There was no better pitch man then Steve Jobs the former CEO of Apple. Back in 2007 he introduced the iPhone at the Macworld Conference & Expo. As one can see from the packed house the air was electric with anticipation. Skip ahead five years. The Pebble smart watch closes a $10 million kickstarter campaign with 68 thousand supporters.
Given crowdfunding’s growing popularity, many if not all product developers must be considering the implications of this strategy. However, in order to use crowfunding as a viable means of raising capital, startups and small business must be great story tellers to take full advantage of this new resource.
What if the master story teller himself had implemented crowdfunding into iPhone’s development? Sure there are a lot of IP issues to consider, but think about the hype it would have produced. Not that it was needed in Apple’s case at this particular moment in time. The company had introduced the iPod a few years prior, effectively re-routing the music industry’s distribution channel through iTunes. In 2007, people were paying attention to any and everything Steve Jobs was saying. But for the rest of us, crowdfunding is a viable means of testing the market’s reaction to our idea before fully manufacturing the product.
It’s worth taking a look at how Steve Jobs introduces this product. For those product developers considering crowdfunding as part of their product development strategy, study this video. Learn.
For the rest of us, whether we are pitching our business idea to investors, customers, or fellow founders, a lot can be learned by how Steve Jobs commands the audience’s attention and only diverts them to the screen when absoulty nesseary.