My Kickstarter went live this past Tuesday, and wow, it has been some crazy week! First off, I’d like to thank all of you for your support. You have really come through and made a huge difference! If you’ve been reading along on my blog, you’ll know that I have been working on this Kickstarter for a year now.
After launching my campaign, I have put to test the theories expressed in the books, Lean Startup and Nail It and Scale It. These books are on-trend right now with the current advice for startup companies. These books essentially tell you to take an idea for a startup, throw it out on the market, and test it out. Once you have some real-time feedback, you make changes to your idea. As you evolve with your consumers, you will be successful as a startup company.
So let’s apply this theory to my Kickstarter. I put my product out on the market. There’s been a lot of traffic to the site, and people are excited about the product. But, for most consumers, the feedback I’ve been receiving is that the price point is too high. I started the price at what I considered the price of comparable bags made of out of waxed cotton and leather on the market. While their backpacks don’t offer the organization and quality of materials of the bag I’ve created, I figured it made sense to start at this price. However, from the surveys and feedback I have been collecting, the price point had to come down. In order to do this, I need to change my manufacturing to overseas. I’ve taken the advice from Lean Startup and Nail It and Scale It, and I’ve decided to change the price of the Modern Day Briefcase from $250 to $149 in order reflect the consumer’s demands.
I’ve also decided to redo my video. There are some necessary details that I left out of my last video, and I need online buyers to have a better understanding of the quality and function that this bag has to offer. Since online buyers can’t touch and feel the quality of the bag, I need to help them experience this bag through more detail and better visuals in the video.
There’s also been some confusion on how this bag fulfills the idea of The Modern Day Briefcase. Some people are telling me, “It’s just a backpack.” I realized this week after launching, that I haven’t visually convinced the online consumer that they need this bag, and that it truly does reflect the concept of the Modern Day Briefcase. So, I’m working on making this concept come to life on my Kickstarter campaign by including more graphics and movable .gifs to enhance the experience of this bag.
I truly believe that this bag opens up a new market for young professionals. There are enough ugly, vinyl backpacks and useless, pretty satchels out on the market. It’s time to find a marriage of the two, and offer consumers comfort, function, quality, and design all in one bag!
All of these changes will go into effect Tuesday morning! We will see if the success of my Kickstarter improves after I implement all of these changes I have made, based on consumer feedback. I hope to prove the theories expressed in the Lean Startup and Nail It and Scale It.
Please continue along with me on this ride by following my Kickstarter campaign progress!