My First Million #35 - King of Kickstarter
Jan 15, 2020
Peter Dering, Founder and CEO of Peak Design, shares his inspiring journey from construction worker to innovator in camera equipment. He reveals how a simple idea led to a $70 million revenue business, all bootstrapped with just $25K. Dering discusses the power of Kickstarter, unique product designs like his travel tripod, and how he intertwined sustainability into his business model. He also explains the importance of collaboration, customer feedback, and maintaining a vision of social responsibility while growing a successful brand.
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Origin of Peak Design
- Peter Dering quit his construction job with $25,000 in savings to travel the world.
- He invented the Capture camera clip after struggling to carry his camera on his travels.
First Kickstarter Success
- Peak Design's first Kickstarter for the Capture clip was a huge success, becoming the second most funded project at the time.
- Dering was unsurprised by the success, confident in the product's usefulness.
Problem-Focused Design
- Focus on identifying and elegantly solving real problems, not just adding gimmicks.
- Clearly communicate the problem and your solution in your marketing.