Ask HN: Right Time for Crowdfunding

1 points by zach417 9 years ago | 1 comment

I've started a company to build a mobile, consumer robot to do your laundry. The vision is that you'll be able to put your dirty clothes in a hamper, and when you get back from work, the robot will have washed, folded, and put your clothes away.

My parents have provided seed funding. At my current burn rate, I should have an additional 12 months to build out the prototype. I'll obviously need more cash at that point to either (1) continue prototype development or (2) start manufacturing.

Is there an ideal time for crowdfunding a product like this? I'd hate to waste time on a crowdfunding campaign if my chances of funding an unfinished prototype are slim, but even just a handful of preorders would add months of runway. Or should I wait until the prototype is complete?

nzjrs 9 years ago |

If crowdfunding has taught me anything it is that the existence or state of the prototype is not predictive of the success of your campaign. I suggest you take 70% of your remaining cash and pay one of these crowd funding marketing companies to make you a nice video, and put the prototype to the side for now.