I’ve owned two Pebbles over the past three years and had planned to purchase a third. Their product, in my opinion, does exactly what a smartwatch should do – link the edge of our mind to your phone with just a glance. However, while Pebble was brilliant in marketing, product design and development, they fell painfully short when it came to the ENTIRE other aspect of business. And while some may argue that their marketing was lacking, 2 million units in three years from a previously non-existent company is quite a fantastic feat.
The current crowdfunding mechanism is a boon to the great but unproven ideas that abound. What results are some brilliant product and marketing minds celebrating over a serendipitous treasure cache and no a clue on how to build a business. To the majority of the crowd, the business’ future prospects are of no concern since they will receive the product they paid for (or their money back). But in the spirit of growth and for all of the businesses that do fail, it may be time for incubators and crowdfunding platforms to get married. Save the date.