Kickstarter, and other crowdfunding sites like Indiegogo, have created an unprecedented level of access to funding for inventors, entrepreneurs, and start-ups.  It’s easier than ever before to develop a new product, manufacture it, and launch it to market, but it’s also easier than ever before to make some huge mistakes, which can sink an otherwise promising venture.

Crowdfunding is a fantastic way to fund a new product venture.  You can essentially pre-sell your product before your produce it.  (Yes, I know, on Kickstarter you’re actually giving rewards to backers and not ‘selling’ a product – nudge nudge, wink wink.)  You’re able to test the market, and understand if there is pull for your product before you invest in production.  And, aside from what you invested in the crowdfunding campaign, you’re using someone else’s money to launch your business.  All in all, a fantastic deal!

» Read more: How much do you REALLY need to raise on Kickstarter to launch your new product?