February 16, 2016
Unless a startup has an amazingly unique product from the beginning or the founding team happens to be lucky enough to have a ton of influential supporters, it can be really hard getting to product-market fit. In order to get the right amount of feedback on your product or service, you need to network and cultivate users like crazy. It can be a challenge for even the most determined hustler.
RocketClub.co, a crowd ownership platform that helps early stage companies gain support and feedback, has recently relaunched with version 2.0. RocketClub uses a crowdfunding model, similar to Kickstarter or IndieGoGo, but no money exchanges hands. Instead, members can support companies by completing tasks such as testing out products, sharing on Facebook, or inviting other people to join. By completing these tasks they earn points which can then turn into shares of the company.
The goal is to incentivize and to reward a company’s network for providing feedback. It starts with the people that founders would typically go to for support – family and friends – and expands from there, assuming that supporters are completing tasks and the network grows. Once a supporter has earned enough points, they have a legitimate stake in the company.
One feature of the relaunch is the ability for companies to customize and add tasks that are not their by default. Since companies have different needs when it comes to market research, the ability for founders to create their own unique tasks will help them potentially achieve their goals faster and more successfully.
These incentives also foster a sense of ownership among the members. Co-founder Erik Chan mentioned how they used this feeling of ownership and community when building the platform.
“We’ve looked psychologically about what makes people feel like owners in something. It’s more than just an investment in time. It’s being able to have access to information before anyone else does, and show that they are more invested in a company”
Each company that sets up a campaign with RocketClub gets their own messaging forum where they can communicate with their members. Members can reach out directly to founders to ask questions or offer suggestions for improvements. Founders can also message their members to let them know the latest upgrade before it launches or to solicit feedback. This is where the community lives.
RocketClub also has procedures in place that prevent just anyone from signing up. Each potential member has to fill out an application and the company can vet people before they accept. Members can link to their Facebook, Twitter, or LinkedIn profiles to make their profile more candid.
Who knows, maybe the next startup you support on RocketClub will be the next Uber, and you’ll be part-owner.
Did you like this article?
Get more delivered to your inbox just like it!