Summary:
Corry Banks launched Modbap Modular, a boutique electronic music equipment company, in just 90 days.
The company focuses on innovative instruments tailored for DJs and beatmakers.
Corry's inspiration stemmed from his own experiences as a beatmaker.
He funded his startup using a severance package after leaving his IT job.
Corry advises aspiring entrepreneurs to start with their vision and passion instead of waiting for perfection.
In this ongoing series, we are sharing advice, tips, and insights from real entrepreneurs who are out there doing business battle on a daily basis.
Meet Corry Banks: Founder of Modbap Modular, a Black-owned boutique manufacturer of electronic musical equipment in Southern California. Modbap Modular focuses on crafting innovative instruments for DJs and beatmakers, expanding the boundaries of beat-making composition.
Launch Timeline: Launched on 10/10/2020, Corry spent a year developing his initial product, overcoming pandemic-related delays. As the President of Modbap Modular, he has embraced his role as a product designer.
Inspiration Behind Modbap: Corry, a passionate beatmaker, wanted to create equipment that filled a gap he noticed in the marketplace. His “aha moment” came when he realized the need for more compact devices suitable for his Eurorack performance case. He was inspired to turn his ideas into reality after posting about it on Instagram.
Launch Day: The day of his product launch was exhilarating. Corry announced preorders during his BeatPPL Podcast, which led to an overwhelming demand, requiring him to revise his initial purchase order multiple times.
Funding Journey: Corry's unique funding experience began when he was offered a severance package after declining a job relocation. He decided to invest that severance into his business, dedicating 90 days to planning his brand and product.
Advice for Entrepreneurs: Corry emphasizes that aspiring business owners often overprepare and become stagnant. He encourages them to start with their vision and passion and not worry about having everything perfect from the outset.
Inspirational Quote: The African proverb, "How do you eat an elephant in your path? One bite at a time," motivates Corry by reminding him to tackle challenges gradually.
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