How to Use Crowd Funding to Purchase Inventory with Vance Lee

Does your lack of funds get in the way of launching a successful business? 

In this episode, Vance Lee talks about crowdfunding, its advantages, and disadvantages that could help you assess if this is right for you.

Vance co-founded the Playground Theory that helps eCom entrepreneurs grow and transform their brands. Since starting Amazon FBA in 2015, he’s mastered crowdfunding and the pre-order launch strategy to launch products and grow brands. He’s raised over $7M in successful launches and broke records with 2 of his launches–both #1 Most Funded in their niches and ranking in the top 1% of crowdfunding projects of all time.

Originally from Canada, now he’s a full-time nomad traveling and living in different countries around the world.

[00:01 - 09:21] Opening Segment

• Vance talks about his e-commerce journey
• The launch of Kickstarter
• Vance shares the story of his failed product launches 

[09:22 - 17:39] Guide to Successful Crowdfunding

• What is Crowdfunding
• How can Kickstarters help with your funding
• Want some Amazon refunds? Check out GETIDA
  • Promo code: FTM400
• What happens when your Amazon Ad Campaign goals are not met?

[17:40 - 27:00] Grow and Scale with Ease

• How to determine a market fit for a product
• Reasons to use crowdfunding
• Want to try Kickstarter? Here are the things you need to prepare to get funded

[27:01 - 35:34] Closing Segment

• Vance talks about Playground Theory
• What crowdfunding is not
• The Fire Round

Quotes

“If I were to be super stubborn about my ideas of how I thought this is going to work, to be able to screen and scale this brand, I probably wouldn't be able to have all these interesting ways to explore if it's going to be more effective, or maybe equally effective, whatever it might be. Just being open-minded to challenging what you know, is going to be super important.” - Vance Lee

Connect with Vance Lee on LinkedIn and check out the Playground Theory if you’d like to learn how to launch and scale your brand.

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Resources Mentioned

GETIDA

Book
The Way of the Superior Man

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