A Visit with an A Visit with an EntrepreneurEntrepreneurClass reportClass report

Direct Professor: Professor Direct Professor: Professor ChenChen

Student: Ting Ting LinStudent: Ting Ting Lin

School’s Number:M997020School’s Number:M997020

IntroductionsIntroductions

It’s a shoes manufactureBuild in 1994Location in 安南 area in TainanIt’s a underground factoryThe brand name is DjBoss name is Mr.QiuI cost about 1.5hr to interviewed boss

A:Would you tell me about A:Would you tell me about yourself before you yourself before you started your venture?started your venture?

Q1:Q1:Who else did you know while Who else did you know while you were growing up who had you were growing up who had started or owned a business, started or owned a business, and how did they influence you?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:Q2:When, under what When, under what circumstances, and from whom circumstances, and from whom did you become interested in did you become interested in entrepreneurship and learn some entrepreneurship and learn some of the critical lessons?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 B:Describe how you decide to create a job decide to create a job instead of take a job by instead of take a job by starting your venturestarting your venture

Q1:How did you spot the Q1:How did you spot the opportunity ?How did it opportunity ?How did it surface? surface?

My company build in June,1994 ,and it was the time that Taiwan is in economical development period.

Q2:What were your goals?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 Q3:How did you evaluate the opportunity in terms of the opportunity in terms of the critical elements for success? critical elements for success? The competition? The market?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 Q4:How much time did it take from conceptions to take from conceptions to the first day of business? the first day of business? How many hours a day did How many hours a day did you spend working on it? you spend working on it? About half year, I worked almost 14 hours a day.

Q5:How much capital did it take?Q5:How much capital did it take? How long did it take to reach a How long did it take to reach a positivepositive cash flow and break-even sales cash flow and break-even sales volume? volume? If you don’t have enough money at If you don’t have enough money at the time, what were some ways in the time, what were some ways in which you bootstrapped the which you bootstrapped the venture(bartering, borrowing, and venture(bartering, borrowing, and the like).Tell me about the the like).Tell me about the pressures and crisis during that pressures and crisis during that early survival period. 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 Q6:Did you face any problems?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 Q7:What was your family situation at that time?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 Q8:What did you perceive to be the strengths of your to be the strengths of your venture? Weakness?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 Q9:What was your triumphant moment?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, Q10:Do you spent more time, the same amount of time, or the same amount of time, or less time with your business less time with your business now than in early years?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 Q11:Do you feel more managerial and less managerial and less entrepreneurial now?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 Q12:In terms of future , do you plan to harvest? To you plan to harvest? To maintain? To expand?maintain? To expand?

I want to maintain.

Q13:In your ideal world, Q13:In your ideal world, how many days a week how many days a week would you want to work?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? Q14:Do you plan to retire? Would you explain.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.

ConcludingConcluding

Q1:What you consider you Q1:What you consider you most valuable asset-the most valuable asset-the thing that enabled you to thing that enabled you to make it?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 Q1:If you had it to do over again, would you do it again, would you do it again, in the same way?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 Q2:As you look back, what do you feel are the most critical concepts, feel are the most critical concepts, skills ,attitudes, and know-how skills ,attitudes, and know-how you need it to get your company you need it to get your company started and grown where it is started and grown where it is today?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 listeningThanks for listening