Chapter 1: The Beginning of My Entrepreneurial Journey

On July 1, 1997, I was thrilled to embark on a new venture as I purchased Photo Etch Company in Fort Worth, Texas. At that time, the business boasted 100 employees and had been operational for nearly three decades. Specializing in cockpit panels for the aerospace sector, the company had recently ventured into the simulator market, which appeared to hold significant promise for future growth.

However, my initial expectations quickly shifted. Despite my educational background and years of experience in manufacturing and technology—encompassing roles in engineering, warranty returns, production quality control, service, billing, inside sales customer support, and technical sales—I discovered that running my own company was far more complex than anticipated.

The awakening to reality was intense. In the early years, I felt compelled to oversee every aspect of the business, believing I needed to address every issue myself. Some of the hurdles I faced included:

• Excessive payroll expenses due to an overstaffed team
• Scrutiny of bank covenants
• Government threats to shut down operations
• A key client in Fort Wayne, Indiana, considering terminating our contract
• Employee theft
• A sales representative refusing to travel during work hours
• A lawsuit from a sales rep I terminated for poor performance
• A mischievous inventory clerk feigning injury to blackmail the company
• Insufficient manufacturing expertise leading to quality issues
• Frequent hiring and firing of production managers
• Establishing effective manufacturing quality processes
• Adopting Lean Manufacturing principles
• Relocating from an outdated downtown facility to a more efficient space
• Learning to scale the business effectively

Over time, I learned to recruit better talent and delegate responsibilities. By holding team members accountable, I no longer felt the need to make every decision, which ultimately facilitated our growth. We increased our revenue from $5.5 million to nearly $15 million.

This brief overview of acquiring and managing a business might seem overwhelming, but witnessing the personal and professional development of my employees, the trust built within the organization, and the overall growth in the aerospace sector made every challenge worthwhile.

What are your thoughts on the journey of entrepreneurship?

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