Adam Fazackerley is the COO and Co-Founder of Lay-n-Go, LLC. Fazackerley started his career at UUNET Technologies. He went on to found concept2creations, LLC, a corporate design company focused on building brands and producing every aspect of their digital / print marketing strategies. He worked as an Associate with Osborn Capital and later went on to co-found Fortify.vc. Both firms were focused on early-stage technology fund investing in Mid-Atlantic, Silicon Valley, and talent-rich technology markets. In 2010, Adam and his wife Amy founded Lay-n-Go, LLC. The company is focused on designing and developing innovative organizational solutions for life, play, and travel. To date, they have been awarded three US Utility Patents on their invention and distribute their products to leading retail companies domestically and internationally. Fazackerley serves on the U.S. Chamber of Commerce Small Business Council and the Syracuse University Library Advisory Board. Adam graduated with a B.S. degree in Marketing from Syracuse University.
Adam answers all of Stephanie’s speed round questions which lead into a lively discussion of music and how the decade of the 70s reigns in superiority!
Once they get down to business, Adams shares how his, and Amy’s, decision making process really started with her dad. They asked him, “What do you think of this business, and would you invest?”
Their questions were immediately answered with, “How are you placing it? What are you doing? How are you producing it? What’s your supply chain?” It was then that they realized that maybe investments from family weren’t the best choice.
For Adam, he thinks the scariest questions are when you ask for an opinion and get answers you don’t fully understand.
Ultimately, one must stand behind the decisions made and realize there is a lot of learning in the process and it is rewarding.
Adam shares, “If you have an idea that keeps you up at night thinking, and it could change the world, in a little or big way, then go after it!” Hearing feedback from others will make you think and ask questions of yourself which lead to growth. Always think big, dream big but know your path to profitability.
When you face uncertainty and doubt, don’t lose faith in yourself or your model - always remember it doesn’t happen overnight.
Make sure, when talking with investors, do not pretend to know it all. You can lose credibility - it is okay to say, “I don’t understand.” You can’t put the top of a building on until the middle is built! So build the middle and build confidence - asking helps.
Situational awareness is crucial! Know your audience and know your investors! Some can be picky and aggressive, and that’s ok. Each have their own personality, so know how to handle them. Do your research. You don’t need everyone to love you, just need to know what a good partnership will look like. Will they be there for the long haul?
There is an analogy you will hear about between investors and the comfort of shoes - and believe it or not, it makes perfect sense!
To be successful, you need the pure warrior mentality!
When it comes to saying “yes” for requests, Adam takes into consideration will it change the world, do I connect with it, and is it something Amy and I can do together.
If you’re overextending yourself, you are worthless to everyone.
Adam’s ask to listeners: Do you think we can build our product in America and hit the price points that consumers want?
He would love to hear it! And, there is a special offer for listeners! 40% off orders on their site with free shipping for orders over $50. Enter StephRocks when ordering!
Resources Mentioned in this episode
LinkedIn Profile : https://www.linkedin.com/in/adamfazackerley/ UUNET : https://en.wikipedia.org/wiki/UUNET Fortify.vc : https://www.crunchbase.com/organization/fortify-ventures Lay-n-Go : www.layngo.com PATENT 9,0984,459 (July 2015) : https://patents.google.com/patent/US9084459 PATENT 10,016,036 (July 2018) : https://patents.google.com/patent/US10016036
PATENT 10,561,213 (February 2020) : https://patents.google.com/patent/US10561213B2
Finance-Ability is a boutique consulting firm dedicated to helping business owners and startups find their best options for growth funding. Founded by financial strategist and transaction expert Stephanie Sims, Finance-Ability can help any business owner identify the right funding partners and get through fundraising as painlessly as possible.
Visit their website to take their online assessment test to help you find out which kind of funding is the best fit for your business right now. They also have a ton of resources to help you understand business processes and financial decision-making that can help you start and build your own empire so be sure to check them out.
Stephanie has over 20 years of experience having worked with companies like Goldman Sachs and CSFB. If there’s anyone with their heart in the right place when it comes to championing the dreams of small business owners and startup companies, Stephanie is that person. Let Finance-Ability help you get the funding you need and deserve to get your dreams soaring high towards your own brand of success.