Very Short Interview, Part 2

I couldn't remember what I originally talked about in that first interview all those months ago, so I went back to my blogpost to get a refresher (if you'd like to reference it as well, click here). Looking back, using the information I've gained both from this class and from my managerial accounting class over the semester, I think Doug gave me some really solid advice. He even provided easy to follow examples. Knowing even more how difficult it can be to start your own business, it just gives me that much more respect for Doug.

I wasn't able to record the interview because Doug lives in Fort Lauderdale, so we conducted our conversation via e-mail. First, I asked him if anything he told me in that first interview had changed. It didn't. If anything, he even more strongly emphasized smart financial planning. Then, since he's had so many different businesses, I asked him which have been the most rewarding and difficult to get off the ground. I figured he would tell me his first business - a donut store he owned for five years - since that was the first time he ever tried, but in fact he told me that since he started it so young, and was still really naive to the whole process, that it was actually one of the easier businesses he ever owned. He told me he almost lucked out in a way with the donut business. The hardest business for him was the stereo business, partly because he owned it the longest and had invested so much in it that seeing it go had been really hard on him. Plus, as he was more of an adult when he began it, he had more responsibilities and awareness of the business world. The last question I asked him was centered around the fact that he's never worked for anyone else a day in his life - I asked him what the best and worst part of being in charge of your own business was. He told me the best part about working for himself was being able to sleep in (lol) and that the worst part was that he couldn't just up and quit his job if things weren't going the way he wanted to. All the responsibility was on himself, 24/7. But he also told me - more seriously - that it made his success all the more rewarding because he knew how hard he worked to achieve it.

I definitely feel more comfortable talking about entrepreneurship now just because I have a little bit more knowledge on the subject. It's never easy to talk about things you know nothing about. Doug didn't mention to me that I seemed any more comfortable on the subject, maybe because the interview was done over e-mail, but I felt more comfortable and at ease.

All in all this was one of my more favorite assignments, partly because it gave me a reason to keep in touch with an old family friend.