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025: Matthew Gallagher | Creating and Supporting A Watch Lover Community and Giving Back Regardless of ProfitabilityHide Details41min 14s
41min 14sPublished Oct 3, 2022 at 11:00am
Matthew Gallagher is the founder and CEO of the world’s largest watch club, Watch Gang, a community of watch-lovers that has grown to over 20,000 in under two years. Gallagher has built the company from the ground up reaching revenues of over $16 million in 16 months. Before that, Gallagher spent his time as a software engineer working for clients such as NBC, Nike, and, Johnson & Johnson. He also built an LA-based advertising agency, which grew to over $10 million in sales.
[07:43 - 14:32] How to Scale a Watch Business: Advice from the Founder of a 30,000 Subscriber Ecosystem
- Matthew shares t the stress of building a business while driving it down the highway.
- how he would pump the brakes and go slower if he were to do it again.
- he built a loyal customer base by giving away watches and supporting them.
[14:32 - 21:35] Matthew shares How he was able to give Six Rolexes to Six Customers with their first initials
- He talks about one moment when he was live on camera doing a Rolex giveaway
- Matthew is supposed to give only 1 Rolex to a single winner drawn with an initial of “ND”
- However, there were six people that shared the same initials
- Not wanting other customers to be disappointed he decided to give all 6 Rolex watches.
- How philanthropy is something that is important to the author because of their background, and how they try to help others in similar situations.
[21:36 - 28:10] Charitable Mindset Inspires Business Leader to Scale
- When Matthew started making some money, he would start with little things like filling up parking meters to help others.
- He saw his dad doing this too and it resonated with him.
- He tries to partner with different charities and teach his kids to give.
- He went to Houston after Hurricane Harvey and helped clean up people's flooded homes.
- After that experience, he was more motivated to scale his business.
[28:10 - 34:50] Matthew Story of Giving: How $100 Gave a Homeless Man Hope
- Grails for Good is a charitable sweepstake where Omega's Rolex watches are donated to a chosen charity.
- Grails for Good has raised $10,000 for My Friend's Place in the past.
- Matthew shares his story of giving $100 to two delivery guys last week and how they responded emotionally. One cried and the other was grateful.
[43:02 - 1:04:41] Closing Segment
- Reach out to Matthew Gallagher
- See links below
- Final words
“Most businesses do it because it's a write-off on their taxes. They get to discount their profit by giving, and then it's like a win-win. We give every year regardless of profitability” - Matthew Gallagher
Connect with Matthew Gallagher through their Instagram accounts
IG handles: @watchgang, @mattomic
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