How many of us have founded a profitable $800k business by the time we’re 26? Not many, but Walter Hindman has, and he’s our guest on this episode of the Fortune’s Path podcast. The company Walter founded, Junkdrop Nashville, partners with non-profits to provide no cost household items like clothes, construction materials, furniture, and appliances to people in need. Junkdrop connects those with too much with those with not enough. Learn why Walter never wants to sell anything he collects, why ecologically senentive disposal is so important to his business, and what he loves most about being a leader. Ambitious, charming, and wise beyond his years, Walter makes a terrific guest on this episode of the Fortune’s Path podcast.
26 year old Walter Hindman tells Tom how he became CEO after losing his job during COVID when his offer was rescinded. Walter tells Tom about Junkdrop Nashville, his junk removal business that gives reusable material to charities. Walter explains why integrity is important to his differentiation. Walter does not give his donors a tax break, but he does show them where their reusable items end up and who they benefit. Walter talks about his dream of growing Junkdrop through franchises. Tom digs into the economics and what stands in the way of scale for Junkdrop. Walter talks about who he hires and how he finds them. He talks about how important having fun is to his business. Walter talks about having to fire people. Walter tells how important earned media like being on the Today show and being written up in the Tennessean has been to his growth. Walter talks about using Google ad words. Tom tells how he felt taken advantage of by another junk removal business. Walter tells about how 1-800-Got-Junk revolutionized the junk business with their simple value—point and it’s gone. Walter has taken that idea and added the charity angle so people can feel good about where the junk goes after it’s picked up. Tom talks about creating a junk removal as a subscription business. Walter talks about why he started his business and how he was able to pick who he’s competing against. He tells how he had no capital when he started and how he coordinated with a local charity and used his own pick-up. Walter talks about hoarder houses and how strange the work can get. Walter tells how obsessed he gets when he loses a bid. Tom compares competitive intelligence to a musician who gets inspiration from other musicians. Tom describes how he was inspired by his old boss who was generous with his time and would talk to anyone who had a business in health tech. Walter closes out by telling us what he wishes he knew when he started the business that he knows now.