116: How Eskil Nordhaug Crowdfunded $123,000 to Make Mobile Video Look Amazing

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The problem Eskil Nordhaug wanted to solve for people was simple. Videos taken with smartphones or small cameras are notoriously shaky.

So he simply looked at the needs. He asked himself what it would take to build a company selling a mechanical video stabilizer that exceeded expectations—the kind of product consumers needed, the amount of money he would need, the coverage help press outlets needed, the info his project page would need. 

The result was StayblCam, and it was precisely this needs-focused approach that led to a smash-hit Kickstarter campaign and the successful company that followed.

Nordhaug says that the same principle can guide the way for any great crowdfunding campaign. “The most successful ones, generally speaking, are the ones that, there’s a need for it,” he says. “It solves a problem. It’s not just some fancy, weird thing that’s made for the sake of being made.”

Crowdfunding appeals to ordinary people with limited funds, so they can’t back every project that breezes by. When people see your product, you don’t want them to shrug and think it’s neat. You want them to whip out their credit card and ask, “When can I get one?” If your product solves a problem that’s long-pestered people, they’re likely to do that.

Don’t make something that people will want in on—make something that people need in on. Nordhaug shared with Foundr this golden piece of advice, and so many more related to running a successful fundraising campaign.

“It’s about creating value for users,” Nordhaug says.

In this episode you will learn:

  • Why you need to start working on your campaign months before you even launch
  • The correct way to figure out what funding goal you should aim for
  • The best way to contact press outlets and start getting media mentions
  • Paids ads. How and why you should use them
  • What a great Kickstarter landing page looks like
  • & much more!
  • https://www.bloggingfromparadise.com/11-fundamentals-blogging-course/ Ryan Biddulph

    Hi Nathan,

    Good stuff! Eskil’s heavy emphasis on creating value strikes a chord with me. If you want to raise funds, stress to investors the immense value of the offering to get that sweet, sweet seed money 😉 And, be bold as hell. Be polite, be nice, be pleasant, detach from outcomes some but ABA: Always Be Asking. No matter your niche or pitch, be pleasant and persistent, attaching less to 1 person or group and focusing more on connecting with new investors who’d benefit from your product. Thanks for sharing!

    Ryan

  • http://petelf.com/ The Pet Elf

    Eskil Nordhaug raised $123,000 due to people like me. I’m a small business owner and every dollar counts. Paid $81.95 in Dec. 2016, never received the StayblCam, emails are unanswered, phone is disconnected. You are a scam artist and your company is a front.

    • http://www.stayblcam.com Eskil Nordhaug

      No. Not true at all. We have been very open about the financial hardships we have faced since our parts suppliers and manufacturer let us down and could not keep up with high sales. This forced us to cut back on almost everything – because we put customer refunds FIRST (not ourselves) – leading to things like phone service, live chat services, etc. suffering and being cut. I have said it before and will say it again – EVERY customer WILL receive their product or receive a refund if they are waiting for it. We are working day and night to get back on our feet and take care of everybody.

      • http://petelf.com/ The Pet Elf

        I have exchanged 28 emails with your team trying to get a satisfactory response, and the last communication was in May 2017. I have been trying to get a product or later a refund since December 2016. That’s 8 months with no resolution! How can you say I come first? Do me a solid, and refund my $81.95. My order # is 11687.

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