1. Makesmith CNC The Most Affordable Desktop CNC Router by Bar Smith & Tom Beckett

2. About Us Owl’s Nest Café ~2011UCSC Kresge Graduation 2013

3. About Us Bar Smith: Electrical Engineering major Tom Beckett: History major TIM minor TIM 80C - Spring 2012

4. Our Project Desktop CNC Router: CNC = Computer Numeric Control (meaning computer driven machine) Router = the dremel tool you see It cuts, mills, engraves, or shapes things out of raw material such as wood, plastic, foam, etc.

5. Developing the Idea Bar goes to graduate lab one day, sees cool stuff Bar comes home and looks online to buy similar tools for personal use Bar finds underserved market: accessible CNC technology for engineers, hobbyists Bar begins prototyping his own CNC machine

6. Funding Very clear there was a market we could provide to Starting our own business just after graduating was a dream We did not want to give up any initial ownership of our company We started researching Crowdfunding Platforms (ex. Kickstarter) Low barriers-to-entry for business novices like us Some popular Crowdfunding Platforms:

7. Funding Crowdfunding Basics: Minimum funding goal Defined campaign duration Estimate your costs Write a LOT about your project Take a LOT of pictures Make a video start developing your campaign early!!!...

8. Funding Kickstarter: 5% platform fee (if you succeed) 3-5% amazon payments fee (if you succeed) you get funds ONLY if you succeed If you DON’T succeed, you get $0 funding Indiegogo: 4% platform fee (if you succeed) 9% platform fee (if you DON’T succeed) you keep all funds raised (OR pay no fees and get no funds if you DON’T succeed) Rocket Hub: 4% platform fee + 4% credit card fee (if you succeed) 8% platform fee + 4% credit card fee (if you DON’T succeed) you keep all funds raised

9. Funding: Kickstarter is the most popular Several other CNC machines have had success there We like the idea of “All or nothing.” If we need $10,000 to make the project happen, $7,500 doesn’t really help Insufficient funding slows production down, which hurts the supporters that helped

10. Funding from Kickstarter dashboard from Rockethub’s “success School” Ends June 9 th !

11. Funding: Project Costs $3.35 shipping of Free business cards $15.00 domain name purchase $21.12 Home Depot material testing supplies 3 lunches for our Video-making friend ( + some product development) = ~$75.00 before Maker Faire … by then already at $40,0000

12. Useful Methods and Tools from TIM Methods & Tools Utilized: EVERYTHING... Bar did the Product Development. Specifically for me on this project: Project Planning Developing &Presenting Business Goals Vision & Mission PERT Charts Porter Model GANTT Aspects I would like to better develop: Marketing Strategy Market Research / Sizing

13. Insights from TIM In-Class & Beyond Groups: Learn to communicate with people with various communication tools Some teammates do not respond to email, but are always texting Some respond only on Facebook Find their preference Lots of lost time spent waiting on responses that could be answered immediately Groups: Deliver your deliverables to your teammates The people in these classes are future Entrepreneurs They are watching how you work; you should be watching how they work. They could be your business partners some day. You will need a team…

14. Insights from TIM In-Class & Beyond Start your assignments early Sleep on it Think about it while doing other things Be organized. Be resourceful. Video made for free. Art done for free. Don’t pay for services that people will make you think you need. Learn how to use social media – for business It’s becoming more and more of a necessity.

15. Insights from TIM In-Class & Beyond “Always launch.” – The Lean Startup by Eric Ries There is always something that can be improved. Turn in what you have… Put yourself out there. Friends, family, other connections are paying attention to what you are doing. Opportunities lead to exponentially more opportunities. It is uncomfortable… but entirely worth it.

16. Conclusion Kickstarter might be the greatest thing to ever be available to a starting entrepreneur or business person. Go try it!

17. Thank You Email us at: MakesmithCNC@gmail.com Website: www.MakesmithCNC.com Kickstarter: https://www.kickstarter.com/projects/makesmithcnc/makesmith-cnc- the-most-affordable-desktop-cnc-rout Any questions?