Business Spotlight: Runway Audio
This post was originally published on February 10th, 2017
Runway Audio opened in 2016 by Austin Woodruff and Tyler Traeger. They create custom high-end guitar cables and pedal board set-ups.
Austin Woodruff is a junior music business student from Denver Colorado. Tyler Traegar is a sophomore songwriting major from Denver, Colorado. On the quest for the “perfect” tone for their music, they began Runway audio.
WHAT DOES YOUR BUSINESS DO?
We do boutique and custom instrument leads as well as pedal board set-ups! Basically, we make high-end guitar cables. Our cables are made from the best of the best parts and materials. Also, thanks to our low capacitance actually sound better and allow more tone through then other cables on the market.
HOW LONG HAVE YOU BEEN WORKING ON THIS BUSINESS?
The idea came in November 2015 and Runway Audio opened in May 2016.
DID YOU ALWAYS KNOW YOU WANTED TO START A BUSINESS? IF NOT, WHEN DID YOU REALIZE IT?
Austin: I have always had somewhat of an entrepreneurial spirit; I just was never sure what kind of business I wanted to start.
Tyler: Honestly, the thought didn’t even cross my mind till Austin came to me and said he wanted too. He told me his vision for Runway Audio and I thought, yea this makes sense, let’s do it.
HOW HAS BELMONT HELPED YOU TO MAKE THIS BUSINESS BECOME A REALITY?
Austin: Honestly, I do not think that we could have gotten Runway Audio off the ground (pun intended) without Belmont from the classroom experience and curriculum, all the way to the connections that we were able to make. The faculty is very supportive of student entrepreneurs. Our ability to make connections with other students has also been invaluable.
Tyler: Belmont has helped me in really 3 ways: I’ve learned specific information I needed to know in class, I’ve learned in general life lessons such as you have to go out and work for something if you want it, and I’ve enjoyed the support of the other students and faculty.
DID YOU HAVE ANY CRAZY BUSINESS IDEAS AS A KID?
Austin: I tried one summer to do a neighborhood car wash, but I couldn’t even drive yet so who would trust me with their cars?
Tyler: Definitely. Young Tyler wanted to open a music school on the moon because clearly practicing your instrument would be much more fun if you could bounce around while doing so.
WHO IS YOUR BIGGEST INSPIRATION IN BUSINESS?
Austin: I have too many to count. I really admire the CEO of Creation Music Company, they are a small pedal board and amp company in Oklahoma. His company has been hit with some serious roadblocks recently and he did not quit doing what needed to be done. Now, I think his company is better for it. I hope that I could have that kind of vision within a company.
Tyler: Honestly for me it’s the many small business owners I’ve met or heard stories about. I just admire how they care for their customers and fight so directly for their dreams.
WHAT BUSINESS OR PRODUCT DO YOU WISH HAD BEEN YOUR IDEA?
Austin: I wish that PayPal had been my idea. It was a product that fulfilled a simple problem and now is on almost every shopping site on the Internet.
Tyler: I heard the guy who invented the credit card reader gets money every time one is swiped so that for sure.
ADVICE FOR OTHER STUDENT ENTREPRENEURS?
Austin: My advice would be to just do it! This is a great time in your life to take the risk of starting a business. You don’t have a 9-5 job yet, and you income needs are a lot lower than they are going to be in the near future. What are you waiting for?
Tyler: Just do it, you’ll never have anything if you never start.