085: Scaling Your Product Up After Crowdfunding

Published: July 21, 2021, 8 a.m.

b'Ben Drury is the Founder of Yoto Play, a connected hardware toy product for kids.\\xa0 Yoto just recently raised $17 million in Series A financing.\\xa0 Before that, Yoto launched their physical product via a successful crowdfunding campaign.\\xa0 Today Ben is going to share some valuable knowledge on how inventors, startups, and small manufacturers grow and scale their products after they finish their crowdfunding campaign in order to get to big time worldwide sales.\\nToday you will hear us talk about:\\n\\nGoing from 750 units to 50,000 units.\\n\\nLaunching via crowdfunding.\\n\\nStart with a starter product as a stepping stone scaling.\\n\\nUsing crowdfunding success to scale after a campaign.\\n\\nUse crowdfunding to learn, it\\u2019s far better than traditional test marketing.\\n\\nThink about leveraging your hardware to sell secondary add-ons.\\n\\nBe connected with your first customers, get a few units out there, then use this traction\\xa0to raise funding.\\n\\nUsing the crowdfunding success and feedback to create a better product for your next version, and figure out how to make it cheaper now that you can produce at scale.\\n\\nGive a big discount to your Version 1 customers to get them to Version 2.\\n\\n\\nEPISODE LINKS\\nBen Drury / Yoto Play Links:\\n\\n\\nWebsite: www.yotoplay.com\\n\\n\\n\\nLinkedIn: https://www.linkedin.com/in/bedrury/\\n\\n\\n\\nInstagram: https://www.instagram.com/yotoplay_us/\\n\\n\\n\\nTwitter: https://twitter.com/yotoplay\\n\\n\\n\\nFacebook: https://www.facebook.com/yotoplayUS\\n\\n\\n\\nThe Product Startup Podcast Links:\\n\\n\\nWebsite: https://www.ProductStartup.com/\\n\\n\\n\\nInstagram: https://www.instagram.com/ProductStartup/\\n\\n\\n\\nLinkedIn: https://www.linkedin.com/company/ProductStartup/\\n\\n\\n\\nFacebook Page: https://www.facebook.com/ProductStartup/\\n\\n\\n\\nFacebook Group: https://www.facebook.com/groups/ProductStartup/\\n\\n\\n\\nPinterest: https://www.pinterest.com/ProductStartup/\\n\\n\\n\\nTwitter: https://twitter.com/ProductStartup\\n\\n\\n\\nYouTube: https://www.youtube.com/MakoInvent\\n\\n\\n\\xa0\\nMako Design Links:\\n\\n\\nWebsite: https://www.makodesign.com/\\n\\n\\n\\nYouTube: https://www.youtube.com/MakoInvent\\n\\n\\n\\nInstagram: https://www.instagram.com/MakoInvent/\\n\\n\\n\\nLinkedIn: https://www.linkedin.com/company/MakoDesign/\\n\\n\\n\\nFacebook: https://www.facebook.com/MakoInvent/\\n\\n\\n\\nPinterest: https://www.pinterest.com/MakoInvent/\\n\\n\\n\\nTwitter: https://twitter.com/MakoInvent/\\n\\n\\n\\xa0\\nKevin Mako Links:\\n\\n\\nInstagram: https://www.instagram.com/Entrepreneurs/\\n\\n\\n\\nLinkedIn: https://www.linkedin.com/in/KevMako/\\n\\n\\n\\nQuora: https://www.quora.com/profile/Kevin-Mako\\n\\n\\n\\nFacebook: https://www.facebook.com/KevMakoPage/\\n\\n\\n\\nTwitter: https://twitter.com/KevMako/\\n\\n\\n\\xa0\\nThanks for tuning in! See you next time.\\n\\nAbout: MAKO Design + Invent is the original firm providing world-class consumer product development services tailored to startups, small manufacturers, and inventors. Simply put, we are the leading one-stop-shop for developing your physical product from idea to store shelves, all in a high-quality, cost-effective, and timely manner. We operate as one powerhouse 30-person product design team spread across 4 offices to serve you (Austin, Miami, San Francisco, & Toronto). We have full-stack in-house industrial design, mechanical engineering, electrical engineering, patent referral, prototyping, and manufacturing services. To assist our startup and inventor clients, in addition to above, we help with business strategy, product strategy, marketing, and sales/distribution for all consumer product categories. Also, our founder Kevin Mako hosts The Product Startup Podcast, the industry\\u2019s leading hardware podcast. Check it out for tips, interviews, and best practices for hardware startups, inventors, and product developers. Click HERE to learn more about Mako Design + Invent!'