Week 9 Entrepreneur Interview


This week we talked about how it is important to find the right people to work with. People who are nice are also most likely to be the most ethical. If that is the company that you want to have then you have to hire people who have similar ideas as you do. They do not have to be the same because you need variety, but if they could potentially harm the business and or disrespect customers, then it could be a problem. Your customers need to be able to trust you in some way. 


We also talked about the entrepreneur interviews that we have had or are going to have. I was very fortunate to meet with a former BYUI grad who is an entrepreneur at an off-road expo that I attended over the weekend. Luckily, I already knew he was going to be there, and I was able to prepare a few questions. I really liked that he was open about his beginning and the struggles and successes he had. He recommended that I read the book "Profit First". He also told me about the amount of money he had to take out to start the business and the fact that it did not become profitable for some time. This is because he kept investing any money he made into a better product and design. This is what overall helped him turn a simple product into something that actually stood out among its competitors. His name is Dustin Carr and he is the owner of EZ FLATES. Basically, all they have done is modify compressors and air hoses to become a little bit easier to use. They make money off of the product because they buy in bulk from China. They spoke with someone in China to design a new product for them. The new product was a small computer with a solenoid that converted to pressure. This way, when they connect a hose four ways to all four tires, the digital screen displays the exact amount of air pressure in each tire. With that information, you can fill up all the tires at the same time and have them at the same PSI. Unfortunately, their Idea was copied by their manufacturer in China. So now they are looking to do more innovation to improve their product.


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