Monsoon – Sandeep Sood
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About the Episode
Are you trying to juggle multiple projects or even companies? Well today’s guests talks about how he’s able to run a mobile app development firm, a crowd funding marketing group and build success apps. Also listen to the part of the show where he talks about three critical mistakes that most crowd funding campaigns make and how to avoid them.
Sandeep Sood is the Founder and CEO of Monsoon Company.
Show Notes
Committing to Your Role to Manage Multiple Businesses
Sandeep had also struggled in the past in how to make multiple businesses work and in fact, Monsoon did not grow as fast as he wanted it to be in the earlier years as his focus had been divided. It wasn’t until he fully committed himself as the CEO of the agency that things started growing quickly. So now, whether it is a crowd funding campaign or building an app, he just focuses on his role, which is to strategize, sell, and whatever his team needs from him as a leader but no longer extends himself outside of that. He now realizes that as long as he is consistent to his role, he can manage multiple businesses but once he gets out, he gets in trouble.
Three Critical Mistakes in Crowd Funding
There are tons of mistakes that the industry is making right now in terms of crowd funding and the three core items they make are:
- Thinking about the launch of the campaign at the actual beginning and thinking about the end of the crowd funding campaign at the end. Neither should be the case. From the earliest stages, you should already be building your email list and social media following and getting commitments to get you where you want to be. Once the campaign ends, you also need to have a path towards continuing pre-orders or doing traditional ecommerce so you don’t waste the momentum you have built during the crowd funding campaign. Advertise before and after the campaign to get some buzz before the launch of the campaign.
- Do not send all your traffic to Kick Starter or Indiegogo as you will end up spending all your resources sending people to someone else’s website. Set up a separate webpage for your company and direct traffic there. Don’t look at crowd funding as a one -time thing, don’t view it simply as one component as your strategy.
- Do a lot of advertising, work really hard on internet advertising to get traffic to the crowd funding site. It will have two effects: it will make your crowd funding campaign more successful and it will force you to test your messaging. It will drive you to really understand what your customers are resonating with and what really will make your customers buy your product.
What advice would you give to anyone looking to build a mobile app?
Begin sketching as soon as possible then show these to as many people as you can to check if the idea is going to work. The moment you feel that an idea has crystalized, draw a rectangle and begin thinking of how it will flow.
Show Mentions
– RainFactory – crowd funding marketing group
– Fav app: Slack: (iTunes | Google Play)