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Friday, Mar 29, 2024

Matthew Smith

Matthew Smith, 30 Co-founder, chief executive Nevolution Calabasas Software development firm that specializes in e-commerce and custom software for distributing apps, games,programs, media content and virtual currencies on desktop computers, netbooks and tablets. Founded: November 2009 Employees: 5 Financials: Projected $1 million revenue this year What led you to start your own company? I was previously an entrepreneur before going back to college in my mid-20s. Upon graduating in 2009, in the midst of a recession, jobs were scarce. I thought “Heck, I should just start another company up, seeing as there are no better opportunities in the job market.” Where did you get the financing? We initially bootstrapped until we had a viable product and business model. When we reached the “going to market” inflection point, we reached out to family first, then friends, then acquaintances. What were the biggest challenges? When we began to license our technology, we began to work with large multi-national corporations. At first we were excited, but quickly ran ourselves ragged by trying to meet their demands. What was the most important lesson you learned? Patience and strategizing. As a startup, you’re led to believe that every play has to result in a home run. How many hours a day do you work? Typically 10 in a 24-hour period. This might be broken up into productive chunks, or ground out in a long haul session. How do you handle yourself around older employees, colleagues, investors and clients? By realizing that older professionals have acquired valuable experience, insight, and perspective that I may have not. On the flipside, this does not lessen the validity of my judgment, input and decision making. What is the biggest advantage of being young? Capacity for work, punishment and recovery. What is the biggest disadvantage? When you’re young and not fully established, resources – aside from time – are harder to come by. You typically have a less mature network and net worth than older, more established individuals. Do you have plans for another company? I have some ideas, but nothing actionable. That being said, I’m extremely interested in the wearable technologies market. What advice would you give to other Millennials who may want to start their own business? Be extremely thorough in your planning and validation process. Be agile and responsive. Write an extremely insightful business plan and then shelve it. Hit the ground running, but be prepared and willing to course correct as you go. – Mark Madler

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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