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
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.
Concluding
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.
Thanks for listening