Dave Lukas Chats with Samit Patel
228: Secrets from the World's #1 Crowdfunding Marketer, Samit Patel
This week’s Misfit Entrepreneur is Samit Patel. Samit is World’s #1 Crowdfunding Marketer. He is the founder of Joopio and several other businesses that help grow, scale, and get companies known. He and his teams create “done for you” campaigns that are unique to each product and service.
Samit has been featured everywhere from Forbes, Fast Company, Alphr, and is tapped by many of the world’s biggest influencers and companies to help them get their products and services off the ground or better known.
Samit has created a process that ensures products and services get the attention needed to be funded and sell into the future. They do everything from making sure pre-launch is right all the way through to E-commerce after launch. And that is what I want to dig into with him in this episode, to have him teach you how he and his teams do it.
Samit got pushed into business when he went to university to help pay the bills. He set up an events company that helping make $1000 or so a week as an 18-year old. He graduated in 2009 into a horrible job market. And after making $1000 a week, was not going to take a job for less, so he started a number of other businesses in sectors like travel, beauty, and he says, “You name it, I tried to do it.” He then got into a partnership for a new business where he worked for over a year to make it come to fruition and just when it was about to launch, got kicked out of the partnership.
He was dejected and lost and hit a bottom. It took a freak accident that happened to his younger brother that led him take a consulting role for a startup and had success. It took him about 10 years and pretty much giving up before things happened for him and he found a big success.
The freak accident that happened was his brother drowning and being brought back to life. It made him realize that he needed to rethink his whole life and really get focused – a wake up call that he was nowhere near where he wanted to be.
It was in this startup that he built a campaign to launch the product it did over $1.3 mil, one of the top crowdfunded products at the time. He then went on to another product in the skiing industry with great success and further honing his skills. And nowadays, he raised over $30 mil launching product across 40 different industries.
Why is Crowdfunding such a good way to launch a product or business?
What are the pitfalls or bad side Crowdfunding? What mistakes do people need to be careful to avoid?
Take us through your process and how you do what you do. (it’s best to listen, but here are some short notes)
What else should we know about how to launch a product right?
At the 30 min mark, Samit and I discuss other nuances of launching.
At the 32:30 mark, Samit explains more about how Crowdfunding platforms work…
What are the lessons you’ve learned being an entrepreneur? What are the principles you use to succeed?
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