On the surface, iCracked looks like a $25.2m a year smartphone (and tablet) repair company. But it ain’t.
I mean, yeah, iCracked did do $25.2m in revenue last year. But not from repairing phones. In fact, they don’t make a cent from repairs.
If you haven’t heard of iCracked, they’re an on demand device repair service, YC graduate, and one of the fastest-growing startups in Silicon Valley. Oh yeah – and their founder is speaking at Hustle Con.
In this infographic, we explain exactly how AJ Forsythe, the 26 year founder of iCracked, grew his company to $25 million in revenue by selling iPhone parts.
At Hustle Con, AJ taught attendees how to turn small, seemingly unscalable services and products into huge, successful business models with millions in revenue. Wanna see his presentation? Check it out.
Humble beginnings – On the outside, starting a company looks like so much fun, but AJ was just scraping by for the first few years. Even though he was working 80+ hour weeks, iCracked only did $250,000 the first two years so he was most likely paying himself next to nothing.
Patience – iCracked didn’t start scaling their business for 2 years. They’re still not even close to being at scale. Reading TechCrunch makes growth look so fast and easy. It ain’t. It takes time.
Getting into YC without being technical – I was pleasantly surprised to read that AJ and Anthony, neither of whom know how to code, were accepted into YC without having a technical person on the team. They hired their first engineer after getting in.
Infrastructure – With the right infrastructure, anything can scale. My biggest takeaway with iCracked is the importance of being an architect, not just a do-er. Instead of going after the quick but small-time sales, iCracked spent the time to build a scalable and repeatable process. Now, instead of fixing a handful of phones a week, they built a huge network of iTechs and drive so much traffic that they’re able to earn massive amounts of revenue from selling parts.
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