Severance to Success: How One Man Turned Corporate Layoff into Modular Music Empire

Corry Banks, a former corporate IT employee, turned down a lucrative job offer that required relocation. Instead, he opted for a severance package and used it as seed money to launch his own music equipment company, Modbap Modular, just three months after receiving the news.

Today, Modbap Modular boasts an impressive global presence, with its products sold in over 40 music stores worldwide across North America, Europe, and Asia. The boutique manufacturer's success story is a testament to Banks' entrepreneurial spirit and innovative design.

In an exclusive interview with Entrepreneur magazine, Banks revealed how his journey began with the unexpected boon of severance. "I felt fine about it and immediately thought to invest in myself," he recalled. "I spent the next 90 days building Modbap Modular from scratch, focusing on designing my first product and refining my brand pitch."

Banks' vision was born out of a personal need - as a beatmaker specializing in boombap music, he struggled to find compact, performance-ready gear that met his creative requirements. That problem-solving moment was sparked when preparing for a live set and realizing the limitations of existing devices.

"I found myself wishing that a particular device could fit into my Eurorack performance case," Banks recalled. "That 'aha' moment transformed my initial sketches into a complete prototype." The launch announcement on his podcast-generated buzz, forcing the company to triple its orders just to keep up with demand.

As Modbap Modular's products gained traction, Banks seamlessly navigated his dual role as designer and leader, embracing every challenge with enthusiasm. "It was surreal seeing how people responded to our gear," he stated. "From there, we continued to innovate, constantly refining our design to meet the needs of beatmakers and DJs worldwide."

Today, Modbap Modular's innovative tools are a sought-after solution for music enthusiasts seeking high-performance equipment custom-designed for their unique needs.