Colin McIntosh is the founder and CEO of Sheets & Giggles, a Denver-based brand that has been growing like crazy in the United States bedding industry. Launched on Indiegogo in 2018 with a $284,000 crowdfunding campaign, Sheets & Giggles went on to become the most popular Indiegogo campaign ever for bedding and shipped 10,000 units in under a year.
Listen in as we dive deep into entrepreneurship, venture capital, and crowdfunding, as well as why you should focus on making money instead of raising money. You’ll learn how Colin created a painless fundraising process from his crowdfunding success and why he turned down a $400,000 investment the day before his crowdfund launched. If you’re looking to raise money for a business or an idea, this is an episode you can’t afford to miss.
In this episode, we cover topics such as:
- Why you should always sell something before you produce it.
- The best stage of the product lifecycle for crowdfunding.
- How much time you should have to prepare and what you should have in place before a crowdfunding campaign.
- The crucial first mistake that many make when turning to crowdfunding.
- How to hack the crowdfunding algorithm.
Please enjoy today’s episode — and visit the resources below to find everything mentioned in the show!
What you will hear:
[4:40] What Sheets & Giggles is, how Colin got it started through crowdfunding, and why he started the business.
[11:40] At what point in the journey Colin decided to turn to crowdfunding for capital.
[15:20] How long it took to prepare the crowdfunding campaign before launch.
[17:00] How the crowdfunding math works to be successful.
[23:45] Colin’s approach to funding from venture capitalists.
[32:30] What he learned along his crowdfunding journey.
[33:40] What S&G’s ongoing marketing strategy looks like.
[38:20] The most important lesson Colin learned through his crowdfunding journey.
Ideas Worth Sharing:I don’t think you should ever produce anything before you sell it. - @ColinDMcIntosh Click To Tweet I love anybody that enters into this stage with a ton of optimism, but the reality is you have to look at the numbers from a very hard and fast perspective. - @ColinDMcIntosh Click To Tweet I think that crowdfunding is actually a very beautiful thing because it allows people this rare opportunity to read about a company, and a person, and a team, and make a decision that normally only investors or bankers get to… Click To Tweet When people feel empowered, they do better work. - @ColinDMcIntosh Click To Tweet
- Colin McIntosh: Website | LinkedIn | | Twitter
- Sheets & Giggles: Website | Instagram | Facebook | Twitter
Subscribe & Review in iTunes
Are you subscribed to Backstage Business? If not, I strongly suggest you do. This way you won’t miss a thing! Subscribe here: Backstage Business
And here’s what we would be the ultimate supreme: If you left me a review on for Backstage Business as well. This will help other genius business leaders and entrepreneurs like you find the podcast.
Plus, it would be super fun for me to get to enjoy my morning coffee while reading them! Just click here, click open in iTunes, select “Ratings and Reviews”, tell me your favorite moment and best takeaway and I may just send you a really cool token of thanks!