Learn continuously. Never stop. Focus on what you are good at and either strengthen or leverage your weakness.
Will Moffett is an entrepreneur at heart, and co-Founder at UpFund.io, one of the world’s largest e-commerce inventory crowd-funding platforms reaching 2 million Amazon sellers worldwide. He has vast experience in building multi-million dollar businesses. Throughout his career, Will has shared his advice with thousands of people worldwide on how to achieve wealth by selling on Amazon. He has built many private label products within the physical product industry and structured large teams around the world, selling millions of products imported from China.
Will’s entrepreneurial journey began after he graduated from college, joining the many college graduates in search of steady employment. He moved to Antioch, California, where he began investing in real estate. Mentored by his uncle, Will learned his work ethic along with the value trying and completing his projects. He opened a funnel cake shop, but the restaurant business was not his passion. He took a part-time job working for an airline as a way to fund and maintain his startup ideas. He also used the airline opportunity to travel the world. Throughout his entrepreneurial journey, Will even went homeless, forgoing his rent payments to fund his businesses. He worked odd hours, took showers at 24-hour fitness, slept in his car and put in long hours sipping lattes at Starbucks while using free WiFi to build his next opportunity.
Where did the idea for UpFund come from?
My Co-Founders and I were very successful Amazon sellers who needed additional funding to keep inventor for our store. We were having problems getting funding from traditional sources like banks, even though we had the revenue to back it up. After attending an Amazon Marketplace Trade Show, we discovered there were literally hundreds of sellers in the same boat. As a result, we decided to build a platform to fund successful products and sellers like us.
What does your typical day look like and how do you make it productive?
My typical day is meetings, meetings, meetings, and more meetings followed by emails, emails, emails and more emails! I work with affiliates, investors, key Amazon retailers and our team. Effective time management is key and I focus on the “must do” projects first, then work on those items with lesser priorities. Working longer days as an entrepreneur is just a reality.
How do you bring ideas to life?
Sometimes our best ideas come from UpFund’s users. We backlog the ideas and when one fits our vision for where are taking the platform, we build it into our features at the right time.
What is one trend that really excites you?
FinTech really excites me! Everyday people are being empowered to achieve the American Dream through investing and crowdfunding. I spoke to one investor who didn’t make a lot of money annually but he wanted to invest $39 every two weeks into products that could net him a 10% return on his investment regularly. He understood that compounding his investment over time could help him build his nest egg. That’s the mindset needed to succeed!
What is one habit of yours that makes you more productive as an entrepreneur?
Focus, focus, focus. I start and complete anything that I put my mind to, so I can get things accomplished and I don’t let anything get in my way.
What advice would you give your younger self?
Read everything you can get your hands on. Acquire mentors that have done the things you are doing so they can advise you of the pitfalls that will come your way.
Tell us something that’s true about you that almost nobody agrees with you on?
I’m futuristic and sometimes have wacky, outrageous ideas. Sometimes those crazy ideas have actual applications. You are only limited by your imagination.
As an entrepreneur, what is one thing you do over and over and recommend everyone else do?
Learn continuously. Never stop. Focus on what you are good at and either strengthen or leverage your weakness.
What is the one strategy that has helped you grow your business? Please explain how.
I’ve said it before: focus and work hard until it hurts. Literally. You have to be consistent and continuously keep striving towards your goals, letting nothing deter you.
What is one failure you had as an entrepreneur, and how did you overcome it?
When I first started out, I didn’t understand the sacrifices that are needed to succeed. You have to have the attitude that you’ll never quit. You have to give your heart and soul and pull out all the stops to achieve your goals. Never give up!
What is one business idea you’re willing to give away to our readers?
Finding a link into arbitrage businesses is a quick way to find financial independence, whether you choose to leverage a product, service, or labor.
What is the best $100 you recently spent? What and why?
I recently spent $100 on a registration to a trade show that led to a big business deal.
What is one piece of software or a web service that helps you be productive? How do you use it?
I use Amazon every day. I have to use it to know what will or will not work as an investment for UpFund’s investors.
What is the one book that you recommend our community should read and why?
Everyone should read “Four Steps To Epiphany” by Steve Blank. It maps out how to discover what your customers really want.
What is your favorite quote?
“Those who don’t seek to understand history are doomed to repeat it.” It was written by George Santayana.
Connect:
email: [email protected]
LinkedIn:
website: www.upfund.io
Mario Schulzke is the Founder of ideamensch, which he started a decade ago to learn from entrepreneurs and give them a platform for their ideas.