Building a MVMT to a $100M+
Hello our beautiful friends! Today we have a very interesting conversation with Jake Kassan, a young passionate Californian entrepreneur who co-founded a very successful and internationally loved brand – MVMT Watches. Since early age, Jake was passionate about living the life of financial freedom. Today, he tells us his unique entrepreneurial journey and shares his business lessons.
Jake’s father was an entrepreneur – and it made him eager to learn how to make money. At the age of 10, Jake already knew he wanted to be successful and live the life where money couldn’t dictate him what he needed to do. That’s why Jake started his entrepreneurial journey so young.
“School system is designed not to make you an entrepreneur, but to make you an employee.” – Alex Ikonn
When Jake was 12 years old, he sold the lollipops and made between $300 and $400 in a couple weeks. At the age of 17, Jake launched his first business selling novelty T-shirts that included a microphone and lights, definitely a hit at night-club party scene in California. He then started an e-commerce business, NiteLifeDesigns.com, which he promoted successfully by making YouTube videos. At its peak, Nite Life Designs made $10,000 a week.
Jake dropped out of college when he was 19. Together with Kramer LaPlante, two brimming entrepreneurs launched MVMT Watches in June of 2013 with $300,000 they raised through two Indiegogo crowdfunding campaigns. Soon the Los Angeles-based start-up evolved into a huge success. And Jake did expect that success, because he believed in their product.
“My life philosophy is better to try and explore opportunities than look back and regret” – Jake Kassan
Navigating towards the right way using innovative marketing strategies and data driven thinking, MVMT quickly established itself as a lifestyle watch microbrand with a powerful online presence. Jake and Kramer were able to found a niche by advertising their product heavily on social media.In 2018, Movado Group (also known for selling Lacoste, Tommy Hilfiger and Hugo Boss) purchased the company for $100 million.
Before MVMT Watches launched, Jake was a 21 year old college dropout with more than $20,000 worth of debt to his name from previous business ventures. By achieving intense success he always wanted to achieve, Jake demonstrates –once again– that regardless of age, financials, circumstances, and even regardless of formal education, hard work, determination and strong belief always pays off, as long as you continue the hustle and are able to enjoy the process.
Here are some tips to young entrepreneurs starting out right now:
Try new things, and even if you fail, you can always learn from that.
Before starting your own business, try to find a job or mentors who work in the industry you want to get into. In the early stages, you can find a place to work that you really believe in, where you can feel fulfilled by building something with a team.
Talk to people –like CEOs, early employees, entrepreneurs, inspirational leaders– and learn from them.
Educate yourself: there is so much information you can find useful.
Decide why do you want to become an entrepreneur.
Hope you enjoyed this week’s episode with Jake, you can find out more about him here:
Designed to inspire you to live your own dream life.
You can find out more about Alex and Mimi here:
Mimi’s Instagram
Alex’s Instagram
https://www.youtube.com/mimiikonn
https://www.youtube.com/alexikonn
Produced by Jason Sanderson - Podcast Tech
Show notes by Veronica Joce
