John Lee Dumas, military veteran, author and entrepreneur is expediting the transformation of the book publishing & expert industry. With zero training as a book publisher and less than a few years delivering expert advice on his EOFire podcast (www.EOFire.com), Dumas has done the unthinkable. He has leveraged his military training to mobilize a team of illustrators, book marketers and related professionals to design, implement and deploy a Kickstarter crowd funding campaign that raised $453,803 in just 45 days, breaking established self-publishing records.
Dumas has clearly demonstrated his ability to set and meet goals; but, more importantly he has provided the best evidence that crowd funding is disrupting the book publishing and expert industry.
In fact, Tom Morkes, a successful crowd funder in in his own right, who raised $13,163 on publishizer.com[i] argued that crowd funding is an opportunity to get your biggest fans and supporters to rally around a single goal—while presenting authors with a reason to ask for support, contribution and viral sharing of their message.
It validates your book before you write it, creates eager anticipation and legitimizes your self-published book.[ii]
CROWD FUNDING & THE EXPERT INDUSTRY WERE MEANT TO BE TOGETHER
There is a huge list of similarities between the crowd funding industry, book publishing and the expert industry. Therefore, it should come as no surprise that an increasing number of experts including professional speakers, authors, life & business coaches—are now using crowd funding to pre-launch or commercially test the viability of their ideas.
CASE IN POINT, LET’S EVALUATE SOME OF TECHNIQUES USED BY CROWD FUNDERS & EXPERTS TO SUCCEED
This list includes standard industry practices of:
- Pre-orders;
- Multiple global product rollouts;
- Utilization of personal networks to drive awareness and sales;
- Activation of personal appearances including on air interviews;
- Use of video;
- Competitive pricing.
CROWD FUNDING IS NOT A FAD
In fact, it is argued that Crowd Funding will soon replace author advances and further empower readers.[iii]
For example, Matt Gartland, Winningedits.com argues, "Indie authors are flocking to sites that allow them to create fundraising pages for their book projects. It’s a beautiful and simple idea: have your readers fund your next book directly in exchange for intimate access to the process as well as exclusive goodies available at various pledge levels."
Gartland cited several examples to support his arguments including Frank Chimero who raised $112,159 USD from 2,109 backers to fund his "The Shape Of Design"[iv] project and Robin Sloan, who raised $13,942 USD from 570 backers to fund "Robin Writes A Book"[v].
EXPERIENCED AUTHORS ARE EMBRACING CROWD FUNDING
In July 2012, Seth Godin an established author of 18 titles was one of the first authors to embrace crowd funding. At the onset Godin had modest goals of $40,000 and reached out to his loyal fan-base to pledge funds to bring "Icarus Deception" to life before it was finished and ready for distribution. With the support of 4,242 backers, Godin raised $287,342 in 30 days.
SUCCESS STORIES DO NOT END AT ROBIN SLOAN, SETH GOLDIN NOR FRANK CHIMERO
In fact, as indicated earlier, the greatest success story in indie publishing may be credited to a Kickstarter campaign underway—at the writing of this ebook with the launch of John Lee Dumas’ “The Freedom Journal”.
AS OF FEBRUARY 22, 2016, JOHN LEE DUMAS HAS RAISED $453,803 ON KICKSTARTER
For those not familiar with his work, John Lee Dumas is an American entrepreneur, military veteran and podcaster based in San Diego. He is the founder and host of EOFire, a daily podcast that interviews entrepreneurs 7 days a week.
Through EOFire, Dumas has produced over 1,200 episodes and EOFire generates over 1.2 million unique listens each month.
In January 2015, Dumas had an idea to create the Freedom Journal, a faux leather-bound journal to help individuals set and accomplish a goal in 100 days.
He subsequently partnered with Prouduct.com to produce the journal including sourcing the material, hiring a designer, illustrator and editor.
By September 2015 the Freedom Journal team travelled to China to oversee the production and Brandon Adams, a crowd funding expert and Tom Morkes, book launch expert, were hired to prepare for a January 04, 2016 launch of its Kickstarter crowd funding campaign.
On January 4, 2016, Dumas launched The Freedom Journal via a Kickstarter campaign. It quickly became one of the most funded publishing campaigns in the history of Kickstarter, with over $350,000 pledged in 33 days. By February 20, 2016 the Kickstarter Campaign had exceeded $453,803 in pre-orders of the Freedom Journal, obliterating Dumas’ goal of $25,000.
The campaign can be reviewed at https://www.kickstarter.com/projects/eofire/the-freedom-journal-accomplish-your-1-goal-in-100/description
BUT WHY WAS JOHN LEE DUMAS & THE FREEDOM JOURNAL KICKSTARTER CAMPAIGN SUCCESSFUL?
Well, simple. John Lee Dumas understood the fact that executing a successful crowd funding campaign is HARDWORK—that requires a plan and a team to ensure success. He understood the fact that success is predicated on many variables including great design, great idea, amazing rewards, ability to reach donors outside of his own personal network, consistent marketing and a little bit of luck. He implemented a strategy not only to inspire his own Fire Nation listeners to take control of their lives and take their own Entrepreneurial leap, but he also took the following steps:
- Researched, Vetted & Developed A Great Idea
- Created A Winning Social Media Strategy
- Found An Ubiquitous Product/Service With Great Appeal
- Designed A Great Product: Produced A Great Video
- Prepared A Helpful Media Kit
- Created A Tiered Money Request Strategy (that did not request money immediately but gave donors a chance to evaluate)
- Grew Interest Before He Closed
- Communicated Often With Supporters & Kept It Personal
- Appealed To His Existing Network Of Supporters
- Appealed To Everyone Else With Great Rewards
- Offered Complimentary Rewards
- Targeted & Connected With Business Supporters
- Secured Partnerships That Enhanced Value Offered Supporters
IN ACHIEVING KICKSTARTER SUCCESS JOHN LEE DUMAS (THE FREEDOM JOURNAL) HAS DEMONSTRATED THE IMPORTANCE OF NETWORKING
Crowd funding success is driven by ones’ ability to reach into his or her personal network and encourage supporters to share campaign related messages. In fact, the crowd funder that is most successful in convincing internet users, social influencers and media companies to share, will win.
John Lee Dumas and his team have demonstrated an affinity for networking—as well as an embrace of this essential crowd funding skill. The campaign has received tremendous support from the expert and business community. As an example, a short list of entrepreneurs that have supported the Freedom Journal Kickstarter campaign either through donations or social media shares has been listed below.
This list is proof positive that Dumas knows what he is doing and the lessons learned from military service and through the organic growth of EOFire further reinforces his credibility and authencity.
The Freedom Journal has been supported by:
- Adam Franklin, www.bluewiremedia.com.au
- Akshay Nanavati, www.existing2living.com
- Alyson Lex, www.rockyourmarketing.com
- Amber Vilhauer, www.insightfuldevelopment.com
- Amy Porterfield, www.amyporterfield.com
- Ana Hoffman, www.TrafficGenerationCafe.com
- Andrew Warner, www.mixergy.com
- Andrew Lock, www.HelpMyBusiness.com
- Andrew Pickering and Peter Gartland, www.andrewandpete.com
- Andy Drish, www.thefoundation.com
- Antonio Centeno, www.realmenrealstyle.com
- Ash Ambirge, www.themiddlefingerproject.org
- Austin Netzley, www.austinnetzley.com
- Brandon Allen, www.newworkrevolution.com
- Bryan Harris, www.videofruit.com
- Brian Horn, www.authorityalchemy.com
- Chandler Bolt, www.self-publishingschool.com
- Charlie Patel, www.juicetank.com
- Chloë Thomas, www.eCommerceMasterPlan.com
- Chris Ducker, www.chrisducker.com
- Cloris Kylie, www.cloriskylie.com
- Corey Poirier, www.coreypoirier.com
- Dan Norris, www.dannorris.me
- Dan Miller, www.48days.com
- Danny Flood, www.openworldmag.com
- Darryl Lyons, www.paxfinancialgroup.com
- Dave Arnold, www.davearnoldspeaks.com
- David Hancock, www.MorganJamesPublishing.com
- Deri Llewellyn-Davies, www.BGIStrategyonaPage.com
- Dino Watt, www.dinowatt.com
- Dwight Peters, www.BackersHub.com
- Elisa Doucette, www.craftyourcontent.com
- Eric Siu, www.Growtheverywhere.com
- Farnoosh Torabi, www.farnoosh.tv
- Faye Kitariev, www.coachfaye.com
- Gail Tolstoi-Miller, www.networkingkarmabook.com
- George Siosi, www.itwillco.me
- Glen Allsopp, www.viperchill.com
- Glen Stansberry, www.gentlemint.com
- Grant Baldwin, www.grantbaldwin.com
- Grant Weherley, www.grantweherley.com
- Gretchen Rubin, www.gretchenrubin.com
- Gwen Elliott, www.gwenelliot.com
- Hani Mourra, www.simplelivepress.com
- Honoree Corder, www.honoreecorder.com
- Isaac Jones, www.superhumanentreprenuer.com
- Ja-Nae Duane, www.ja-nae.net
- James Dalman, www.happyjoe.org
- James Scarmozzino, www.sunergeticproducts.com
- Jared Kleinert, www.jaredkleinert.com
- Jason Gracia, www.theexpertagency.com
- Jeff Korhan, www.jeffkorhan.com
- Jesse Tevelow, www.jtev.me
- Jill Stanton, www.screwtheninetofive.com
- Jo-Ná Williams, www.jawilliamslaw.com
- Joel Boggess, www.relaunchshow.com
- Joel Comm, www.joelcomm.com
- John Spence, www.johnspence.com
- Justin Glover, www.results513.com
- Justin Williams, www.houseflippinghq.com
- Keith Bresee, www.thetraffic.ninja
- Kevin Tang, www.hyperlush.com
- Laura Yates, www.laurayates.org
- Laura Wallace, www.worxgraphicdesign.com
- Liam Austin, www.smalltoday.com
- Lisa Manyon, www.writeoncreative.com
- Lisa Kozich, www.crockmoms.com
- Maggie Patterson, www.maggiepatterson.com
- Mark Asquith, www.excellence-expected.com
- Matt Kepnes, www.nomadicmatt.com
- Matthew Turner, www.thesuccessfulmistake.com
- Michael Port, www.michaelport.com
- Michael Levin, www.businessghost.com
- Michael O’Neal, www.solopreneurhour.com
- Michele Spieza, www.bespoke-app.com
- Mike Goncalves, www.thewellnessbucket.com
- Mike Mallory, www.waveborn.com
- Monika Kanokova, www.mkanokova.com
- Monique Williams, www.moniquewilliams.co
- Nancy Gaines, www.nancygaines.com
- Natasa Denman, www.ultimate48hourauthor.com.au
- Nathan Chan, www.foundrmag.com
- Nick Stephenson, www.noorosha.com
- Nick Loper, www.SideHustleNation.com
- Nicole Holland, businessbuildingrockstars.com
- Norm Bour, www.vapementors.com
- Pat Flynn, www.smartpassiveincome.com
- Patrick Roche, www.thinktankcoworking.com
- Paul Colligan, ThePodcastReport.com
- Phyllis Khare, www.phylliskhare.com
- Ray Edwards, www.rayedwards.com
- Rich Brooks, www.takeflyte.com
- Richie Norton, www.richienorton.com
- Rick Mulready, www.rickmulready.com
- Roberto Candelaria, www.sponsorshipbootcamp.com
- Russell Brunson, www.dotcomsecrets.com
- Sai Blackbyrn, www.doubleyourdatabase.com
- Sara Davidson, www.hellofearless.com
- Sara Hathaway, www.authorsarafhathaway.com
- Sarah Jones, www.ntrovertedalpha.com
- Scott Oldford, www.scottoldford.com
- Scott Voelker, www.theamazingseller.com
- Sean Ogle, www.seanogle.com
- Selena Soo, www.s2-groupe.com
- Shawn Manaher, www.bookmarketingtools.com
- Srinivas Rao, www.unmistakablemedia.com
- Stacey Alcorn, www.LAERRealty.com
- Stephanie O’Brien, www.movedbypurpose.net
- Steve Kamb, www.nerdfitness.com
- Steve Olsher, www.steveolsher.com
- Sunny Bonnell, SideHustleNation.com
- Susie Harrison, www.pencilsofpromise.org
- Suzanne Evans, www.suzanneevans.org
- Tanya Smith, www.tanyasmithonline.com
- Tim Paige, www.leadpages.net
- Toby Jenkins, www.bluewiremedia.com.au
- Todd VanDuzer, www.desertanvas.org
- Tom Ziglar, www.tomziglar.com
- Tony Loyd, www.cultureshift.com
- Vincenzo Landino, www.vincenzolandino.com
- Will Mbok, www.mybodyofknowledge.net
- Yamile Yemoonayh, www.CreativeWebBiz.com
- Yaslynn Mack, www.mackagencyonline.com
- Yifat Cohen,
JOHN LEE DUMAS WAS ABLE TO ACHIEVE SUCCESS BECAUSE HE FOLLOWED A FORMULA THAT INCLUDED THE FOLLOWING:
1.RESEARCHED, VETTED & DEVELOPED A GREAT IDEA
As the founder of EOFire, Dumas learned quickly that one of the top sources of frustration for entrepreneurs or small business owners is their inability to set goals and accomplish them. Powered by a large network of small business owners that listen to his EOFire podcast, Dumas set about to:
- Create the Freedom Journal to solve a major problem of his listeners;
- Help his listeners to set S.M.A.R.T. goals;
- Provide his listeners with a unique step-by-step system to ensure they accomplish their goals.
In essence, John Lee Dumas wasn’t attempting to sell his supporters something they don’t want, but rather offered them something they NEED.
Secondly, unlike most unsuccessful crowd funders that ask for money first—and develop the product second, John Lee Dumas rolled up his sleeve. He researched his product and performed all necessary due diligence. He found a designer, an illustrator as well as an editor. He sourced a manufacturer and only after the product was produced with some packaged books in inventory did he reach out to the crowd funding community for financial support. In other words, Dumas was prepared—exuded credibility and his supports rewarded him with donations—quickly.
2.CREATED A WINNING SOCIAL MEDIA STRATEGY
John Lee Dumas created a winning social media strategy that included active retweeting, collaborative sharing by business supporters and an active Facebook fan page that offered exclusive benefits to donors contributing $17 or more.
3.FOUND AN UBIQUITOUS PRODUCT/SERVICE WITH GREAT APPEAL
Like Donald Trump and Bernie Sanders, John Lee Dumas tapped into a segment of the U.S population that is frustrated. Yes, it is true, anger and frustration permeates American society. Americans are angry at their government and their employers; but, most appear to be frustrated with themselves for not implementing strategies to improve their lives and businesses. In fact, according to Quinnipiac University National poll released August 13, 2015, "A total of 71 percent of American voters are "dissatisfied" with the way things are going in the nation today, including 41 percent who are "very dissatisfied". Only 2 percent are "very satisfied," with 26 percent "somewhat satisfied."
John Lee Dumas has cunningly found a way to channel the anger fueled by Donald Trump—and has applied it to positive pursuits, namely to help individuals, entrepreneurs and small business owners to achieve their goals.
4.DESIGNED A GREAT PRODUCT: PRODUCED A GREAT VIDEO
Powered by a great idea, a great product and a receptive target market—John Lee Dumas and his team created a commercially viable product that includes a printed journal, a mobile phone app, ebooks and a user-friendly website and a social media presence.
5.PREPARED A HELPFUL MEDIA KIT
John Lee Dumas was very successful at securing media publicity for his Kickstarter crowd funding campaign because he not only hired a professional crowd funder in Brandon Adams; but, he also hired Tom Morkes, a book launch & public relations expert who helped him to create a media kit.
This investment made it easier for journalists to quickly and effectively review and, or write about the “Freedom Journal” Kickstarter crowd funding campaign. In fact, the beautiful high resolution images you see illustrating this case study was pulled directly from Dumas' Kickstarter campaign landing page. This page also played host to videos, testimonials and related content and was instrumental in the “Freedom Journal” Kickstarter campaign receiving national press from:
6.CREATED A TIERED MONEY REQUEST STRATEGY (THAT DID NOT REQUEST MONEY IMMEDIATELY BUT GAVE DONORS A CHANCE TO EVALUATE)
John Lee Dumas created a tiered money request that allowed potential donors who were not quite ready for the 100 day challenge (the 'rallying cry' behind the “Freedom Journal”) to review the “Freedom Journal” with just a $2 or more donation. In addition, Dumas offered individuals or small business owners free business listing on the EOFire.com website in return for their support. You can review the updated list at http://www.eofire.com/share/.
7.GREW INTEREST BEFORE HE CLOSED
Preparation for the "Freedom Journal" began as early as January 2015 when John Lee Dumas forged a strategic partnership with Prouduct.com to source material, source suppliers, designed and assisted in the production of the journal. This alliance led to joint venture promotions including collaboration on the “Freedom Journal” Kickstarter campaign and even an endorsement on the Prouduct.com website. Needless to say this wasn’t the only relationship Dumas secured to prepare his supporters in advance of requesting funds—and is a main reason why he successfully raised the crowd funding amount he requested.
8.COMMUNICATED OFTEN WITH SUPPORTERS & KEPT IT PERSONAL
In addition to direct commenting on Kickstarter, John Lee Dumas managed an active Facebook and Twitter page to communicate with supporters. By backing the “Freedom Journal” Kickstarter campaign at $17 or higher, donors gained access to exclusive content and received support and guidance from John Lee Dumas and other amazing Entrepreneurs.
The Freedom Journal Mobile App users also accessed inspirational quotes; daily and nightly reminders to accomplish tasks and one-click social sharing of progress.
9.APPEALED TO HIS EXISTING NETWORK OF SUPPORTERS
EOFire podcast listeners were major supporters of the “Freedom Journal” Kickstarter Campaign. This should come as no surprise as the journal was designed for the very audience that tunes in each month to the EOFire podcast.
10.APPEALED TO EVERYONE ELSE WITH GREAT REWARDS
John Lee Dumas was able to reach non-supporters of the EOFire podcast by targeting Americans and international listeners that are frustrated by their inability to achieve goals. Clearly, this was effective as the Kickstarter campaign exceeded its target by more than $425,000.
11.OFFERED COMPLIMENTARY REWARDS
To reward potential donors who were not quite ready for the 100 day challenge, John Lee Dumas came up with his own version of “Shareware” by offering an editable or fillable PDF of the first 30-days of The Freedom Journal for a donation of $2 or more.
12.TARGETED & CONNECTED WITH BUSINESS SUPPORTERS
John Lee Dumas did not rely exclusively on individual consumers to pledge their financial support. As the producer and host of the EOFire podcast Dumas was able to reach millions of small business owners. To engage his listeners to support the Kickstarter crowd funding campaign, Dumas leveraged the EOFire podcast to offer the following rewards:
- John Lee Dumas joined small business donor on his/her own EOFire Podcast and shared podcast with his “Fire Nation” when the interview was complete;
- Small business donor received a feature episode on the EOFire podcast;
- John Lee Dumas appeared as a keynote at event produced by a donor
13.SECURED PARTNERSHIPS THAT ENHANCED VALUE OFFERED SUPPORTERS
John Lee Dumas forged strategic partnerships with a number of businesses and experts including Prouducts.com, crowd funding expert, Brandon T. Adams who offered 30-minutes of crowd funding consulting support.
These relationships allowed Dumas to offer value-added benefits to business supporters, deliver a donor and customer experience he could not otherwise deliver on his own and extended his reach outside of his personal network.
MORE GREAT ARTICLES TO READ ..
If you would like to learn more about Crowd Funding and how it can be used to grow your publishing or expert business we encourage you to review the following articles and ebooks:
- Where To Sell Your Successfully Financed Crowd Funding Projects Or Gadgets?
- How To Market Or Finance Your Crowd Funding Projects On A Shoestring Budget
- Crowd Funding Is The Next Best Hope For The Caribbean And The Rest Of The Developing World
- Crowd Funding Is The Greatest Con In History Or The Greatest Opportunity - What Do You Think?
- Submit Your Crowd Funding Services For Free Listing In Better Way To Crowd Fund Directory
- Crowd Funding Is The Greatest Con In History Or The Greatest Opportunity
- DIY Crowd Funding Public Relations Kit
- 101 + Websites And Media Outlets To Promote Your Crowd Funding Campaign Or Business
[i] “Collaborate” Publishizer Crowd Funding Campaign, https://publishizer.com/collaborate/
[ii]Tom Morkes, http://tommorkes.com/the-complete-guide-to-crowdfunding-your-book/
[iii] Matt Gartland, Author, http://winningedits.com/crowdfunding-books/
[iv]Shape Of Design Kickstarter Campaign, http://www.kickstarter.com/projects/30453381/the-shape-of-design
[v]Robin Writes A Book Kickstarter Campaign, http://www.kickstarter.com/projects/robinsloan/robin-writes-a-book-and-you-get-a-copy