Crowdfunding – the practice of funding a project by raising many small amounts of money from a large number of people, typically via the internet – has become very popular over the last few years. Today, most of us have heard about Kickstarter, Indigogo and GoFundMe to name a few, and Ulule a well-know European crowdfunding platform
The concept of raising money in forms of multiple small amounts from a large number of people is not new. What is new is that digital technology makes it easier and faster to implement. Basically, anyone with access to internet can create a project and ask for support.
When coupled with social media, the whole crowdfunding process may turn to be a fun and exciting experience for both the supporters and the project leader. Our world is changing, isn’t it?
Better resources management means less waste
In a context of eco sustainability, what crowdfunding is allowing is to generate pre-orders for a product before production starts. If well handled, this means a better management of the resources and ultimately less or even no production waste. By tailoring the production capacity to the demand (pre-orders), just the right quantity of resources can be allocated to the project. No surplus or no shortage of raw material and no waste of energy consumed.
Bring the consumers in the creative loop
Crowdfunding also allows the makers/designers to engage directly with the consumers/supporters and get their feedback right from the beginning of the project.
When relevant, adjustments to the product design can be made based on the consumers feedback before the production starts; thus improving the quality and avoiding waste.
Shoo-Foo and crowdfunding
In the past year, we have been asked by many of our followers to create a line of loungewear in bamboo. Bamboo clothing was not in our plan, but loungewear sounded as a good idea to us. After all, the softness and coziness of bamboo fabric make it a very good fit for lounging clothing.
The creative process was very collaborative. We have consulted many people from various trades including our most loyal followers. To be consistent with our collaborative approach, we decided to launch the product as a crowdfunding event. We chose to work with Ulule for several reasons including the fact that they are a certified B Corp company (B Corp is to business what Fair Trade certification is to coffee or USDA Organic certification is to milk).
This is our first crowdfunding experience. We invite you to view our project here and become part of it in your turn. If you like what you see, please consider sharing it with your friends and supporting us by pre-ordering your own Be Chic in Soft Bamboo Loungewear.