Watch CBSN Live

How this entrepreneur moved from suds to sounds

(MoneyWatch) You can kiss your CD-clutter goodbye thanks to Matt Younkle, co-founder of Murfie. Murfie lets users buy, sell, trade and download CDs and does all the heavy lifting to transfer content to your computer. The small town company based in Madison, Wis., started in May 2011 and has over 6,000 members and an inventory of 225,000 discs. But before you grab those CDs out of the back of your closet and send them to Murfie, listen to what Matt has to say.

The Start Up Vitals graphic Murfie CBS

Rebecca Jarvis: What were you doing before you started your company?

Matt Younkle: I had just completed a "sabbatical" after selling my prior startup, TurboTap. TurboTap is a product I invented that pours draft beer three times faster with less waste than conventional beer taps. Beer plus music seemed like an excellent next move.

RJ: How long did it take to turn your idea into a business?

MY: We launched a closed, private beta version of the site in January 2011, and we began generating revenue within days of this launch.

RJ: What's your number one piece of advice to entrepreneurs?

MY: A startup is a marathon, not a sprint; everything will take longer (and cost more) than you think. It will be harder on you than you expect, and you'll have a lot of doubts. Yet with the support of colleagues and friends you'll be amazed what you can do, and innovative entrepreneurship is some of the most rewarding work out there if you stick with it. So much potential exists today to create things people will love, and it's a daily privilege to be a part of that.

RJ: If you could ask one person for advice, who would it be and what would you ask?

MY: It would be amazing if I could have lunch with Thomas Edison. He was at the nexus of music and technology during his time. I'd love to get his perspective on the evolution of the recording industry. The recording industry exists because of technology, and now technology is often viewed as the biggest threat to the industry. But nobody denies that these early technology pioneers opened up a whole new way for everyone to invest in a permanent piece of their musical culture. I hope to do that again with Murfie.

RJ: Are you hiring? How do you get hired by a start-up?

MY: Yes. Like most growing web startups, we're always looking for great software developers. Email if you're an awesome developer. We'd love to connect. You'll have a great chance of getting hired by a startup if you show up for an interview with a plan for making the company better and the skills and experience to execute that plan.

View CBS News In