Raising funds via video

In a new business, there are lots of little things to prepare for big milestones. Fundraising is usually one of the more dreaded tasks for a start-up. However, it can also be one of the most creative if you’re raising funds via video.

I have two funding opportunities due in the next month. One is a grant that requires a 60 second video pitch to get past the first round. The other one is for a crowdfunding opportunity.

For the 60 second video, I’ve really struggled to write a script that covers the most important points in that short time period. That’s basically about 175 words with my speaking pace – hardly 2-3 short paragraphs.

However, when I started to storyboard the scenes, I realised that I could actually reduce my script by adding subtitles to the video with that info. What can I say in pictures so that words are unnecessary? By writing it this way, I managed to get the spoken narrative down to just 120 words which allows more time for cut-away scenes.

I just have to make sure I capture compelling video. This is not an easy task unless you know what you’re doing. And I don’t – at least not from a technical point of view. I reckon that I could easily spend 2 days or more on capturing the video and editing alone for the 60 seconds of content.

This is going to be even more critical to do well with the crowdfunding campaign. There, I have to make an entertaining movie to capture my audience’s attention and dollars. To do the video professionally might require it’s own fundraising effort! Luckily, I think I’ll have some sponsors to help with that one.

It’s the 60 second video that will have to be done completely on my own due to budget. I’ve never made a real movie before, but I have written short scripts for a cartoon series. The cinematography is going to have to be amazing to tell the story well which makes this a bigger challenge for me since I have very little experience here.

Still, it actually sounds like fun. I’ve been playing with the two storyboards in my head. I don’t have a lot of time left to get this sorted, but if I have to do fundraising, I might as well make it as fun and creative as possible.

After all, I can’t control whether or not the funding is successful. However, I can give the audience the best show possible within my abilities and budget.

How I chose a manufacturer

I flew to Brisbane today to meet with a manufacturer (amongst another meetings). It’s been a long process, but I finally did chose a manufacturer for two of my products. Yay!!!

Here’s my weekly video update that explains my decision:

This manufacturer is smaller than the other ones, but it seems to be making them much more flexible with lower overheads. This is obviously really important for start-ups like mine with a smaller budget.

For next steps, they will review the brief and designs I sent before and then get started on the “Manufacturing for Design” phase. From that, I should be able to get firm prices for moulds and units. That’s what I need for the business case to investors.

While I’m waiting, I need to chase some leads for intrusion manufacturers for Product #1. I’ve also been given a lead for someone who appears to be a world-class product designer to see if he might be able to give me some advice for the same product.

Overall, it’s been a very productive week at The Refoundry!