I decided to interview my friend Craig Parks for my entrepreneurship class. He is what they call a "serial entrepreneur" who has his hands in many businesses. He is a driven individual who enjoys when a business works. Here are some questions I asked him..
Commercial Audio Visual Company (California)
Wedding/Event rentals (Maui)
Used car business (Maui)
Food distribution (Australia)
Camping equipment manufacturer (Australia)
Motorcycle rental (Maui)
What is your current role in each business?
US companies: Founder and advisor for 15+ years
Australian companies: Mentor
Maui companies: More involved than others, but still just
a mentor.
Have you always been passionate about your business?
I am not passionate about any particular business, but
I'm passionate about business in general. I am passionate about making
something work.
How many hours a week would you work regularly?
I would work anywhere from 70-100+ hours a week. Every
living moment you are working on it or talking about it. You don't look at it
like a normal job.
What are your core values in running your business?
#1 Looking after employees
#2 Having a good product or service
#3 Making the customer happy
#4 Punctuality
Do you have a support network? If so, who?
No, I am the support network.
Was there a time when you felt like you were on the wrong
path? Describe.
I once had a telemarketing company and car alarm
business. The products weren't good so I wasn't satisfied in selling them. It
wasn’t an interesting job and the clientele was much different than say the
audio visual business.
What are the most effective emotions when dealing with
problems?
The least amount of emotion the better, only solving the
problem in front of you and finding the solution for it.
What are some moral values you consider important as an
entrepreneur?
Respecting people, doing a good job, and picking the
right people for the job or task.
Have you taken risks with a new product or business idea?
All the time. I enjoy the rush. I once expanded a
business too quickly and went broke. I learned from it though to help me be
successful in my future businesses.
Are you competitive by nature?
Yes, in some things. I was once more competitive than I
am now, but have calmed down a bit. I avoid competitive arguments with people.
How prepared are you to fail?
I'm fine with it because I am now better at avoiding
failure. I also haven't invested in too many businesses recently because it is
just too much work.
Tell me about a situation where you failed in one of your
businesses.
Audio business in New Zealand grew too fast therefore it
failed. We didn't understand that cash flow is different than profitability. I
have also failed with a model agency, real estate business, and gym. We failed
because the wrong people were hired for the positions and they didn't attack
with the same vigor I did.
By: Jessica Williams
By: Jessica Williams
I find it interesting how many businesses that Craig Parks has started, and then sold. Instead of becoming attached to the particular business, he takes his heart out of the equation, and is able to make calculated decisions on what is best for himself, and his role as an entrepreneur. It is almost like he is his own business, and the businesses themselves are separate entities. A unique approach to viewing Entrepreneurship.
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