The MagMod Story
When it comes to building successful business or projects, Spencer Boerup, the founder of MagMod knows a thing or two about making it happen. He was one of my favorite photographers when I first started and in the past 10 years has created projects such as Presetopia, Workflow, Salesographer and finally MagMod! A creative and efficient speedlite or flash modifier system for photographers. Join Spencer as he shares the MagMod story.
In this episode, Spencer shares the triumphs and struggles of starting a product business, how to succeed with a crowdsourcing campaign, and why he went all in on his MagMod idea.
How Crowdfunding Magmod was a Success
- When creating a product, it may be tempting to run a crowdfunding campaign to get the money upfront, but Spencer encourages people to get a proof of concept, and have it tested and have the product at the 85% or more completion rate before asking for money. If you are close to being able to deliver on the promise, you are more likely to get backers.
- A crowdfunding campaign is a great way to find out if the market wants to buy your product.
- Have your packaging and delivery and fulfilment process setup and figured out before you start your campaign, because that’s the step that most people get stuck on and prevents them from completing the product.
Spencer’s Favorite Business Books
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