Episode Details
Back to EpisodesHe's 22 and Took the Family Business to $1M a Year. He Pays Himself $400 a Week.
Description
Matt McCrink is 22. A year ago he graduated from Auburn and walked into his dad's business — a third-generation operation brokering custom plastic and rubber components for manufacturers. For two decades it had been doing about $50K a year in profit. Basically a side hustle. In the twelve months since Matt joined, revenue went from $380K to over $1 million.
I brought Matt to New York to understand how he did it, and to push him on what comes next — because when I asked him what he's actually building toward, he couldn't say the number out loud. We got there.
We break down:
- How fixing a paper-based supply chain — they were a full year late on orders — unlocked the growth
- Why the family handshake deal needs to become a real agreement before the value gets created, not after
- The $10M and $50M goals Matt was embarrassed to admit, and why committing to a number matters
- Why his Facebook ads experiment is a waste of time, and the customer visits he should be making instead
- The distributor playbook: find the component fifty manufacturers all use, buy in bulk, hold the inventory, charge for the service
- Whether to kill the break-even manufacturing side of the business
Matt committed on camera: $2 million in revenue a year from now. We're having him back to check.