Entrepreneur Interview Essay Megan Vissering Ivy Tech Community College
2 ENTREPRENEUR INTERVIEW ESSAY Abstract In an interview with entrepreneur, Thomas Wilson, I uncovered his story of building a business nearly 53 years ago. Mr. Wilson described the impact his youth had on his business ventures and the struggles he occurred on his way to success. Tom also shared many of the rewards entrepreneurship offers and the mindset needed to achieve greatness internally and externally. The interview processed the education and experience Mr. Wilson had and his childhood dreams. Many of the interview questions regarding his business venture led Tom to narrate the initial phases of his it all the way to todays operations. I found Mr. Wilsons words to be inspirational as well as motivating to not only myself but others looking to find job security in a business of his/her own. After analyzing many direct quotes and philosophies Tom shared, I concluded that creating a company has its fair share of struggles and as an entrepreneur, many sleepless nights, but in the end, the rewards of finding individualism and strength through ones organization is a much greater price.
3 ENTREPRENEUR INTERVIEW ESSAY I had the opportunity to interview Thomas Wilson, a family friend and a very successful entrepreneur in my community. Several of his companies continue to stand today and have had a large impact on the agriculture and industrial industries. Wilson Fertilizer operates in Brook, Indiana as a dominant fertilizer and seed distributer. Recently, Wilson Industrial and Wilson Transportation, companies also founded by Mr. Wilson, moved from Brook to Rensselaer, Indiana. During the interview, Mr. Wilson took a trip down memory lane to tell me more about his journey as an entrepreneur and gave me insight on his views of business. When the interview began, Tom extrapolated on his childhood; many of his teenage years were spent at his fathers trucking company where he would haul loads of rock to and from the stone quarry. Even before Tom was legal to drive, he took loads of livestock to the Chicago stockyards. Tom told me how his parents never just gave him money, he had to work for every dollar he made. He knew working was a part of life at a very young age. He continued to work for his father even after graduating from Brook High School. Tom said, My parents didnt give me a college education, but they gave me experience. Even though Tom may not have realized it at the time, the experience of learning to drive and fix his fathers trucks greatly impacted his future ventures. Before I moved into questions relating his young adult life, I was curious as to what Toms childhood dreams were. I anticipated between two answers: he wanted to be a superhero or he wanted to own his own company. I was shocked to learn Toms childhood dream was to one day own a really nice semi. Tom explained that his fathers trucks were not top of the line so when he had the chance to see all of the beautiful semis sitting at the stockyards, nothing more superseded his young desires. My questions led Tom to explain his motives of starting his own business and the opportunities he had along the way. I was shocked to learn so much about his past and the 4 ENTREPRENEUR INTERVIEW ESSAY struggles he faced and still faces today. The story unfolded when Tom explained that he began to see his dad paying more attention to his personal life away from the family than promoting the success of his business. Around the same time, Tom had back surgery: he was only 23 years old, and while recovering in his hospital bed, Tom knew he had to find a way to make money in order to support his mother. After he left the hospital, Tom went to see his brother Richard with ideas of starting a business together in the trucking industry. This industry seemed to be the obvious solution to their problems because they both knew the means of a trucking business after watching their father throughout their childhood. Within a few days, an idea turned into reality for these Wilson brothers. Richards barn was quickly turned into a maintenance garage and Richards wife was set up as the businesss bookkeeper. One major problem the two faced was having no equipment, a large factor in the success of the business. Tom described his life altering trip to Chatsworth, Illinois. He knew of an International dealership that had trucks suitable for the business. He found a truck that met his needs and after talking with the salesperson, the two agreed on a price. As the paperwork was being finalized, the salesman looked to Tom and asked how he planned to pay for the truck. Tom looked to the salesman and said, Havent got that far. What Tom hadnt told the salesman was that together he and his brother together only had roughly 70 dollars to their names, an amount nowhere near the purchase price of the truck. The salesman took a good look at him and said, Cmon, and together they went to the Chatsworth Bank to talk to the banker in charge of loans. After he described his business plans, the banker granted him a loan for a couple thousand dollars. Tom was walking out of the bank when the banker hollered, Wilson! He elaborated on the fear and the stomach clinch he felt assuming the banker had changed his mind on the loan. Tom said he walked back into the office, and the banker asked him how he planned to pay for the array of 5 ENTREPRENEUR INTERVIEW ESSAY licensing, permits and other start-up costs. Once again Tom replied, Havent got that far. The banker told Tom to sit down because if he was going to help Tom out, he was going to do it right. When the trip to Chatsworth was over, Tom came back to Brook with a large enough loan to start a real business. Tom and Richard bought two trucks to haul limestone, their first and primary product, and later were able to purchase two more trucks to haul steel. Wilson Brothers was becoming very successful, but Tom explained to me the problems that arose even with booming business. The company couldnt keep as busy as necessary in the summer and needed a way to keep employees busy. This problem spurred the decision to buy a strip of land in Brook right off of Highway 16. A bailing and grain system was built on this land and solved the problem to the trickling profits in the summer. Today, this exact piece of land houses Wilson Fertilizer. Expansion was the only option Tom saw; in my interview, he explained his belief that all entrepreneurs have a desire for more and more. He believes entrepreneurs never settle for what he/she has, and the idea to become bigger and better is just the way the body is wired. The need for fertilizer in the area became extremely high. At the time, most farmers didnt use fertilizer because they were afraid to spend the extra money without a guarantee that their yields would increase. Tom recalled persuading farmers into buying test product, and when farmers saw an increase of double in their yields, the idea of a fertilizer business grew. Tom and Richard opened several other fertilizer branches, reaching their goal of seven plants but later consolidated a few. Tom recalled a dream he had many years ago. In this dream, he saw his trucks hauling large quantities of potash. He contacted IMC, International Minerals Corporation, and persuaded the company to give him a contract for a large supply of potash. IMC gave Tom more than enough potash to haul. He recalled the difficult process to get all of it moved, but in the end, he always 6 ENTREPRENEUR INTERVIEW ESSAY found a buyer. Unfortunately, Richard died of a heart attack in his early forties leaving the responsibilities of the business solely to Tom. Much of what I know about the Wilson companies is the industrial side of business. I questioned Tom on how Wilson Industrial came about and his ability to find industrial products. Tom talked about how he knew agriculture had to coincide with industrial products. He explained that on a trip to Michigan, he stopped by the Ford plant for a tour of the facilities. Tom saw workers dipping car bumpers in phosphoric acid before they were sent for chrome plating and wondered where the excess phosphoric acid went. After talking to the plant manager, Tom learned the Ford factory dumped the phosphoric acid down the drain. The thought of polluting landfills didnt sit well with Tom so he asked to buy the left over acid when the plant was done with it. In time, Tom was buying phosphoric from 13 manufacturers and converting it into fertilizer as well as compacting ammonium sulfate for the same outcome. Today, Wilson Industrial buys, converts and sells industrial byproducts as well as virgin material. Once much of the business history was explained, I had the chance to ask Tom several questions on the challenges and rewards he has experienced in the 53 years he has been in business. Tom was quick to answer that money was the greatest challenge he faced when he was starting his business; he praised the Chatsworth Bank and the International salesman who helped him find start-up capital. Tom believes the only way to overcome the fears and challenges of business is to be persistent and never give up. Many times business people give up after one person says no, but when one is an entrepreneur, he/she has to persuade or find different opportunities so someone will say yes. Even today, Tom believes the hardest obstacle to overcome is finding qualified people for work. In his business, time and time again trucks sit for days because finding drivers with the necessary credentials is hard. Lawyers, Tom said, are the 7 ENTREPRENEUR INTERVIEW ESSAY greatest risk of being a business owner because someone always wants to sue the business and the business owner. No matter how ethical the company may act, lawyers will always find a way to find corruption. The mood lightened when I asked Tom about the most rewarding aspects of being a business owner. His reply was the feeling he gets knowing he has helped others and made an impact in someones life. He recalled writing into action that 10 percent of profits each year would be donated to charity. The companys donations to Mayos Clinic has helped many employees and their families seek immediate medical attention. Tom wants young people to know that success is purely found when one finds a true passion for something and turns that love into a business. He encourages all potential entrepreneurs to do something exciting with their lives so going to work doesnt actually feel like work. Being in a field driven by money is the wrong way to live life so by following a passion and putting effort into a business of ones choice will turn profits greater and greater each year. At the end of interview, Tom remembered a conversation he had at the beginning of his ventures with his bookkeeper, Judy, regarding profit expectations; he and Judy agreed that once the company had made a million dollars, the business would have truly conquered success. Tom smiled and made the comment that the company quickly reached the million dollar profit mark and in time since, has exceeded all of his expectations. My conversation with Mr. Wilson was nothing short of inspirational and encouraging. I walked out of his front door believing in myself more than I ever had before because I now know the possibilities in life are endless. I realized that money and knowledge do not have the power to sit in any ones way of achieving greatness because determination and hard work will carry anyone to finding success. Even though I have known Tom Wilson my whole life, I was astonished by his humble personality and desire to help others. I can only hope when I find 8 ENTREPRENEUR INTERVIEW ESSAY success in my life, I will act in a manner similar to Tom. In 53 years from now, I want to have the ability to say that I made an impact in my community and the lives of others.
9 ENTREPRENEUR INTERVIEW ESSAY Works Cited Angeli, E., Wagner, J., Lawrick, E., Moore, K., Anderson, M., Soderlund, L., & Brizee, A. (2010, May 5). General format. Retrieved from http://owl.english.purdue.edu/owl/resource/560/01/