2024 Entrepreneurship Month Spotlight: Matt Orvick – A Journey from Corporate Life to Business Ownership

Image caption: Matt Orvick, owner of Plato’s Closet Coralville, Plato’s Closet Cedar Rapids, and Once Upon a Child Coralville

For many aspiring entrepreneurs, the journey to starting a business is filled with soul-searching, challenges, and moments of self-discovery. Matt Orvick, owner of Plato’s Closet Coralville, Plato’s Closet Cedar Rapids, and Once Upon a Child Coralville, is a perfect example of this path. With 12 years of entrepreneurial experience, Matt has learned what it takes to succeed as a business owner, not just in terms of profits, but in fostering a positive environment for employees and customers alike. In this Entrepreneurship Month spotlight, we learn more about Matt’s journey, motivations, challenges, and his advice for future business owners.

Early Beginnings: A Natural Entrepreneur

Matt’s entrepreneurial instincts were evident long before he ventured into business ownership. In elementary school, while other kids were playing traditional games, Matt was already acting as the CEO of his imaginary company. "I always wanted to be in charge," he recalls, "and I always planned on leading a company." His desire for leadership only grew stronger as he entered the corporate world, but Matt soon realized that climbing the corporate ladder wasn't the right fit for him. "I’m not political enough, and I dislike watching higher-ups making bad decisions," he shares. After some introspection, Matt concluded that he would have to forge his own path and build something from the ground up.

Finding the Right Idea

One of the biggest hurdles Matt faced when starting his business was deciding what business to pursue. "The idea. What do you do? Finding what to do and how to make money doing it," he reflects. After much consideration, he found the perfect fit in the resale business model. He opened his first Plato’s Closet location in Coralville, followed by a second in Cedar Rapids and Once Upon a Child in Coralville. The concept—offering quality, gently used clothing and goods for kids—resonated with his desire to offer value to his community while building a successful business.

Image caption: Items available at Matt's store, Once Upon A Child

The Importance of Being in Control

When asked about his favorite aspect of being a business owner, Matt mentions two key elements: control and growth. The first, unsurprisingly, is the autonomy to make his own decisions. “Being in control was something I always thought I’d like, and it turns out I do,” Matt says. However, he also highlights an aspect of entrepreneurship that surprised him—the opportunity to help employees grow. "We hire mostly young people, college and high school age, and watching them develop real-life skills like responsibility, customer service, and management has been incredibly rewarding," he explains.

The Challenges of Ownership

Like any business owner, Matt has faced his fair share of challenges. “On the easy days, you’re doing what you want to do—it's all yours,” he notes. "But on the hard days, you realize there’s no one else to blame. You have to get the work done." The emotional rollercoaster of entrepreneurship is real, but it's something Matt embraces. However, he believes the hardest challenge of business ownership isn't necessarily the workload—it's dealing with the employees and customers. "The hardest part of running a business is working with people—both employees and customers," he says.

Matt points out that employees will never care as much about the business as the owner does, and that’s okay. Identifying and nurturing talent is key. Additionally, working through interpersonal dynamics—such as handling angry customers or finding ways to keep clients coming back—is just as challenging. “Learning how to work with others, how to motivate, how to deal with difficult situations—it’s all part of running a successful business,” he explains.

Business Education: What Matt Wishes He Had Learned

Reflecting on his own education, Matt admits that while he didn’t formally learn about entrepreneurship in school, he did get an early introduction to business through topics like the Industrial Revolution, the rise of tech giants like Microsoft and Apple, and the economic lessons of the Robber Barons. However, if he could go back and choose what he wished he had learned, Matt points to two key areas: employee management and customer relations. “You need to know how to work with people—whether they’re your employees or customers,” he says. “And more focus on personal and business finance would have been helpful, too.”

The Role of Junior Achievement

Matt’s commitment to helping others develop their financial literacy and entrepreneurial skills extends beyond his businesses. He has been involved with Junior Achievement (JA) for over a decade, an organization that teaches young people about financial literacy, work readiness, and entrepreneurship. “I’ve overheard conversations among my employees where they’re struggling to manage their finances, like not knowing how they’ll pay rent or spending money on non-essential things,” he shares. “Teaching them the difference between wants and needs, and the importance of budgeting, is something I feel passionate about.”

For Matt, JA is crucial because it gives kids a foundation in financial education—something he believes is sorely lacking in the U.S. “Understanding how money works is incredibly important,” he says. “Junior Achievement helps kids grasp the basics of personal finance and entrepreneurship, which can be game-changers for their futures.”

Image caption: Matt Orvick, Owner of Plato's Closet

Advice for Aspiring Entrepreneurs

So, what advice does Matt have for anyone thinking about starting their own business? “You need to know what your goals are,” he advises. “Where do you see your business in 5 years? 10 years? Take some business classes, read books, and learn how business works. The experience and knowledge you gain are invaluable.”

Starting a business can be both exhilarating and daunting, but as Matt’s story proves, with passion, determination, and a willingness to learn from challenges, entrepreneurship can be an incredibly rewarding journey.

Final Thoughts

Matt Orvick’s entrepreneurial journey highlights the importance of self-awareness, perseverance, and the willingness to learn from both successes and failures. His advice resonates with anyone who has ever dreamed of running their own business—whether you’re still in the planning stages or already in the trenches. With a strong commitment to fostering growth in his employees and giving back to the community through Junior Achievement, Matt exemplifies the values of leadership and service that define successful entrepreneurship.

If you’re inspired by Matt’s story, take the time to explore the possibilities, invest in your education, and consider how you can make a difference through entrepreneurship. The path may not always be easy, but the rewards—both personal and professional—can be more than worth it.