Everyone has been there, you’re playing beer pong and the ball rolls off the table. Do you wipe it off, throw it in a cup of water or use your shirt to clean the ball? All of those options are pretty terrible, welcome Slip Cup. Slip Cup is a great invention that raised over 20k of their intended 70k minimum on Kickstarter in just under 12 days. Slip Cup is a rim that fits inside of your average solo cup that prevents the beer pong ball from getting into your beer and from bouncing out of the cup.
Slip Cup was founded by 5 brothers and we got the opportunity to interview one of the founders, Chase Treibt. Chase gives insight into how they became successful and lays some tips for entrepreneurs thinking of launching their own crowdfunding campaign.
Slip Cup was started by you and your brothers. How does it feel to have your campaign funded with more than 19 days to go?
It feels surreal, it’s very relieving. I can finally sleep again! We are so grateful for everyone that donated and supported throughout this whole process.
How long was the research and planning phase before you launched your Slip Cup campaign and what did it entail?
We took about 8 months to take idea from concept to creation. A lot of time, market research, and redesigning went into before we were comfortable with launching the product. About another month we spent reading about kickstarter, crowd funding, and going viral in general. We did a week long soft launch, even though we wanted to have a longer one. The reason we adjusted was because we thought the dates were critical to the launch. June 23rd was the soft launch, a day after the first official day on a Monday. The next Monday was the 29th and that weekend was Fourth of July which is when beer pong is actually played the most in America, so we thought the word would spread.
Some creators have a tough time choosing between the two major crowdfunding platforms, Indiegogo and Kickstarter. What made you and the team go with Kickstarter?
Kickstarter was all or nothing, and we could only make the cups if it was fully funded. Also, I don’t know much about indiegogo, every time I saw an article on a crowdfunding it was always from kickstarter. So I just thought more people knew of kickstarter.
What was your marketing approach for Slip Cup’s campaign?
First, we wanted to get the word to our hometown, Brookfield, to help spread the word for us. They were amazing. Then, we messaged as many blogs, writers, and news outlets as we could. We thought if people saw it, they would like it and share it. It has been an amazing experience.
It’s amazing that at an average price point of a little over $11 you all were able to get over 70k in pledges rather quickly. How did you and brothers come up with a 70k minimum for your campaign?
So, what I think most people don’t understand is how the funding total works. The price of pack was $5 dollars, but you add $10 for shipping, so really each donation was $15 dollars to the total. And we don’t make any money off shipping. We did the numbers by using the cost of product, plus shipping costs, plus initial startup costs total, 8.5%that goes to kickstarter, and the profit from each donation. That came out to at least 70k to fulfill orders and start manufacturing.
What’s your biggest piece of advice for future creators and entrepreneurs who will be starting a crowdfund campaign?
Research, research, and research.
Numbers don’t lie.
Hustle, hustle, and hustle.
A good product never hurt anyone either.
What’s the plan for Slip Cup after the Kickstarter? Will you stick with direct sales from your website or will we be able to buy Slip Cups in gas stations, retail stores or even bars and lounges that offer beer pong?
We believe Slip Cup is a retail product, and we are going to do everything we can to make that happen.
Big question, who’s the best beer pong player between you and your brothers?
Lol Very funny question. My brothers know that I am THE best. Although, Kade is known as Kade “the last cupper” Treibt around here.