When Will the XOOT System Be Ready?
I’ve been putting off answering “When” because no one likes the answer….(especially me)
Timing brakes down into chains of events:
1. Mechanical Design and Pricing
Design->Engineering->Manufacturing Estimate->Build Prototype->Test. There’s some back and forth between steps but we’ve got a pretty good handle on this process.
(2-3 months)
2. Pre-Crowdfunding Marketing
Generate interest in the XOOT system. Get people to signup for notification when crowdfunding starts.
(? Unknown)
3. Crowdfunding
Run a crowdfunding campaign on Kickstarter.
(1 month)
4. Manufacturing and Shipping
Build the tools for manufacturing, build the XOOT systems, ship the XOOT systems, get your XOOT system.
(4-6 months)
Steps 1 and 2 happen simultaneously.
Pre-Crowdfunding Marketing
The best predictor for crowdfunding success is having a large email list. Typically only 5% of a list buys into crowdfunding. Our current email list needs to grow 10 times larger.
History:
In the last crowdfunding attempt, we threw cation to the wind and just went for it, (with a small email list but lots of good will). Only 3% of our mailing list put money into crowdfunding. There were many reasons it went poorly but that 3% number burns in my brain…
Why Crowdfunding?
– It validates market demand. If someone likes a XOOT system, that’s one thing one thing. If they put money down to get a XOOT system, that’s an entirely different thing.
– It a nice boost of capital that makes it easier to go into manufacturing.
Risk:
I’ve been bankrolling the development of XOOT with my own savings. Going into manufacturing requires I risk EVERTHING! I’m a father of two kids and I’m within eyesight of retirement age. This requires extreme caution. Successful crowdfunding gives me confidence to tolerate the risk.
Don’t get me wrong. I BELIEVE IN XOOT! For years it’s been my total focus. I invented the XOOT system as better way for people to interact with computers. I’m very literally a hands on guy. I like to feel my work, push, pull, drag and build. Bringing the screen closer to you it allows for a more kinetic experience. That is why XOOT exists. It just so happens that most artists feel the same way.
Sorry… went off on a tangent there…
The short story is:
We need to solve the signup problem before setting a date.
Is There A Way To Speed Things Up?
Yes.
Get people to visit the XOOT site and signup for crowdfunding notifications.
You can:
- Sign Up,
Only about 5% if the people visiting the XOOT site signup.
- Tell Others,
Word of mouth is always the best way to spread interest.
- Back-links,
Most people find XOOT by doing a google search. Google ranks the XOOT site higher if it finds links that point to us or finds text that mention the “XOOT” system. Thus, a write about us on form, blog, or post. It’s a BIG help with our marketing effort.
– Chirs Myerchin
XOOT Founder
