Denying Crowdfunding Reality
Denying Crowdfunding Reality is perfectly illustrated in episode 14, season 5 of The ABC hit comedy The Goldbergs entitled Hail Barry. Specifically the sub-plot involving Beverly Goldberg who is in absolute denial about her new line of jackets. She thinks they’re the most epic jackets in the history of clothing. But actually they suck. Everybody knows it. They don’t sell. Heck, Beverly’s husband Murray couldn’t GIVE them away as a free gift with any purchase from his furniture store. The joke hits a high note when Beverly realizes that even homeless people were turning down her jackets as free donations. It was then and only then when she faced reality; her product sucked and nobody wanted it.
— The Goldbergs (@TheGoldbergsABC) March 1, 2018
The parallels of this sitcom echo the real world in terms of denying crowdfunding reality. Crowdfunding is product testing. We’ve written about this before. Let’s quote Tim Ferriss on the core concept of crowdfunding as product testing…
Crowdfunding platforms like Kickstarter and IndieGogo allow you to introduce (test) a new product before you start manufacturing, removing a huge amount of risk. If people like what you’re proposing, you can pull in thousands or even millions of dollars to fund your dream. At the very worst, you were able to test your idea without investing much time or money.
Far too many people who are crowdfunding make the erroneous assumption that any product can sell and make money with enough crowdfunding promotion and that any crowdfunding failure must be a failure of the crowdfunding marketing agency or PR firm. Their reasoning is initially sound; the more people you reach, the more sales you can make. That’s true but… what if no one wants what’s being advertised? The best example of this is the legendary J Peterman Kickstarter project.
Denying crowdfunding reality doesn’t mean we should deny ourselves the chance to try. Nothing ventured, nothing gained as the saying goes. Your idea could make you millions and change the world. Or it could fail miserably. There’s only one way to find out and with our far-reaching crowdfunding public relations we’ll help you achieve the best reality possible.