Planning Notes introduces the planning process behind everything Wadizcreates, following the five Ws and one H.
If you're curious about the thought process behind creating impact, be sure to hear this story!
Planning Notes, filled to the brim with thoughtful deliberation and sincerity—we're writing it down now✍
If I had to pick one word that symbolizes Wadiz, it would be 'funding.' Wadizis a crowdfunding platform envisioning a world where anyone can receive investment and grow together. It's no exaggeration to say funding isWadizvery identity. So, what kind of funding projects, for what purposes, and how do they open and close Wadiz? We'll hear that story from Project Director Place.
* Quick note! Wadiz project types include funding and pre-orders (reservation purchases). In this interview, 'project' refers to both funding projects and pre-order projects.
🙋♀️ Hello. I'm Place, a Project Director (PD) who helps new products and brands succeed on Wadiz.
I believe no one Wadizknows the project lifecycle as well as our PDs. What steps does a project go through from launch to closure?
The Project Director serves as a facilitator for successful project execution, accompanying the maker from start to finish. They collaborate closely across all areas—from determining the product for the project, to product concept, marketing strategy, reward structure, and advertising budget.
First, we hold a meeting with the maker. Based on the concept discussed during the meeting, the maker writes the story (detailed page). After that, they prepare the required documents and story content for project review and submit them directly Wadiz. Then, the review process begins.
Most projects have a pre-launch period. This is when we engage in the most intense deliberation and action. It's the point where marketing becomes essential. It's also the time we communicate most frequently with the maker. Typically, from the initial meeting until the project concludes, we communicate with the maker for a minimum of three months and up to over a year. We work together toward the shared goal of maximizing exposure for 'our' project and product, gaining significant support, and achieving a successful conclusion.
A single project likely requires a great deal of dedication and time from both the maker and the producer. Is there a guiding principle that serves as a compass throughout that process?
We work with the belief that Wadizcreates countless opportunities in this land.
Crowdfunding is a method where you take orders first and then produce. It allows for demand forecasting and reduces the risk of inventory burdens. Given that it enables rapid market viability testing with minimal resources, making it a tremendous advantage for brands just starting out.
That's why many of our makers are first-time solo entrepreneurs or small brands. We make a special effort to offer them plenty of encouragement and support. Especially during initial meetings, we avoid jumping to conclusions about a project's viability and instead give our all during consultations and meetings.
Meeting with the Maker
You mentioned working closely with the maker across all areas, from product selection and concept development to advertising budgets. So, do you also handle project planning?
We also directly plan products that seem likely to succeed if launched Wadizand propose them to brands. Mostly, we play a role in helping makers' products and brands flourish by creating synergy with Wadiz funding.
Which makers do you primarily collaborate with?
There are truly makers with all kinds of personalities. Among them, the makers who stick with it the longest are the 'makers who never give up'. Crowdfunding is a method anyone can try, but if the results of a challenge fall short of expectations, it's natural to hesitate about the next one. I've seen many makers who used their first project as a foundation, learned more, and developed further, eventually achieving funding in the tens of millions. By continuing to challenge themselves and improving communication with their product and consumers (supporters), and and other aspects of their projects. We've been with the makers who never give up and effectively utilize the Wadizplatform to grow the longest.
Wadiz School Lecture for Makers
Prospective makers, where do you learn about products? I'm curious where your projects begin.
Since my main category is beauty, I mostly discover things on Instagram. I search for beauty products so often that the algorithm has automatically set my feed to beauty now. (laughs)
When I discover a product that seems unique or would stand out more as a crowdfunding project,I send a cold email. Literally, it's reaching out to someone I've never met before saying, "Why not launch a projectWadiz? I'll help you!" If I don't get a reply, I'll do whatever it takes to find a contact point, even asking around. That's how I secure the meeting that signals the start of the project.
You mentioned, "When you discover a product that seems like it would stand out more when funded through a crowdfunding project," could you elaborate a bit more?
Most of these products are truly unique and one-of-a-kind. Wadizis a platform that supports new ideas through 'crowdfunding,' and it has many supporters who share that mindset. That's why new idea products are naturally more appealing and feel more at home Wadizthan on other platforms when they meet their funding. I recently sent a cold email to a lip-plumping device company. Since most lip products come in the form of lip balms, the device felt like a fresh approach.
Makers can also find Wadizthemselves and open and run their projects directly. So why do PDs seek out makers and collaborate with them?
Those who truly understand crowdfunding Wadizundoubtedly Wadiz. Our PDs have an instinctive sense that 'this product would create more synergy if launched as a project Wadiz!' Makers unfamiliar Wadizcrowdfunding might hesitate to take the plunge due to uncertainty. They might not even know about crowdfunding itself. That's when we take the initiative to reach out first.
Cheering each other on through challenges and growing together feels truly meaningful. Even when meetings are held, are there cases where projects can't be launched?
There are almost none. Regardless of marketability, once a maker has a meeting, they try to push the project through to the end.Creating a world where anyone can take on a challenge' is Wadizgoal. In fact, many projects have received far more explosive reactions than anticipated.
In fact, after meetings, I often find myself thinking, 'I really need to do better on this project.' This happens when the product is truly compelling or the maker's determination is strong. When I encounter a project that has both of these qualities, I prepare myself for a big deal.
What do you think is unique about Wadiz funding/pre-order projects?
From the perspective of planning and executing projects, the biggest advantage is that brand name value or price isn't the primary factor determining whether someone funds or pre-orders. Wadiz supporters are happy to open their wallets if they like the product or the story. After clicking the fund (or pre-order) button, you have to wait at least two weeks to receive the product. Since supporters don't need the product immediately, I think they place greater importance on the product itself or the story behind it. This means Wadiz projects are confident in their product or story, right? 😁
Do you have any memorable projects?
After achieving 300 million won in funding for the sulfur body bar, I proposed a pump-type sulfur body wash as a follow-up product to the A-Flo maker. Let's launch it as a crowdfunding project. I was practically obsessed with the maker for a whole year. My standard greeting became, "When's the body wash coming out?" Thanks to that intense obsession, after a year, the body wash projectwas launched. As their first crowdfunding project, it achieved approximately 88 million won, setting a new personal best record for the maker. It's especially memorable because it wasn't just the first product crowdfunding project; it was a result we developed and created together.
We've maintained a consistently good relationship with the maker for three years now. They even invited us to tour their manufacturing plant during the product production process. While we design projects and formulate strategies, it was my first time seeing the actual manufacturing process. Thanks to that, I gained a much better understanding of the maker's perspective, which has been immensely helpful in consulting on projects. While we provide support to the maker, we also receive valuable assistance like this.
The Sulfur Body Wash Project and the Factory Tour I Was Invited To
Do you have a project you'd like to showcase Wadiz?
When people think of beauty, they usually think of cosmetics. Recently, however, intangible beauty service projects like personal color consulting and facial massage classes are gradually emerging within the beauty category. Since these are the types of makers and projects that were hard to find Wadizbefore, I really want to run them this year. It will be a new challenge for me and for aspiring makers alike!
Planning Notes Series Collection 👇
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