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A Visit with an Entrepreneur Class report. Direct Professor: Professor Chen Student: Ting Ting Lin School’s Number:M997020. Introductions. It’s a shoes manufacture Build in 1994 Location in 安南 area in Tainan It’s a underground factory The brand name is Dj Boss name is Mr.Qiu
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A Visit with an EntrepreneurClass report Direct Professor: Professor Chen Student: Ting Ting Lin School’s Number:M997020
Introductions • It’s a shoes manufacture • Build in 1994 • Location in 安南area in Tainan • It’s a underground factory • The brand name is Dj • Boss name is Mr.Qiu • I cost about 1.5hr to interviewed boss
A:Would you tell me about yourself before you started your venture?
Q1:Who else did you know while you were growing up who had started or owned a business, and how did they influence you? • My brothers were all doing shoes manufacture. They earn a lot in that business, so encouraged me to create my business and most of them still in their positions.
Q2:When, under what circumstances, and from whom did you become interested in entrepreneurship and learn some of the critical lessons? • When I was a master worker, I already had two girls, when the birth of third baby , I consider to make more money.
B:Describe how you decide to create a job instead of take a job by starting your venture
Q1:How did you spot the opportunity ?How did it surface? • My company build in June,1994 ,and it was the time that Taiwan is in economical development period.
Q2:What were your goals? • I just want earn money and for me is everything because I want to pay back my loan.
Q3:How did you evaluate the opportunity in terms of the critical elements for success? The competition? The market? • My successful key I think is conscientious, • In that time we have competitions, but my strategy is to use small profit quick return, and its worked. • When I was a master worker ,I already have some relations with others who also engaged in shoes business and these people is my market.
Q4:How much time did it take from conceptions to the first day of business? How many hours a day did you spend working on it? • About half year, I worked almost 14 hours a day.
Q5:How much capital did it take? How long did it take to reach a positive cash flow and break-even sales volume? If you don’t have enough money at the time, what were some ways in which you bootstrapped the venture(bartering, borrowing, and the like).Tell me about the pressures and crisis during that early survival period.
About 150.000,fortunately,I earned money in the first year. • Crisis was that in one times we don’t have enough money ,in spit of we accept check but all post –dated check, so our cash is not enough to pay our supplies ,in that situations we use to solve our problems by discount on ckeck. • When we don’t have enough work for master worker ,I will let them to go other companies to keep on their productivity.
Q6:Did you face any problems? • Yes ,some of my clients bankrupt ,they should pay me for 300.000.but in the end they just run away and I can’t do anything. And fortunate it didn’t effect my business operation.
Q7:What was your family situation at that time? • I had wife, two girls and a baby boy, one girl is study in elementary school and the other is in kindergarten, and my wife is my assistant.
Q8:What did you perceive to be the strengths of your venture? Weakness? • I was a master worker, so I know a lot about produce shoes and three of my brothers all do this business, they give me some suggestion I think it’s my advantages. • My weakness was it’s my first time to be a boss, and I really didn’t know if it will succeed.
Q9:What was your triumphant moment? • When I was a worker, I saw my boss drove BMW, and now I also had BMW528,In Taiwan it only had 100 cars
Q10:Do you spent more time, the same amount of time, or less time with your business now than in early years? • No, in the beginning I worked for 14 hours a day, and now I only work for 8 hours .
Q11:Do you feel more managerial and less entrepreneurial now? • Of course, in start I have to do a lot work by myself and now I have employee to help me.
Q12:In terms of future , do you plan to harvest? To maintain? To expand? • I want to maintain.
Q13:In your ideal world, how many days a week would you want to work? • I would like to work for six days a week, because it’s my habit for a long time and I don’t have any plan in holiday.
Q14:Do you plan to retire? Would you explain. • I didn’t plan it. because my son is still a students. And it’s too early for me to talk about retire, maybe more ten years.
Q1:What you consider you most valuable asset-the thing that enabled you to make it? • My wife is my treasure., without her I won’t succeed She cook for me and help me to deal with company affairs ,educated our children . • I want to buy another house for my son and buy another BMW for my wife ,because she still drive Honda cars.
Q1:If you had it to do over again, would you do it again, in the same way? • If I have a chance I will do it again, because I earn money now.
Q2:As you look back, what do you feel are the most critical concepts, skills ,attitudes, and know-how you need it to get your company started and grown where it is today? • I must know a lot in my start business model, what style shoes will popular, where is the market ,price in market, competitors way to sold shoes, how should I do to earn the market. I think conscientious attitude is very important in doing anything. And I still doing this model.
