What will you learn in this episode?
  • The correct way to build an Instagram following through hashtags.
  • 3 Steps to growing that following on Instagram
  • How long will it take to build a following over 10-20K
  • First step Jake took to jumping into the crowdfunding community
  • What is an “Askhole”
  • Overfunding! There’s that word again
  • Why your video should be under two minutes
  • How to find an overseas manufacturer for your products
Snapchat:
@FutbolHub
@luxuryHouses
@Jake.Schmidt
Instagram:
  • Jake was 5 days away from launching on Kickstarter when he reached out to other crowdfunding alumni and was pretty much told to redo everything on his campaign page.
  • When Jake is not outdoors he’s busy working on his social media accounts! Jake had the advantage of building a large following on Snapchat and Instagram long before his thoughts about Kickstarter. His following is in the hundred thousand and took over a year in a half to build.
  • “Once you get to 10,000 or 20,000 followers, it really begins to take off.”
  • 3 Main things you need to grow a following.
    • Quality Content
    • Unique
    • Consistent
  • A lot of people post hashtags of 15 or more and continue to use the same hashtags every single time. But each post needs to have unique hashtags to be effective.
  • Jake begin reaching out to the Crowdfunding community to network and ask questions and learn more. This is step 1 for any newbie to Kickstarter or crowdfunding.
  • Jake literally reached out to over 100 crowdfunding creators on Kickstarter to learn more.
  • Jake coined the term “AskHole” if you ask a creator for advice and don’t take it, this is you!
  • Jake began his entrepreneurial journey flipping candy bars at school from COSTCO.
  • Jakes long-term goal is to build a community of paracord lovers to show off their different weaves, tutorials, monthly giveaways, etc…
  • Jake is launching with a $6,000 dollar goal, and the reason is because he wants to fund the campaign on the first day.
  • Overfunding – Asking for a lower goal amount with the purpose of hitting it within the first 24 hours.
    • The belief is that if you hit your goal, you’re more likely to have more media/blogger coverage on a funded campaign.
    • Also, Kickstarter’s algorithm is more likely to promote your campaign… in theory.
  • The Apple Watch Paracord band is over 50% off any other prices out there on Etsy
  • The crowdfunding video is under 2 minutes because people’s attention spans now days are very short. 15-second videos on Instagram, 30-second videos on Twitter, and 6-second videos on Vine.
  • Originally Jake planned to make all the paracord weaved bands himself. Quickly he realized this wouldn’t be possible.
  • Jake started by going to Alibaba and going through the different watch manufacturers.
  • After convincing a manufacturer that he could bring value to them, Jake overpaid for a prototype.
  • Don’t believe the time frame given to you by overseas manufacturers. There is always something that will pop up or delay the delivery of your prototypes.
    • The manufacturer said it would take two weeks to deliver. Actually took six weeks.
  • Jake also had to go through the trouble of finding two different manufacturers. 1 for the band and 1 for the watch face.
  • Jake also had to order 50 prototypes in the beginning, to convince his overseas manufacturer to make the product.
  • If you really want to impress a Chinese manufacturer, use “WeChat.” WeChat is one of the top communication apps in China.
  • Also, be consistent with your manufacturers and convince them that you’re doing this long term. Give examples of other projects, highly successful projects so they can see how many orders you expect.