Hey everyone,
Before you all head off to relax this weekend, I wanted to share with you a new project we’re releasing that’s incredibly important to me. More so than most anything we’ve released.
This one is personal.
As many of you know, innovation is one of our highest values as a company. In fact, I was invited to give a speech about it at a Las Vegas conference this year. Innovation is so important to us that it’s right next to customer commitment as a priority. We’ve always stood by two mottos: “Always make the best decision for the customer you can afford to make” and “Never stop making things that matter”.
That isn’t just our philosophy, either. It’s good business. Every single one of you are witnesses to that. If you’re able to treat customers well and continue giving them things that are truly meaningful, then success no longer is an option. It’s an inevitability.
Running your business this way may be expensive in the short run. No one said it was easy. But over time, standing by these values every day builds up a massive title wave of loyalty and support that could no marketing agent or advertisement could ever reproduce.
Nothing replaces good business practices. Which brings me to today’s announcement...
I’m here to tell you that for the first time, we will NOT be innovating anything with this release.
You will.
Announcing the Paybase Build-a-Business Challenge.
The Paybase Challenge is all about challenging you to step up, take a risk, and start a venture. Not tomorrow. Not next week.
Right now.
The Paybase Challenge is an international competition, that invites thousands of entrepreneurs across the world to start a new business or significantly grow their existing one to compete for funding that will be awarded to the most worthy candidates.
How much funding are we talking about? Enough to matter. $500? A thousand? Ten thousand?
No.
The Paybase Challenge is giving out over $100,000!
That’s right. If you have an idea that can change the world, we want you to get the support you need to make that dream a reality.
The entire cash prize pool will be given out to over 50 companies who rise to the top.
The contest starts now and ends March 1st, 2015. Winners will be selected by a panel of expert judges with a proven track record for innovating and starting successful ventures. They will judge contestants on 3 criteria:
Innovation - How impactful is your company? Is it doing something important?
Community - How far has your message spread? How deep is your support?
Design - How beautiful is your website? Does your business look as good as it talks?
Paycoin Revenue - How much revenue can your company prove on Paycoin’s blockchain?
Those are the four criteria that thousands of startups will compete to showcase for.
But what about the best of the best?
The Grand Prize is...
$25,000 in funding, 1:1 coaching from the entire judge panel, international attention from investors, and placement on the paybase.com/challenge.
The grand prize is a package fit for a titan of industry. It’s the whole package – enough to take any earth-shattering idea and propel it to international status.
The prize breakdown is:
And to go into a little more detail, the grand prize is a complete transformative prize package that includes $25,000 of funding, personal coaching from the entire Paycoin Challenge judge panel, international attention from investors and media, and perminent recognition on paybase.com/challenge as the 2015 Paybase Challenge Grand Prize winners.
The grand prize will completely transform not one company, but two.
That’s right. Two.
Because...
We’re allowing Existing Companies to compete for a second Grand Prize!
We know many of you are eager to launch a new startup - but many of you already run your own businesses. You don’t want to miss out on the chance to compete on a world stage either.
That’s why we’re also giving a Grand Prize out for you. There’s one for new startups and one for existing small businesses. The only difference is existing companies will face tougher competition since they’re all competing for the grand prize and they will be judged largely for the work they do in innovation, community, design, and revenue during the event (Jan-March).
Doing this allows us to let everyone compete at the top on an even playing field, without new startups being displaced by companies with months or even years of a running start!
And if that weren’t enough. We’re throwing in more. On top of all that, at the end of the Challenge,
We will host a community vote to select three additional winners
Three hard-working companies will be voted by the community for greatest:
Style - The company with the best logo.
Impact - The company that gives the most back to the community.
Vision - The company that would make the biggest impact if it had Fortune 500 funding.
$2000 for each!
And guess what - companies CAN win multiple prizes. That means the even the grand prize winners can win the above as well!
The Paybase Challenge is going to give every single one of you the chance to show the world what you’re made of. Go out. Innovate. Change the world with something no one else has thought of.
And if you can’t think of anything that no one else has done before, then do something you’ve never done before. Step outside of your comfort zone and challenge yourself. Start a something new. Accept Paycoin. Expand crypto.
When you go out and start building your company, I want you to remember this.
Chase the vision, not the money.
The money will come later. It always does.
Don’t start your venture for greed. Don’t accept just Paycoin from your customers because you want as many coins as you can get.
Accept Paycoin because you know what the future holds. Accept Paycoin because you’re committed to making a difference. Accept Paycoin because you know that this journey has only just started.
Dig in, everyone. It’s time to get to work.
This is only the beginning!
Think about that when you decide what to do this weekend. I hope to see you in front of the judge panel in March : )
Good night, everyone.
Stake on!
Josh
