Ahead of the MVMT Young entrepreneur and self-proclaimed growth hacker is raking in millions

 When Jake Kassan was 16 years old, his first startup peaked at about $15,000 in weekly profit.  He’d have to lose it all, drop out of college, fall $20,000 in debt and try a couple more times before he’d gain the knowledge and experience he needed to hit it big-time.  But with a perspective that marries the daring of youthful optimism with the calculation of seasoned success, Jake has finally found the formula for one young, successful businessman.  Pulling in more than $15 million in sales for 2016 alone, Jake’s current view from the top is earned, valued and, most of all, appreciated.
“I hate the idea that you don’t need to fail,” Jake said.  “Failure is only a loss if you don’t learn from it.”
While still in high school, his first business was a quick moneymaker born of a simple idea: T-shirts.  Jake recognized a market for graphic tees with a young vibe, so he purchased materials from China, doctored them up and turned a quick profit.
“I sold T-shirts out of a backpack on Third Street Promenade until I made enough money to start a website,” Jake recalled.  “I had no money, no marketing experience, but ecommerce was growing.  And viral was the ‘hot word.’”
Once his business went digital, Jake used videos and views as a form of guerilla marketing.  He cut a video that was about something “hot at the moment,” and 10 seconds in, he’d switch to a pitch about his business.  Now a common form of marketing for big business, Jake had created digital advertising out of views in the early days of YouTube.  One video reached 500,000 views, and Jake was shipping out 30 to 40 shirts a day.
“I didn’t understand how much money it was at the time,” Jake said.  “As that business eventually died down, I was looking for my next opportunity.”
After graduation, Jake enrolled in Santa Barbara Community College and decided to stick with his strengths, including a nuanced understanding of his age group.  Quickly, he recognized the growth in popularity of rave-like music festivals, such as the Electric Daisy Carnival, among his friends, as well as the demand for glow lights that grew along with them.
“I was sitting in this giant sports arena watching all these lights, and I saw an opportunity to sell to a specific demographic,” Jake recalled of the inspiration for his second business venture.
Returning to ecommerce, he began manufacturing his own lights and selling them online.  Because Jake understood his market, business grew quickly – so quickly, in fact, that he dropped out of college at age 19 to pursue what seemed like his big ticket.  Identifying his next steps, Jake opened a storefront in Northridge Mall and signed on for a three-month lease.  Within the first year, he made $185,000 in profit.
Though success was sweet, Jake was still a regular 19-year-old, and texts from his friends constantly reminded him of what he was missing.  The grind had swept him up into adulthood much sooner than he anticipated.  The problem was solved for him, however, when a competitor caught notice of Jake’s business model.
“They came up extremely fast and put me out of business,” Jake said.  “I had invested so much back into the company that, after making $500,000 in five years, I had nothing to show for it.”
The tables had turned, and Jake was now $20,000 in the hole, and much of the debt fell on his parents, leaving Jake to carry a whole lot of guilt.
“I was devastated about being a college dropout.  My parents weren’t well-off.  My dad’s business went under with the recession, and I put myself under a lot of a pressure to fix this,” Jake recalled.
Feeling a bit lost and definitely jaded, Jake took a break from entrepreneurship and turned to dependable work and hourly wages, working valet at a hotel in Santa Barbara.  He picked up graveyard shifts and worked every major holiday to earn back what he’d lost.
“I wanted to understand what it meant to be working,” Jake said.
But this time, Jake’s next opportunity found him.  A friend who also had been flirting with entrepreneurship, Kramer LaPlante, approached Jake and proposed a venture.  Their strengths complemented each other – they just needed a fail-safe product.
“We were both watch enthusiasts, but there wasn’t a brand out there we could afford,” Jake said.
They did their research and quickly found they could purchase quality materials – the same that made up Michael Kors products – directly.  They knew how to brand; they knew how to reach their market.  What was standing in their way?
Instead of placing product in retailers like Target or Tilly’s, Jake and Kramer were going to place their watches directly into the hands of their consumers; it was what they knew that their competitors didn’t.  And it allowed them to cut the shelf price in half.
“That was the start of it,” Jake said.
Now they just needed funding.  Thinking outside the box, Jake and Kramer turned to their network, launching a crowdfunding campaign on Indiegogo.com.  They raised $300,000, becoming the second highest crowdfunded fashion brand that year.  Just like that, MVMT Watches was born.
Focusing on affordability, MVMT manufactures high-quality, minimalist watches that complement both casual and formal attire.  Using a direct-to-consumer model and social media marketing strategies, they’ve generated organic growth, brand loyalty and consumer engagement.  With just the right business model, MVMT Watches is taking the industry by storm.
In the first year, MVMT saw $1 million in profit; now in its third year, the company has made more than $15 million in 2016 alone.  Today, MVMT is a worldwide brand, shipping to more than 100 countries.  And to protect his growth, Jake called on lessons from past ventures.
“We’re disrupting the typical business model in a [multibillion-dollar] industry,” said Jake, who is now 24 years old.  “So we stayed under the radar for a while and didn’t let our competitors know much about us, until we knew we were strong enough.”
And Jake is still learning – constantly looking for the next lesson and the next opportunity to test it.  More importantly, he’s passionate about sharing these lessons with his peers.
“Anyone can do this.  I dropped out of college, was in debt and was put out of business,” Jake said, “but I learned from my failures.  You may not immediately know what that lesson is, until you try again next time.  You have to be passionate about self-education.”
What has experience taught Jake?  Tradition isn’t the only way; it may not even be the best way.  Pay attention to new media and social networking platforms; never underestimate their use in the business world, especially if no one else has recognized that use yet.  Practice a little trial and error, and rely on your network to get your there.  Most importantly, work hard but not too hard.  Relish in your accomplishments and enjoy the moments.
“Too many people live from one goal to the next without actually being satisfied with what they’ve accomplished,” Jake said.  “Then you’re just constantly chasing, never actually living.”
For more information about MVMT Watches, please visit mvmtwatches.com. 

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