Francis Farwell, founder of WinterSilks Inc., a Middleton, Wis., mail-order apparel company, planned to sell his business from the start. Based on that decision, he built the business accordingly. Instead of plowing all his earnings into growth, he made sure the company maintained a sizable free cash flow, making it more attractive to potential buyers. In 1990, Farwell sold out, pocketing several million dollars.
Am I an entrepreneur? Apparently so. I was during the time that I started and ran my business and then I stopped being an entrepreneur when I sold it. What does the word mean to me? It is someone who starts a small business and is willing to undertake the risks, both financial and emotional in d...(Full transcript available to logged in subscribers.).
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