This will be a space for weekly blog posts related to learnings from my Entrepreneurial Product Development class at the University of Illinois at Chicago’s School of Design.
In this class, we began to get into the business and financial functions of starting a Quickstarter campaign. Our first exercise was to build a cardboard container in small groups for a duration of 30 minutes. We were required to time and record the duration of each action involved in the creation of the container, from layout to cutting to construction.
This was a way for us to start thinking about all of the steps required for the production of our own campaigns and how we would account for the costs associated with each of these steps. We went over a breakeven spreadsheet and discussed how to account for things like sales tax, minimum order quantities, Kickstarter fees, and fixed vs. variable costs. Then it was time for us to start crunching numbers and doing research on costs for our own Quickstarter campaigns.
Stay tuned for the Quickstarter campaign launch!