Product development - and especially hardware and electronics product development - is a complicated art. By the time we started our Kickstarter project, we had already invested closer to £20k in the Triggertrap Ada project, and we had an additional chunk of cash we were ready to invest into the project.
Following our original budgets, we would be able to deliver the project if we invested £100k into Triggertrap Ada, but we also felt that we would be able to generate more PR and excitement around the Kickstarter project if we hit our goal faster, and if we raised a higher multiplier of our goal. With the money we had already invested, we were feeling quite confident, and set our Kickstarter goal at £50k.
When we ended up being backed for just over £290k, we correctly identified that we would have more money to spend on the R&D phase of the product, but where we went wrong is that didn't police exactly how much more we were spending. We hit several big bumps along the road, and that set off a chain reaction. Not in our worst nightmares did we expect that our costs would spiral so dramatically out of control.
What we hadn't anticipated, was that getting a higher amount of support was worse, rather than better: If we had had a smaller amount of money to work with, the Ada project would have ground to a halt much earlier, and the problems we were facing wouldn’t have been masked by the money we had in the bank account at the beginning of the project.