Dave Lukas Chats with Matt Schroeder
105: Success Secrets from a 20 Year-Old Who Created a Million Dollar Business in Two Years with Matt Schroeder
This week’s Misfit Entrepreneur is Matt Schroeder. Matt is just your regular 20 something college student, who started a T-shirt company, Shelly Cove, with no business experience, did $12,000 in sales in its first week and over million in just about year.
Even more impressive is the fact that Matt not only wanted to create a great product, but also wanted to make a difference with it. The company donates 10% of its gross sales to sea turtle rescue.
In talking with Matt, I was blown away by the simple, yet genius ways in which he has grown the business and continues to expand its reach – especially using social media. So, I had to have him on to share his story and these success hacks with you.
Matt started Shelly Cove in college with his parents. They were his business partners. Matt has always had an interest in entrepreneurship, but had never started anything. When he came up with the idea for Shelly Cove came up, he decided to “just go for it.”
When the idea came to him, he was in the middle of engineering internship and one day, he was thinking deeply about if he really wanted to do it. He was talking to his parents and decided he wanted to do something on the side. They got to brainstorming together and came up with the idea. They spent the summer coming up with design ideas and getting things up and running…and when they launched, Matt could quickly see that it was not going to be a side business, but more of a full time business almost right away.
At the 7 min mark, Matt talks about the inspiration that really put him on the entrepreneurial path. Hint: It was a failure and his grades tanked – but it was all he needed to get the entrepreneur spirit.
The original idea for Shelly Cove was to create some T-shirts and sell them on Etsy, but changed to the business it is today. How did that all come together?
You started giving back from the beginning, what made you start out that way?
You chose to focus on women and children for your products and niche. Why did you do that?
How did you sell $12,000 in shirts in your first week?
At the 24 min mark, Matt talks about the marketing strategies he uses today…
Tell us about the “Rep” program you created…
At the 33 min mark, Matt talks about how important the packaging of the products were.
What advice would you give about making the leap to entrepreneurship?
At the 37 min mark, Matt talks about the most important thing he has learned about himself from this journey…
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