New Group Focuses on Potential for CPG Startups

A new Bentonville-based enterprise is aiming to make the area a hub for CPG startups.

Selling to the Masses, launched by members of supplier development firm 8th & Walton, will offer not just educational classes designed to equip companies with knowledge and skills that can help put products onto shelves at top retailers, but a “lab” in which a team of experts will provide a hands-on mentoring process.

The idea sprung partly from the work done by California-based Y Combinator, a group that does seed funding for information technology startups.

“It’s easier to get accepted into an Ivy League school than to get invited to work with these people,” said Matt Fifer, co-founder of 8th & Walton and one of the forces behind Selling to the Masses.

STTM’s lab also will operate on an invitation-only basis. Those chosen will receive, among other things:

• Seed funding to cover travel and living expenses.

• Work space in Bentonville.

• A project captain who works with groups from start to finish.

• Access to a network of angel investors.

“I think we’re putting our money where our mouth is by investing our time, our money and our reputations in this thing,” Fifer said.

STTM’s mentors include Andy Murray, retired founder and chairman at Saatchi & Saatchi X, Jonah Berger of the University of Pennsylvania’s Wharton School and four former Wal-Mart Stores Inc. vice presidents.

Fifer stressed STTM, however, is dedicated to helping clients get product placement with retailers like Amazon.com, Walgreens and Home Depot, in addition to Wal-Mart. Fifer said 8th & Walton’s clients, conversely, focus solely on doing business with the world’s largest retailer.

“We teach others to fish instead of fishing for them.”

At STTM, the process will be more all-encompassing, with an ultimate goal of having successful clients open shop and add employees in Northwest Arkansas.

“We plan a trip and take you fishing,” Fifer said.