A talk with Steve Waddell about "Valuepreneurs."

Today, a talk with my client Steve Waddell, reality-TV pitch-show veteran and author of the soon-to-be business bestseller "Valuepreneurs"

Originally published at the Jason Pettus newsletter on January 26, 2024, and republished here at this website on the same day.

Why do I call Steve's book a "soon-to-be bestseller?" Because he's already had so many amazing things happen with it before it's even come out—testimonials from a Forbes columnist, an offer to turn it into a textbook for high-school classes, and more. Of course, none of this is surprising for the already accomplished Waddell; a graduate of the Newport News Shipbuilding Apprentice School who spent the beginning of his career creating risk-management processes for nuclear-powered aircraft carriers, later in life he got the idea to invent a new type of bathroom sink with a water-fountain spigot on its top, named the Nasoni after the Italian public fountains that work the same way but without the spigot, and ended up on several of these reality-TV pitch shows that were on the air in the 2010s, including both Shark Tank and Funderdome.

The gamble paid off, and the product can now be happily purchased from retailers nationwide, as well as being a finalist in Fast Company's 2020 World Changing Ideas prize, and an NIH grant-winning hit among the disabled and those with Parkinson's disease. So what to do next? Why, write a book about how you can do it yourself, of course! His Valuepreneurs is the real deal, a densely factual book chock-full of actionable, practical advice, and not the usual 300 pages of fluff surrounding a single listicle of good ideas that make up so many of these "YOU CAN BE ON SHARK TANK TOO" titles littering the back alleys of Kindle Unlimited. And I can state that for a fact, because I was the one who edited this book, so I held Steve's feet to the fire and made sure it was devoid of fluff! (And as always, for the sake of my professional ethics, let me remind you that every book featured in this newsletter is one I got paid to edit.) 

After a long pre-publishing process so to gather up a lot of early feedback and reviews, the book finally just came out to the public two days ago, so I'm excited to have Steve join us and do what I think will actually be the first-ever public talk about the book, right here after release. Fellow business writers (and there's a lot of you in my client list) will find all this especially interesting, so please keep scrolling for the entire thing.

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So before we get to the book itself, let's talk about these reality-TV pitch shows you were on in the 2010s, which partly inspired you to write Valuepreneurs. What was the process like to apply and get on the first one? Did that then make it any easier to get on the others? What do you think was the greatest benefit you got out of those experiences? If someone's interested in doing this themselves, what's a good piece of advice you learned only by going through it?

The reality-TV pitch shows—they were quite a journey and definitely a spark for writing Valuepreneurs. The process to get on the first one was both exhilarating and nerve-wracking. It involved a detailed application, pitching the idea, and showcasing not just the product but also the story behind it. The key was to be clear, concise, and compelling—to really grab the producers' attention.

Once I got onto the first show, it did open doors for the others. It's like having a stamp of credibility; you've been on one, so the others take notice. But each show had its unique application process and vibe, so it wasn't a free pass, more like a foot in the door.

The greatest benefits from these experiences were twofold. Firstly, the funding. It was crucial in helping to grow the idea, especially in the early stages. And secondly, the validation. Having industry experts and seasoned entrepreneurs believe in your idea? That's priceless. It's a massive confidence boost and a signal to the market that you're onto something good.

For anyone looking to dive into this world, my biggest piece of advice is: learn to embrace the pause. This might sound simple, but it's powerful. I learned this in Toastmasters. When you're speaking, it's so easy to fill every silence with "um" and "uh." But in these high-pressure pitch situations, those fillers can be distracting. Toastmasters taught me the power of a well-placed pause—it can add emphasis, give you a moment to think, and keeps your speech clear and effective. So, when you're pitching, remember, it's okay to pause. It shows confidence and control. And that can make all the difference in how your message is received.

Let me do a mea culpa here, and admit that when you first decided halfway through our editing to change the focus and name of your book, I thought it was a big mistake and I urged you not to do it; yet your intuition turned out to be correct, and the book's now much stronger and tightly focused than it'd been before. How do you decide where the line lies between following the advice of people you've hired to give you advice, and sticking to your guns about something you feel is really important? I think this is an especially interesting question for self-publishers like yourself, who have an entire team of experts they're getting opinions from daily—multiple editors, multiple designers, a marketing squad and more. How do you stay true to yourself in the middle of that chaos while still doing the things that are ultimately best for your book?

As for balancing jumping on these opportunities versus doing the research, it really feels like a dance between intuition and due diligence. Sometimes, you just get that gut feeling that screams it's the right move. It's like an internal nudge saying, "Do it, or you'll regret it!" So, you kind of just bite the bullet and go for it. There's a unique energy, a certain buzz that comes when an idea feels just right. But, of course, it's also crucial to temper that gut-driven enthusiasm with a slice of practicality. You want to quickly dive into the research, check out the feasibility, potential profit margins, and really get a grip on the market's needs.

Like a lot of how-to business guides, yours is filled with illustrations, and something I found interesting about yours is that you taught yourself the basics of illustration software, so that you could do "wireframes" of what you had in your head first before sending it along to your paid designer. What have been the advantages of this compared to the time cost of learning that software? Do you recommend that other self-publishing authors do this? 

The journey with the illustrations in my book was quite an eye-opener! I didn't dive deep into learning illustration software, but I am pretty good at creating concepts in PowerPoint. These initial concepts were simple, and I would send them to a cost-effective illustrator on Fiverr based in Pakistan. The work was good, but initially, there wasn't a consistent "brand feel."

Then, everything changed when I created a flyer and worked with a lady from India. Her work was fantastic, and the colors she chose were just spot-on. It was a lightbulb moment for me—those colors became the brand colors for Valuepreneurs. I decided to have her redo all my previous graphics to achieve a consistent look and feel throughout the book. The transformation was incredible! Everything in the book now resonated with the same visual language, making a massive impact overall. As a visual learner myself, I understand the power of good graphics.

In terms of the advantages versus the time cost, I think the biggest benefit was being able to visually communicate my ideas effectively to the designer. It saved a lot of back-and-forth and ensured that the final graphics were aligned with my vision. Plus, being involved in the initial design process gave me a better understanding of what works visually and what doesn’t.

Would I recommend this to other self-publishing authors? Absolutely, especially if they have a clear visual idea of what they want. It doesn’t require in-depth software skills—even basic tools like PowerPoint can help you convey your ideas to a designer. It streamlines the process and can significantly enhance the final product. However, it’s also important to balance the time invested in learning and creating these wireframes against the other demands of writing and publishing a book. But if you’re visually inclined and enjoy this part of the process, it can be both rewarding and effective.

Your book covers a lot of ground, basically showing someone how to go from just an idea they have in their head for a new product to eventually holding one in their hands in the aisles of Target. Out of all these steps, which do you think is the absolutely most crucial one or two for someone who's never run a company before and is basically starting from scratch? What about those who HAVE run a small business, but have never dealt with bigger issues like international supply chains or asking for millions from venture capitalists?

Absolutely, when it comes to transforming an idea into a tangible product, the most crucial aspect, hands down, is getting in front of your actual customer. This is critical not just to ensure that your product aligns with what they want, but also to confirm that you can deliver it at a price point they're willing to pay. This is true whether you're a first-time entrepreneur or a seasoned business owner stepping into new territories like international supply chains or venture capital.

For those starting from scratch, understanding your customer is key. You've got to step out of your comfort zone and interact with potential customers—and I'm talking about strangers, not just friends and family. Friends and family might fall into the trap of "confirmation bias," telling you what you want to hear because they like you. Strangers will give you the honest feedback you need. They'll tell you if your idea has merit, if there's a real need for your product, and if your proposed price is acceptable. I go into this in the book.

If someone really wants to learn more about this from one of the foremost experts in the country, they will want to hear John Nottingham, Co-Founder and Co-CEO of Nottigham Spirk. John will be speaking on Day 1 of the Idea to Product Summit I’m hosting in late February. John’s company has more than 1,450 patents and have been involved in bringing revolutionary products to market like the Spinbrush toothbrush, the Dutchboy Twist and Pour paint can, the rotating lollipop (which turned into a $1.2b product!) the Navage nasal irrigation system and so much more. 

One of the most interesting things about your post-publishing marketing plan is how you just accidentally stumbled across the fact that early readers were responding very passionately to the idea of your book doubling as a school textbook, which prompted you to put out a less expensive "student edition" that can be bought in bulk for things like high school entrepreneurialism clubs and the Future Business Leaders of America. How often have these kinds of "happy accidents" happened over the course of your varied career?

The world of happy accidents in a career can be quite the adventure, can't it? It's funny how often these serendipitous moments pop up, especially when you're deeply immersed in your work as a new author and simultaneously managing a grant from the NIH. In my experience, they tend to happen more frequently than you'd think. It's like once you're in the flow of your career, these little surprises and opportunities start revealing themselves in the most unexpected ways. Like with the cheaper edition of the book. I always wanted my business books in color, and the hardcover is going to be that way. And I was planning on having a cheaper paperback version in color as well, UNTIL I decided to print a proof copy just to see how it turned out. And with only 2 minor tweaks to graphics, it turned out better than expected so I went with it. That brought my author copy price down to under $6, which is great because at that price I can actually hand copies of it to key individuals whenever I need to and it won’t be that hard on the wallet.

Where do you think the balance should lie with jumping on these sudden opportunities while the iron is hot, versus doing some research into how feasible it is and how much a person might or might not profit? 

I'd say, definitely strike while the iron is hot, but with one eye always on the bigger picture. You don't want to leap without at least peeking first. It's about striking that perfect harmony where your instinct meets insight. You know, the best ventures often start as a spontaneous spark but take shape and flourish thanks to thoughtful planning and execution.

Easily the most intimidating part of your book to me is when you discuss ramping up to a million units of your product using overseas factories in countries such as China. I know you've actually gone through this process yourself with Nasoni (in fact, I've seen the fascinating photos of you actually over there at the factory with your manufacturing team), so maybe you could share a little about what that process was like to go through for the first time yourself? Let me again ask about something important you maybe learned actually going through that process that you wouldn't have learned otherwise.

Oh, visiting China for the first time for Nasoni was an experience I'll never forget! It was absolutely fascinating, a real adventure. You know, you hear so much about a country on the news, but being there is a whole different story. The warmth and kindness of the people really struck me. I remember just after landing, I had this limo from the hotel waiting for me at the airport. I asked the driver how long of a ride it was and he indicated he didn't speak English. So, out comes my iPhone, and I use Google Translate to ask him. The moment I played the translated question out loud, he looked at me through the rearview mirror, grinned, and got his phone out to reply. It was like something out of a Star Trek episode—using these 'communicators' to break the language barrier!

Culturally, it was so different, but what an amazing experience. I made so many new friends and was so grateful for the trip. It's etched in my memory, and I'd jump at the chance to do it again. One thing that really stood out was the drive to the airport. They had these big interstate signs with vertical arrows for the highway and curved ones for exits, just like back home. But here’s the catch—they were color-coded! Red, yellow, or green, indicating the traffic conditions. It was a moment of, "Why aren’t we doing this in America??"

Now, about ramping up to thousands of units in overseas factories like in China. Let me tell you, it's an intimidating yet exhilarating process. Going through it for the first time with Nasoni was a steep learning curve. Being there, on the ground, at the factory, you get this hands-on experience you just can’t replicate. You learn the importance of building a relationship with your manufacturing team, understanding their work culture, and the nuances of their production processes. It’s one thing to discuss things over emails and calls, but being there in person, seeing the operation, and interacting with the team—it changes your perspective. You learn to appreciate the intricacies of manufacturing on such a large scale. It's not just about numbers and contracts; it’s about people, communication, and understanding different ways of working. That first-hand experience is invaluable—it teaches you patience, flexibility, and the importance of mutual respect and understanding in business.

The pre-publication blurbs you've put together are far and away the most impressive lineup I've seen from any client in my entire career—a Forbes columnist, a co-founder of MapQuest, multiple CEOs, and a lot more. Are these all people you knew before the book, or did you literally send cold copies of the PDF to any strangers and say, "If you like it, maybe you'll say something nice?" How does a person even go about meeting people in their profession like this anyway?

You know, gathering those pre-publication blurbs was quite the journey in itself! A mix of familiar faces and reaching out into the unknown. Some of these amazing people were part of my network, thanks to my experiences and connections made over the years. But others? Well, it was about having the courage to just reach out and ask. Sure, I got turned down a couple of times, but that's all part of the process.

Take Chris Heivly, for example, the co-founder of MapQuest. That was purely about seizing the opportunity. He was speaking at a local 1 Million Cups event, and he mentioned that people could book a call with him through his website. So, I thought, why not? I signed up, we had this fantastic call, and he agreed to write the foreword for my book. It's amazing how things turn out when you're just willing to put yourself out there.

As for meeting such influential people in one's profession, it's a blend of networking, being proactive, and sometimes, just good timing. Attending industry events, keeping an eye on opportunities like guest speakers or webinars, and not being afraid to introduce yourself can open so many doors. It's about building relationships, not just contacts. And of course, always being genuine in your interactions—people can sense when you're truly passionate about what you do. So, it's a combination of nurturing the connections you already have and daring to step out of your comfort zone to make new ones. It's all about taking that chance.

One of the things I love about the press you set up to publish this is that part of its profits are being donated to German Shepherd rescue organizations, a cause that's a big part of your personal life. Could you tell us a little about that? Do you consider this a benefit of self-publishing, that you were able to take some of the money that would've gone to a publisher under a traditional system and instead spend it this way? Or would you have figured out a way to get that money into the hands of the rescue places no matter what?

The story behind RosenThor Publishing is something quite close to my heart. It's all thanks to our rescue German Shepherds, Rose and Thor. My wife created this name for an online login, and when I saw it, it just clicked—“Voila! That's it!” It was the perfect name for our self-publishing venture on Amazon.

We've always been passionate about German Shepherd rescue organizations, and we regularly make donations to them. So, when it came to publishing the book, it felt natural to continue supporting this cause. With no traditional publisher involved, it became an easy decision to divert a portion of the profits to these organizations.

Self-publishing really opened up this avenue for us. In a traditional setup, a significant chunk of the proceeds goes to the publisher. But with self-publishing, we had more control over where the money went. And yes, while we support the cause regardless, self-publishing made it much more straightforward. It’s one of those unexpected benefits of going the self-publishing route—having the freedom to align your business practices with your personal values and passions. For us, it’s about giving back to a cause that's given us so much joy and love through Rose and Thor. It's incredibly fulfilling to know that with every book sold, we're helping support German Shepherd rescue organizations.

And finally, let me end today with the same two questions I'm asking everyone in the newsletter this year, so that I can compile all the answers in December and we can all see how they compare to each other. First, can you tell us about something you spent money on that it turned out you shouldn't have or you regret doing, either in making the book or marketing it afterwards? And second, what's something unexpected that's turned out to be a positive or make a big difference?

You know, navigating the digital aspect of being an author can be quite a ride! Take my website, for instance. I initially set up https://valuepreneurs.com, investing time and money into it. But then I found myself wrestling with the limitations of WordPress and its myriad of plugins. So, I shifted gears and built another platform that integrates everything—CRM, email, hosting, you name it, all in one place. It seemed like the perfect solution to streamline everything. But here's the catch—I haven't fully transitioned yet because of how busy I am, especially with the upcoming summit. So now, I'm juggling both platforms, which means double the expense. I'm planning to consolidate everything post-summit, but for now, it's a bit of a balancing act.

Speaking of making an impact, let me share something about raising book awareness. The traditional advice was to get on 100 podcasts, but honestly, the thought of pitching to podcasters was daunting. So, I took a different route—I decided to host a virtual summit. And it's been an amazing journey! The summit is scheduled for Feb 21-23, it's free to attend, and I've got some incredible CEOs and industry leaders lined up. What's great is that all the sessions are pre-recorded, ensuring no last-minute hiccups. Plus, this gives speakers the chance to engage live during their sessions. Hosting this event has not only allowed me to build stronger connections but also positioned me as an authority in the entrepreneurial space. Post-summit, I anticipate this will open doors to podcast appearances without the need to "beg" for a spot. Check out the summit here, I hope you’ll register and share it with anyone you know who may benefit: https://2024.ideatoproductsummit.com   

Regarding spending regrets and positive surprises: well, I guess my dual website situation fits the bill for a regret. In hindsight, I should have researched more thoroughly to find an all-in-one solution from the get-go, rather than spending on two separate platforms. As for the unexpected positive? Definitely, the virtual summit. It's turning out to be a game-changer in terms of networking, boosting my authority, and promoting my book—all without the traditional podcast tour hustle. It’s a testament to thinking outside the box and leveraging digital platforms creatively.

My thanks again to Steve for this really eye-opening and inspiring talk. Like I said, Valuepreneurs finally came out for public sale just a couple of days ago, so I hope you'll have a chance to go by and pick up a copy, and then afterwards join me at Goodreads and leave a review of it. I'll be at Steve's coming summit; will you? And don't forget that my new freelancing website at Pettus.rocks is now open for business! You can check out my guide to the self-publishing process, read hundreds of testimonials (and see a lot of cool book covers to boot), and learn more about me and my now 30 years as a paid professional in the arts. (Note: In my twenties, "20 bucks and a ride to the venue" sometimes counted as "paid professional.") Remember, if you book an editing job with me through it, and remind me that you're a newsletter subscriber, you'll receive 25 percent off your final bill—all jobs, all bills. I have lots more talks with recently published clients lined up for you here soon (and don't forget to drop me a line at ilikejason@gmail.com if you've got a new book you'd like to talk about here), so I'll see you again next Friday!