Hey everyone!Although I really can't let a ton of details out, the past few years I have been in an on-again/off-again position working on a tech product. TLDR: started working it, COVID came and jacked up part-cost and made inventory sketchy, had people fall through, started a different business, got depressed, and I stopped. I picked away at it slowly but man it felt impossible. Recently I got to it again by cutting out alcohol and reminding myself that this is something I personally want, that it is not just a business idea.I say product as I'm not 100% sure how much of a business it is, vs a salable product. I've got a couple hundred results from a targeted poll and outlook is good. There is potential for partnerships with larger companies, however, especially with data. There is only one other competitor in the market, with an annual revenue of around 7 million. That said, our item favored much higher in the poll results than the - 95%.I'm finally closing in towards the final functional prototype and am slated to get a batch of ~20 models for preliminary testing for function, feedback, and further app development. With all the data gathered in the prototype phase I want to start rolling into the larger audience, but am unsure which market is best; Investors or Crowdfunding. I have my personal thoughts below:Investors:Can provide early assistance with production. I'm personally a mechanical engineer with quite a bit of manufacturing experience, but I am by no means an expert.Can allow the product to hit the market hard - no production delays (as compared to crowdfunding, where I would likely ramp production after the product hits the market)I'm only one person, I know investors like seeing a "team effort" Hell, I do too, but between a depression, losing friends due to lack of contact, and people just generally not being interested in working after-hours (especially with no pay right now), I haven't had the time to build a solid team. Well, besides my brother who is in business and has supported me by helping with a few hours worth of presentations/slides/market analysis.I don't know how I'd market by production through an investor. crowdfunding has the "Social" side of it.Absolute fear of financial failure. Hell, I live day-to-day under the completely irrational fear of losing my job day-by-day. I'm a hard worker and know my stuff, but that fear never truly leaves, does it. +Larger corporation contacts; the product I am working on has a massive potential to be sold to larger companies, groups for employee use or gift. Getting contacts to promote the product in this way would be astronomical.Crowdfunding:Strong social marketing; I can release the product and work the market through social media. My current side business thrives on social media and I have learned a ton of different techniques and outlets.No need for total up-front money, and there is the safety net incase things don't work out.All progress is still reliant on me. By marketing through a crowdfunding source I my not be able to gain contacts as easily as I can through and investor.I am a very social person. I can work a crowdfunding site well enough to keep regular updates, interactions. -Not quite as easy to expand. I want to be able to grow fast. Because it is a product, I believe once V1.0 hits the market, it should sell quick. While a crowdfunding site is great for initial release, I worry about stalling out. +On the opposite side, KS/Indiegogo are great sites for tech products. I have personally seen and bought plenty that are now thriving.Anyways, If anyone has gone through this decision, let me know. Or, if anyone has any experience doing both, that works too! I know the decision/process isn't exactly binary.-T see hubwealthy.com/wealthy
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