There are a lot of people out there asking themselves, and others, “What the devil is LH Labs doing???” In regards to crowdfunding, Larry, Casey and I put together this little guide to help you figure out why we’re doing the things we’re doing.
Phase 1: The Crowd Designing Phase
As we’ve gone down the road of crowdfunding and crowd designing, we’ve decided to divide our efforts into TWO phases.
Due to nature of ‘crowd designing’, the actual products/perk you’ll receive will more often than not be an improvement upon the initial product offering. In addition, you’ll also receive a substantial discount on products purchased through our campaign since we utilize this as our research and development stage. In nutshell, your input and opinions are more valuable to us than any revenue that is brought in.
After analysis of the historical data, we’ve found that within a period of four weeks to eight weeks AFTER the campaign closes, we’re able to finalize 90% ~ 95% of the final specifications of the products. During this period, our delivery time may increase but will become much more accurate than the dates first provided in the campaign perks’ content. Any new delivery date prediction will be just that, a prediction. This is the normal process of research and development. The simpler the product, the shorter the development process.
We’ve also found that adding an additional four to eight week buffer allows us to better compensate for possible production delays due to upstream vendors mishaps or other QC issues. For example, Geek Pulse was originally scheduled to be delivered by April of 2014. After the campaign ended, we finalized the (vast) product specification and re-estimated the delivery date for September 2014, in the end, we started delivery in November 2014.
If patience just isn’t one of your strong suits, or you simply want our products NOW, you can visit our marketplace to purchase our exisitng product offerings and have them delivered immediately.
Phase 2: Crowdsourcing / Pre-Sales Phase
In this phase, product specifications and details are basically complete with the possibility of further upgrades or add-ons in addition to the original offerings. Also, our production flow will already have been established and progressing toward being 100% optimized.
Again, if you have urgent needs, or simply want our products NOW, we suggest you head over to our marketplace to purchase our existng product offerings and have them delivered immediately.
Before you pledge for your desired perks, make sure you understand which phase the campaign is and you’re comfortable with the delivery time. Thank you for understanding and we hope we’ve been able to provide some clarification on our process!
LH Labs Team