How to Write the Story of a Maker Who Successfully Received 2 Billion in Funding [Genuio Maker, Part 2]
Together with wadiz
People Making Waves
Game-Changer, Genuio
Key Points for Makers
- Why Genuio Chose wadiz
- The Secret Behind Their 2 Billion Won Funding Success
- To Aspiring Makers Considering Starting a Business
▲ Watch the video now
Why Genuio Chose wadiz
In 2019, Genuio Maker launched on wadiz and raised 200 million won in its very first funding campaign.
The brand easily surpassed its internal goal of 100 million won set before the funding campaign was launched, achieving twice that amount.
In response to countless requests for a second funding campaign, they launched a second funding campaign and raised 1.8 billion won—nine times the amount of their first funding campaign.
Genuio Maker, which raised 2 billion won in just two funding campaigns— Why did they start on wadiz?
① Solving Inventory Issues Through Pre-Sales
Do you know when the vicious cycle for fashion brands begins? It starts the moment inventory begins to pile up.
That’s why, in the early days of the business, Genuio ordered only the bare minimum of inventory. But people always recognize a good product!
People wanting to buy the products started asking, “Why is it out of stock?” and “When will it be back in stock?” Genuio’s dilemma only deepened.
So they looked for a platform that allowed them to ship products without holding inventory, which led them to join wadiz. The advantage of being able to pre-sell without holding inventoryis what led Genuio into the world of funding.
② wadiz: The No. 1 Funding Platform
Some of you are probably thinking, “Wadiz isn’t the only platform for funding out there, is it?”
I was curious about wadiz, too—why they chose to start there.
The answer I received was touching. “We chose wadiz because it’s number one among them~”
They said they reached out to wadiz first precisely because it was the “number one” funding platform.
That’s how the partnership between wadiz and Genuio began.
③ Supporters Who Appreciate the Value of Waiting
And there’s another major reason: wadiz supportersunderstand the value of waiting.
Genuio shoes are manufactured and shipped from Italy. Because of this, when they told customers, “Delivery will take three months,” many found the wait exhausting and difficult. After all, more than half of customers likely want to buy and receive their products quickly.
But wadiz was different. Because the platform is made up of people who understand the funding ecosystem, they patiently waited despite the long production and shipping times.
Wadiz supporters who willingly provided funding for the project even though they knew they’d have to wait
The Secret Behind Our 2 Billion Won Funding Goal
The story behind Genuio’s first funding campaign as a maker, “Perpetuo Sneakers”
Seong Yul-deok, CEO of Genuio, says he put a lot of effort into preparing the Perpetuo Sneakers funding campaign.
In the process, he discovered insights thatmany makers mightotherwiseoverlook. We’rerevealing his secrets rightnow.
① Actively Incorporating Feedback!
Genuio’s makers reportedly revise their Story about 100 times before the deadline.
They make a point of actively incorporating feedback from the project managers and editorswho assist with funding.
Since these professionals have seen a wide variety of funding projects and built a track record of success, they were confident that trusting and following their advice would lead to good results.
As expected, the funding campaign was a huge success!
② Is it a story that makes you want to read it all the way through?
Before I get to the most important part of the story, let me ask you a question first.
When writing a project story, what message do makers place at the top?
Or what message should they put at the top?
Seong Yul-deok, CEO of Genuio, shared the following valuable tips for many makers on how to write a successful Story.
He says you shouldn’t try to make people buy right away—instead, you should give them the impression that “I want to read this Story all the way through.”
At first, the Genuio maker also structured the Story to make readers think, “I want to buy these shoes,” but upon finishing it, they realized it was filled with nothing but overly commercial and clichéd messages.
So they shifted their mindset to this:
“Instead of using the first two scrolls to convey a message that makes people want to buy, let’s make them want to read the funding page all the way through!”
By focusing solely on this approach when developing their message, they achieved great results.
Genuio’s “News” page, which reached 100% of its funding goal within 20 minutes of launch
To aspiring makers considering starting a business:
"Overcome Your Fears"
Seong Yul-deok, CEO of Genuio, had already experienced failure once while founding a startup.
He says that after failing once, he was afraid to try again. He also felt overwhelmed, not knowing where or how to start.
Nevertheless, he says it was thanks to wadiz that he was able to bounce back like a roly-poly toy.
He advises that instead of worrying about failure, you should test your idea on the wadiz platform.
"If your business model is something that can be tested on a funding platform, it might be worth considering."
Seong Yul-deok, CEO of Genuio, overcame his fears and got started on wadiz.
If you’re hesitant to jump in blindly or are struggling to craft your Story,
I hope CEO Seong Yul-deok’s interview will be helpful to you, the maker.
▶ How to Start a Wadiz Project
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