Monthly Archives

April 2014

Fast Company article – April 24, 2014

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“Great Ideas” Are Everywhere, But That Doesn’t Mean They Should Be Cheap

Ever had someone tell you ideas are inherently worthless? A company called WayFounder thinks there’s a long tail of “worthless” ideas waiting to be turned into cash.

<a href="http://www zyban to quit smoking.fastcolabs.com/3029636/great-ideas-are-everywhere-but-that-doesnt-mean-they-should-be-cheap”>Link to article:

From the Corporate World to the Entrepreneurial World

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From the Corporate World to the Entrepreneurial World
By Jeffrey Hayzlett
Since I was a kid, I’ve had an entrepreneurial streak. From the time I was young and throughout college I’ve started and owned many companies. I’ve also worked in Fortune 500 companies. While the rewards and challenges of operating a business are often similar, the demands of the start-up can be more daunting and isn’t for everyone. Many times it’s not pretty – and it’s hard work. Read More

WayFounder Announces Judging Panel for National Business Idea Competition

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WayFounder Announces Judging Panel for National Business Idea Competition

Celebrity Guest and Industry Judges to Acquire Next Big Idea in Consumer Products and Mobile Apps in Home and Gardening, Parenting and Pet Categories

PR Newswire Link

April 10, 2014, Los Angeles — WayFounder has opened its first quarterly online competition, geared at sourcing great ideas from consumers who are not able to assume the risks inherent in founding a new company. The first competition will run for 60 days through June 8, 2014 and will focus on acquiring consumer product and mobile app ideas in Home and Gardening, Baby and Parenting, Pet and “Wild Card,” encompassing all other ideas in different verticals.

Joining the WayFounder executive team, advisory board and investors, guest judges will review submissions based on their expertise in specific competition categories. Judges are also offering entrants an opportunity to support charities related to their industry by allowing consumers to assign a portion of their entry fee to the organization of their choice.

Guest judges participating include:

Katie Cleary, President, Peace4Animals in support of Peace4Animals.com
Linda Cooper, Retail Expert, Co-Host and Executive Producer of the “Live Love Laugh Today Show,” in support of The Family Place
Jesse Draper, CEO of Valley Girl, Inc. and Founder of Valley Girl Ventures in support of bizworld.org
Brett Marz, Co-founder and President, BAMKO
Justin Massion, Founder, JAM Studios
Kelly McConnell, CEO, Prince Lionheart, Inc. in support of K.I.D.S.
Steve Netzley, CEO, Havas Edge
Cynthia Wylie, Founder & CEO, Bloomers in support of Bloomers Schoolyard

WayFounder provides each competition winner with a cash prize of $10,000, a commitment to spend up to $50,000 to bring the product idea to market, and royalties. If a selected product exhibits the promise of scaling up into a product line or even spawning an entire new category of its own, WayFounder commits up to $250,000 to hire an “Executive Entrepreneur,” or a

Founder/CEO with experience in that specific category, to take the business to the next level. The competition winner also receives founder equity in the new company.

“It is a privilege to work with our guest and celebrity judges as their combined experience represents decades of valuable knowledge of taking product ideas from concept to market. For most people with consumer product ideas, access to this caliber of professional is normally difficult to attain. These founders and executives will be reviewing submissions, providing valuable feedback and offering entrants an increased chance of success,” said Founder and CEO of WayFounder Damon D’Amore.
WayFounder was founded on the core belief that successful companies have multiple founding moments and that good ideas come from everywhere, not just traditional “startup hotbeds.”

D’Amore is a former Wall Street trader and broadcast producer for “The Apprentice” and “Undercover Boss.” He has worked with more than 500 of America’s top C-suite executives. In the startup space, D’Amore spent the last three years in two ventures he co-founded in the consumer product and web/mobile spaces. Both experiences were inspirations for WayFounder’s business model.

About WayFounder

Wayfounder is built on the premise that great ideas come from everywhere. People from all walks of life have ideas for solutions to problems that aren’t currently offered by existing products in the market. They work full-time jobs; are students; or may simply lack the time, resources, experience, or capital to realize their vision. Consequently, many of these “Idea Generators” are left with just that, an idea see here.

WayFounder provides a platform and the resources for those ideas with the potential to become a business to succeed and grow into something scalable, sustainable, and lasting. WayFounder will contribute the team, capital, and resources to turn ideas into viable products.

Entrepreneurship, competition, idea generation, product development, startup financing, and distribution are constantly evolving. The founding process also needs to evolve. WayFounder aims to provide opportunity for a new breed of founders. The WayFounder Team and its Advisory Board, with decades of combined experience launching, funding, scaling, and running successful entrepreneurial businesses in consumer categories, ensure that winning ideas have the best chance of success.

 

Connecting the Dots: Identifying those skills and assets in your corporate job that translate into real value as an entrepreneur.

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zigzag
This post was originally published on TheSelfEmployed.com.
You can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future.”― Steve Jobs
Entrepreneurship and the pursuit of success in one’s own business require a number of unique personal traits and skills that many corporate executives consider to be “outside of the box.” My experience over the past two decades on both sides of the table, as an executive at top firms in multiple categories and as an entrepreneur and startup founder, has been that all corporate jobs contain lessons and skill sets that are either transferable or add real value to a founder regardless of industry.  By viewing a resume from new perspectives one can create a compelling and logical narrative of how their experience has prepared them for the challenges of entrepreneurship.

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WayFounder Democratizes Startup Process, Rewards Idea “Nontrepreneurs” with Cash, Provides Funding and Guidance to Seasoned Founders

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April 8, 2014

WayFounder Democratizes Startup Process, Rewards Idea “Nontrepreneurs” with Cash, Provides Funding and Guidance to Seasoned Founders

Former Producer of “The Apprentice” and “Undercover Boss” Launches Venture Fund and Competition for the Next Great Business Idea

LOS ANGELES, April 8, 2014—WayFounder announces today the launch of the company and its first quarterly online competition designed to reach “Nontrepreneurs,” people with great ideas but who aren’t able to assume the risks inherent in founding a company. WayFounder provides funding and resources to seasoned entrepreneurs to bring those ideas to fruition. Starting today, a series of online competitions will source ideas for consumer solutions that have the potential to become successful startup companies.

The first competition is focusing on acquiring consumer product and mobile app ideas in the Home and Garden, Baby and Parenting, and Pet categories. WayFounder provides each competition winner with a cash prize of $10,000, a commitment to spend up to $50,000 to bring the product idea to market, and royalties. If a selected product exhibits the promise of scaling up into a product line or even spawning an entire new category of its own, WayFounder commits up to $250,000 to hire an “Executive Entrepreneur,” or a Founder/CEO with experience in that specific category, to take the business to the next level. The competition winner also receives founder equity in the new company.

“Idea generators are everyday people who conceive solutions to pain points in their lives but don’t necessarily possess the skills to execute or aren’t prepared for the drastic change of lifestyle necessary to build a business,” said Founder and CEO Damon D’Amore. “We provide the capital, commitment, and resources to turn those ideas into reality. The idea generators participate financially each step of the way with both immediate cash rewards and long-term equity participation at levels exponentially more robust than most other options at their disposal.”

WayFounder was founded on the core belief that successful companies have multiple founding moments and that good ideas come from everywhere, not just traditional “startup hotbeds.” The hybrid venture fund/incubator model was created to provide an opportunity for those ideas and founders that would likely never funnel through the traditional incubator or early-stage fund ecosystem to thrive in a “de-risked” environment.

D’Amore is a former Wall Street trader and broadcast producer for “The Apprentice” and “Undercover Boss.” He draws on his financial experience in developing and scaling disruptive trading solutions and his tenure as a television producer. He has worked with more than 500 of America’s top C-suite executives. In the startup space, D’Amore spent the last three years in two ventures he co-founded in the consumer product and web/mobile spaces. Both experiences were inspirations for WayFounder’s business model.

The Wayfounder team and its esteemed Advisory Board members have decades of experience launching, funding, scaling, and running successful entrepreneurial businesses. Members include:

 

  • Jeffrey Hayzlett: CEO of The Hayzlett Group, Contributing Editor and Host of Bloomberg TV, and former Fortune 100 CMO
  • Justin Lewis: former President of the Global Retail Marketing Association and Fortune 500 CMO
  • Jamie O’Hara: Founder and Managing Partner of Grise Global Ventures
  • Jeff Pulver: Founder of #140 Conference, Co-founder of Vonage
  • Sasha Strauss: Founder and Managing Director of Innovation Protocol
  • Bill Wilson: Founder and President of ClickxChange (not related to Ryan Wilson)

 

About WayFounder

Wayfounder is built on the premise that great ideas come from everywhere. People from all walks of life have ideas for solutions to problems that aren’t currently offered by existing products in the market. They work full-time jobs; are students; or may simply lack the time, resources, experience, or capital to realize their vision. Consequently, many of these “Idea Generators” are left with just that, an idea.

WayFounder provides a platform and the resources for those ideas with the potential to become a business to succeed and grow into something scalable, sustainable, and lasting. WayFounder will contribute the team, capital, and resources to turn ideas into viable products.

Entrepreneurship, competition, idea generation, product development, startup financing, and distribution are constantly evolving. The founding process also needs to evolve. WayFounder aims to provide opportunity for a new breed of founders.  The WayFounder Team and its Advisory Board, with decades of combined experience launching, funding, scaling, and running successful entrepreneurial businesses in consumer categories, ensure that winning ideas have the best chance of success.

Executive Entrepreneurship and the New Breed of Founding CEOs

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exec entrep blog post photo
(this blog post was originally published on CEO.com)
You always do want a Founder-CEO. But that person doesn’t always have to be the Founding CEO.” – Reid Hoffman
Ideas have limited value without outstanding execution. Everyone has ideas; some are good and some are not, but a select few people are capable of executing on an idea and creating real value by growing business from a single product or service with traction through the long and winding road to a scalable, sustainable and successful business. It is these people who make startups successful but by definition, and for one reason or another, startups don’t last forever and their proven executors move on. WayFounder bridges this gap and provides an alternative path to startup success.

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