B2B Breakthrough Podcast: "Kickstarter Confidential: Insider Tips from the CEO - Live at CoCreate"

Release Date: September 12, 2024
Host: Sharon Guy
Guest: Everett Taylor, CEO of Kickstarter

Introduction

In the September 12, 2024 episode of the B2B Breakthrough Podcast, hosted by Sharon Guy, Alibaba.com brings an exclusive live session featuring Everett Taylor, the CEO of Kickstarter. This engaging episode, recorded live at CoCreate, delves deep into the intricacies of crowdfunding, the evolving landscape of entrepreneurship, and invaluable insights for inventors and creators aiming to elevate their ventures.

Guest Background: Everett Taylor

Everett Taylor introduces himself with a blend of humor and humility. Although he mentions not being a traditional developer and dropping out of Virginia Tech, his entrepreneurial spirit shines through. He recounts founding his first company, Easy Events, at a young age, which pioneered online ticket sales long before platforms like Eventbrite gained prominence. Everett's journey includes leading roles such as the CMO of Artsy and founding multiple ventures, including Pop Social and Millicent Artx. Beyond his entrepreneurial endeavors, Everett is also a digital influencer and brand ambassador, underscoring his multifaceted role in the e-commerce and creative industries.

Defining an Inventor Today

At [02:00], Everett elaborates on his perspective of what it means to be an inventor in the modern era:

"Inventors, to me, are the very, very small percentage of people out there that are willing to take that idea, believe in that idea, invest in that idea, sacrifice for that idea to make it a reality."

He emphasizes the courage and dedication required to transform ideas into tangible products or services, distinguishing true inventors from the vast pool of individuals with mere concepts.

The Role of Kickstarter in Modern Entrepreneurship

Everett provides an in-depth look at Kickstarter's role as a pivotal platform for innovators:

"Kickstarter gives you a platform to centralize your audience, to bring your audience to one place where they can transact and support you."
— Everett Taylor [05:23]

He counters the misconception that Kickstarter is merely a space for seeking funds, clarifying that it's a hub for creative projects backed by an audience eager to support innovative ideas. With over 30-40 million monthly active users, Kickstarter serves as a vast marketplace where entrepreneurs can showcase their products to a receptive and diverse audience.

Common Challenges for Founders

During the discussion at [14:03], Everett highlights prevalent challenges faced by entrepreneurs, particularly in fulfillment and logistics:

"Shipping became so much more expensive, cost of goods and materials became so much more expensive. And so you have to really have the foresight to make sure that you're leaving some gaps there for some expenses that you may not be expecting."

He underscores the importance of meticulous planning, especially in unpredictable times like the COVID-19 pandemic, which strained supply chains and escalated costs. Ensuring timely fulfillment is crucial to maintaining customer trust and achieving long-term success.

Successful Campaign Strategies

Everett shares strategic advice on setting realistic fundraising goals:

"If you think you can push a hundred people, cut that in half. Factor in organically how many people you think you can get on Kickstarter and that should be your minimum viable goal." — Everett Taylor [11:19]

He advises creators to base their goals on a deep understanding of their audience size and product pricing, ensuring that the financial objectives are achievable and sustainable. Additionally, he introduces Kickstarter Performance, a new business line offering digital marketing support to amplify campaign reach and effectiveness.

Popular Categories on Kickstarter

Exploring the platform's trends, Everett identifies design and technology as the top-performing categories on Kickstarter, encompassing a wide array of physical products from hardware to fashion. He also highlights the burgeoning success in games, including both video and board games, as well as comics and publishing as rapidly growing sectors.

"Comics might be the fastest growing category. The number one way that indie comic makers publish comics is through Kickstarter now."
— Everett Taylor [18:19]

Personal Insights on Crowdfunding and Supporting Creators

Everett shares his personal enthusiasm for supporting diverse projects on Kickstarter:

"I have more comics than I ever thought I would own. I'm an avid Kickstarter backer. Like, I back hundreds of projects a year. It's like addictive to me." — Everett Taylor [18:50]

He encourages listeners to engage with the platform, emphasizing Kickstarter's role in fostering new creativity and innovation across various niches, from music and film to technology.

Maintaining Momentum Post-Campaign

Addressing the often-overlooked phase post-funding, Everett offers critical advice for founders:

"How do you attract your next thousand, ten thousand, fifty thousand customers? ... Make sure that you have a customer acquisition strategy and plan in place." — Everett Taylor [21:54]

He stresses the importance of leveraging Kickstarter funds wisely to scale operations, enhance marketing efforts, and ensure sustained growth beyond the initial campaign.

Future of Crowdfunding and Entrepreneurship Platforms

When discussing the relationship between Kickstarter and platforms like Shark Tank, Everett underscores the organic synergy between the two:

"Kickstarter is a great launch pad. And then, you know, a place like Shark Tank can pour the gasoline onto the fire to continue to scale that product." — Everett Taylor [23:04]

He also cautions entrepreneurs about the pitfalls of certain accelerators that may demand excessive equity, advocating instead for building a supportive community or tribe to aid in successful product launches.

Closing Thoughts: Dreaming Big

In a lighthearted conclusion, Everett shares a whimsical yet meaningful aspiration:

"I would love to do a Kickstarter to send Nikki Giovanni to space and to have the first poet describe the experience of what it's like to be in space." — Everett Taylor [25:26]

This sentiment encapsulates his passion for empowering creators to realize their dreams, no matter how unconventional.

Conclusion

The episode offers a treasure trove of insights for entrepreneurs, inventors, and creators navigating the complexities of bringing a product to market. Everett Taylor's candid discussions provide practical strategies, highlight common challenges, and inspire listeners to leverage platforms like Kickstarter to achieve their business breakthroughs. Whether you're launching a startup or seeking to innovate within your industry, this episode serves as a comprehensive guide to harnessing the power of crowdfunding and community support.

For more episodes and insights, visit Alibaba.com and search for the B2B Breakthrough Podcast on Spotify, Apple Podcasts, or your preferred podcast platform.