Entrepreneur Interview Essay Example

Entrepreneur Interview Essay Example Entrepreneur Interview Essay Entrepreneur Interview Essay The individual I chose to interview is the proprietor of the company at my current topographic point of work. Larry Godwin is the proprietor of Godwin Company. Inc. which is a forklift and golf auto gross revenues. and service company. Larry worked on his household farm turning up in Arkansas after go forthing school in the 4th class and so moved to Indianapolis when he was 18 old ages old and began working for a fan company. He got an chance for an apprenticeship place at a tool and decease company making chiefly forklift fixs. After that he went to work for Westinghouse. reconstructing electrical equipment. making machine work. and keeping their forklifts. He so decided to work for Kidney-Wood. a tow motor distributer. where he was a route technician for one twelvemonth. he was so promoted to Service Manager. After working in that place for 10 old ages. he saved $ 4. 000. 00 by working overtime on eventide and weekends so he could get down his ain concern. that concern is now a pro fitable company. I think it’s of import to indicate out that he did this with merely a 4th class degree instruction. He is a really determined individual and learned everything he knows by detecting and taking in everything he learned at his old topographic points of employment. Larry foremost opened for concern at 2222 East tenth Street in 1969 serving industrial sweepers and scrubbers for infirmaries and mills. every bit good as. serving forklift trucks. In 1971 he moved his location to 846 North Hamilton and from at that place in 1974 he made his concluding move to 1175 West 16th Street. At this current location the company gross revenues and services forklifts and golf autos. The company besides owns 1151. 1201. 1205. and 1207 West 16th Street. which they lease these edifice to other companies who use it for storage or restaurant infinite. When he foremost started the concern had a net worth of $ 4. 000. 00 and is now a multi-million dollar company. Larry started the concern with the fact in head that if he worked for person else for the remainder of his life. he would merely do peanuts. He knew he was good at what he did and he told people so. He would state his clients. I’m the best forklift machinist in the state. And with that attitude he would derive the clients concern and regard. He had basic accounting cognition and knew the every department’s actions had to be accounted for in the books. He gained a batch of his cognition by paying close attending when he worked for others in the yesteryear. He knew that the concern had to either grow or travel rearward and it took about five old ages to acquire a good hard currency flow. He took out $ 100. 000. 00 loan from the bank to assist turn the concern and paid that loan off every bit shortly as possible. It’s the lone loan the company has of all time had. You have to hold a good apprehension of the fact that you can’t turn so fast that you can’t pay your creditors and don’t go out on a limb by buying excessively much stock in the beginning and non be able to sell it fast plenty in order to pay your measures. Thingss didn’t truly smooth out until approximately ten old ages in. He suggest distributing your portfolio out so that you won’t los everything if you make one hapless pick. He besides suggest get downing with larning everything possible about something you like and inquire yourself if you can do adequate money in the beginning to raise the capital of the concern because no bank will loan you money if you do non hold capital. The biggest advise Larry gave me during the interview was you have to be honest. loyal. have unity in the concern and be able to manage or see that every ailment is handled in a timely and appropriate manner. You have to cognize that the money that your concern makes corsets in the concern. If you start taking money out of the concern history. so you are losing your net income. As the proprietor of the company you get a payroll check and that is what you use to pay your personal measures. non the company’s money. I enjoyed acquiring to cognize the proprietor of the company I work for and how the concern was started. I was really impressed with Larry’s finding and passion he has for his concern. He is an inspiration to any one wanting to get down a concern of at that place ain. With merely a 4th class instruction he was determined and observant plenty to larn from others and construct a really successful concern. I’m proud to work for a company that is built on passion. honestness. and unity.