Is Kickstarter a Good Way to Validate a Business Idea?

AskPat 2.0: A Weekly Coaching Call on Online Business, Blogging, Marketing, and Lifestyle Design

Pat Flynn

Business Advice, Marketing, Podcasting, Getting Started, Business Strategy, Business, Small Business, Passive Income, Online Entrepreneurship

4.9 • 638 Ratings

🗓️ 18 December 2015

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today's question comes from David, who asks about starting a business with funding through Kickstarter. Is this a good way to validate a business idea or will it give me a skewed sense of the market for my product? Check out my new book on validating your idea for a business, Will It Fly?, at http://willitflybook.com. Do you have a question about validation? Record it at http://www.askpat.com/.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

Click on a timestamp to play from that location

0:00.0	What up? AskPath.com.
0:10.7	What up, everybody, Pafflin here, and welcome to episode 499.
0:15.0	One more episode till 500. I can't believe we are halfway through a thousand episodes.
0:21.3	This is crazy.
0:22.8	And I want to thank you, again, so much for all your support.
0:25.5	All right.
0:26.0	Here's today's question from David.
0:29.1	Hi, Pat.
0:30.1	I have a question for you today about Kickstarter.
0:32.5	My name's David, and I'm a surgeon house officer living in Philadelphia.
0:36.1	And I'm in the process of trying to raise some funding slash validate slash pre-sell a product that I'm starting to launch.
0:45.8	I've been thinking about a couple different ways to do this.
0:48.6	And then it occurred to me that I have enough friends and family and supporters that a Kickstarter campaign might be a great way to raise
0:55.4	the initial funds. My question for you is this. Do you feel that using something like Kickstarter
1:00.8	is a bad idea because it could potentially skew the data that I get back? In other words,
1:06.6	would it be a concern that I could get funded from Kickstarter, go ahead and move forward
1:11.4	and then find that there's not enough interest in the market?
1:15.5	Really curious to see what your thoughts are about this.
1:18.0	And thank you so much for everything that you do.
1:20.5	You are a true inspiration to all of us.
1:23.2	Thanks again.
1:23.9	Bye.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Pat Flynn, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Pat Flynn and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.