In October, we featured an article about the WaveMaster boat docking system. His docks are truly a green product, and they are made in the USA. He is an inspiration to many entrepreneurs who hope to follow the same path.
We recently got in contact with the founder of WaveMaster, Larry Moody, and asked him a few questions about his company and the inspiration behind it.
Tell us a little about Wavemaster Docking Systems.
WaveMaster Docking Systems was an idea that crystallized over a multi year period. After being terminated (see question #2), I went to my office and began to lay out the various components of a large commercial dock system idea that I had been contemplating for a couple of years prior. I began to formulate what I wanted to accomplish as an end result from the product development and the direction of the company. I knew that to create this new product in the most challenging economic times since the great depression would take strong financial partners who were visionaries and willing to go the distance. After securing Investment Partners, I assembled a virtual â€œdream teamâ€ of experts across multiple industries who are credited heavily in bringing this product line from my personal vision to beautiful finished products ready for the marketplace.
It was a â€œtall orderâ€ that eventually included the following:
- Product designed/priced to dominate a stagnant Industry
- The first true green commercial docking system in the Industry
- Modular components that reduced shipping cost and installation costs while designed to last longer
- Low to zero maintenance with an attractive aesthetic appearance
- Domestic/International patents applied for and domestic/International trademarks secured
- Products made in the USA, employing people in the USA, designed for global customers
What inspired you to launch your business?
It really came to into fruition when I was unceremoniously terminated by e-mail from the CEO of a Company that had provided me an employment agreement after they merged a company that I had co-founded. Since this was a â€œfirstâ€ in my personal career, it was shocking but something I had to deal with immediately. My wife was very supportive during this time and encouraged me to plan our â€œnext stepsâ€ and go with what I knew best. I determined that I had not lost any skill sets, just a salary and with that mindset, I began the process of setting a course of action that would lead me to the desired goal.
I had read often that the same glass that shatters glass also forges steel. I personally refused to be a victim in this circumstance and knew that I had to do whatever it took to change my circumstances into a winning position for myself and my family.
What was the idea-to-business process like for you?
I realized that to accomplish what most people would describe as â€œmission impossibleâ€, it would take a virtual â€œdream teamâ€ of experts across multiple industries. I also needed to get their â€œbuy-inâ€ to provide time and expertise at a price point that was affordable to be a part of developing the largest products of their type in the world.
As experts agreed to assist, many at low to no fees, I knew that I was operating in a blessed environment and it encouraged my personal faith to believe that the idea that was conceived in the mind would become reality. The credit list of the dream team is long and significantly loaded with industry related credentials. Two and a half years of â€œstaying the courseâ€ through multiple trials and testing has resulted in the product we all dreamed about. Once we started up the hill after burning our boats on the beach, the impossible became more conceivable and the clarity of our vulnerability drove us to success.
What separates you from the competition?
The Industry like a lot of others has managed to work itself into a commodity marketplace with little differentiation other than price. The primary components of other docking systems are constructed from concrete, wood, aluminum or steel with floatation used to support the deck structure. They use a variety of decking materials such as wood, concrete panels, composite lumber, etc. Most competitors manufacture components that are bulky in nature, costly to ship and install. A lot of dock companies are â€œbuild to orderâ€ and have a waiting list during the busy season.
WaveMaster Docks differentiates with the following:
- The first true green commercial dock system introduced to the marketplace
- Largest component products of their type in the world
- The floatation provided per module is typically 2-5 times the competition
- The floatation components are designed to â€œnestâ€, reducing shipping costs
- The decks are single piece (largest is 8â€™X24â€™) and are manufactured from composite materials
- Installation time is reduced offering additional savings to customers
- Finished docking system is low to zero maintenance
- Deck surfaces have no exposed hardware, so there is no chance of nail or screw heads harming feet along with no wood, so there is no chance of splinters, splitting or constant maintenance on deck surfaceâ€¦.simply power wash as needed to clean
Have you always been entrepreneurial?
Yes! Even though my background for the last two decades is in Corporate Manufacturing Management, I have always considered myself an â€œoutside the boxâ€ thinker and problem solver.
Do you have any goals you'd like to reach in the next year or so?
I plan to successfully launch our product followed by several other related products in development. I plan to establish WaveMaster Docks in the marketplace as the recognized emerging Leader in the Industry.
What are some lessons your business has taught you?
Patience and dedication to â€œstay the courseâ€ untilâ€¦..kind of like teaching a baby to walkâ€¦..you try until!
Is there anything else you'd like to add?
My personal faith in God and support of my best friend in the world, my wife, enables me to accomplish things that would only be a dream to others without a foundation of faith and loving support.
â€œI can do all this through him who gives me strength.â€ Philippians 4:13 NIV
Do you have any advice you'd like to offer fellow entrepreneurs who are just getting started?
To other professionals with entrepreneurial mindsets out there, displaced from employment or business failure for any reasonâ€¦â€¦I encourage you to give yourself a check up from the neck up and ask yourself the following:
- Have I lost any skill sets?
- Have I examined past failures without blaming others? Have I learned from past mistakes?
- Do I have business and personal relationships or mentors that I can safely take my new ideas to?
- Am I going to be a victim of my circumstances? Or am I going to do something to change my set of circumstances?
- Am I willing to burn the boats on the beach and head into battle with my new ideas?
- If the answers to the above questions are YES!
Get busy, cut quit out of your personal dictionary and stay the course until!