Question
I'm in the early stages of Product Development for my idea. I'm starting to create it in Solidworks and I've invested 10 hours thus far.
I'd really like to fund the molds/materials/shipping with Pre-Orders.
Would it be viable to put up a landing page with a video and good copy explaining the product, along with Accepting Pre-orders to fund the project? I know that the best validation is people buying your product. If I receive Pre-Orders and the project goes dead can I just refund the pre-orders? (No harm no foul?)
Anyone with similar experience?
Answer
For any fund-raising process, traction is the key. Since you are validating and cannot really talk about traction (so far), the next important factor is projections.
The way you prepare projections can be critical to raise funds in your case. If you need any any email in your pitch deck, you can setup a call with me! :)
Cheers, and good luck!
