If you’re into audio and woodworking, you might have heard of Kirby Meets Audio, a company that builds and sells custom speakers online. But how did it all start? In this post, we’ll take a look at Kirby’s journey and see what we can learn from it.
Kirby started his company, Salvaged Audio, in 2010 when he was looking for a small Bluetooth speaker for his apartment. He couldn’t find anything that fit his style or budget, so he decided to build his own. He had some woodworking skills, but he didn’t know much about electronics, so he did some research online and learned how to put together a powered speaker using parts he could find online.
Kirby built his first speaker, and it worked! He was excited and proud of what he made, so he showed it off to his friends and family. One of his friends liked it so much that he asked Kirby to make one for him. Kirby realized that there might be a market for custom speakers, so he decided to test the waters.
He took the profit he made from building his friend’s speaker and used it to order parts for a new speaker. He put the speaker up for sale on Etsy for double the price that it cost him to make it. He didn’t know if anyone would buy it, but he wanted to see if there was demand for his product. Luckily, the speaker sold, and Kirby used the profit to buy parts for two more speakers.
Kirby continued to build and sell speakers in his spare time, using the profits to reinvest in his company. He never went into debt or borrowed money, and his company has been profitable from the start. Kirby was able to grow his business at his own pace, using a model of testing and going slow to make incremental progress.
Kirby’s story is a great example of how you can start a small business with minimal investment and grow it over time. Here are some lessons we can learn from Salvaged Audio:
1. Fulfill your own need: Kirby started his company because he couldn’t find a speaker that fit his style and budget. If you have a need that isn’t being met by the market, you might be able to fill that gap.
2. Test the waters: Kirby didn’t know if there was demand for his product, so he tested it by building and selling a single speaker. This allowed him to see if there was a market for his product without investing a lot of time or money.
3. Reinvest profits: Kirby used the profits from his sales to buy parts for more speakers and upgrade his tools. He never had to borrow money or go into debt, which allowed him to grow his business at his own pace.
4. Start small: Kirby was able to grow his business while working a full-time job because he started small and built his company over time. This might not work for everyone, but it’s a good strategy if you’re starting a business on the side.
5. Learn from failure: Kirby failed a lot early on, but he was able to do it in a safe and low-stakes environment. This allowed him to learn from his mistakes and improve his product over time.
If you’re interested in starting a small business, whether it’s building speakers or something else, Kirby’s story is a great example of how you can do it. By fulfilling your own need, testing the waters, reinvesting profits, starting small, and learning from failure, you can build a successful business that you’re proud of.