Will West: A $300 Million Man visits Snow
By: Skyler Hardman
Ephraim- Will West, co-founder and CEO of multi-million dollar company Control4, spoke to students and the community about entrepreneurship last Wednesday in the library.
“Every successful entrepreneur that I know has this characteristic,” said West “They are willing to stick with it when the rest of the world says they can’t do it.”
He went on to describe entrepreneurs as ranging from “bold” and “courageous” to “arrogant” and “naïve.”
The class to which he spoke is hosted by the business department and titled Entrepreneurship Seminars. Whether enrolled or not the class is open to everyone, students and citizens alike. It is held every Wednesday at 12:30p.m. in the auditorium in the Huntsman Library.
“The one thing that makes a business fail… is lack of money.” said West, who has raised more than $300 million in private capital to start his last three companies according to Control4.com.
West spent the majority of his presentation speaking on how to acquire capital to start a business.
“Management, management, management, a PowerPoint presentation, a financial model and a business plan are the seven most important things when it comes to getting money from venture capitalists.” said West, “The easier you can make it on the investor, the more likely you are to get money.”
Although he has raised a substantial amount of money to start his companies West said, “(I have been) turned down way more than embraced.” He also spoke of “a price to be paid,” referencing missed birthday parties and time away from his family.
“If things were really easy to do, everybody would do them.” Said West, “Money, expertise, an idea and a team (are the four components necessary for starting any business).”
“I was offended they didn’t ask sooner,” He jokingly told the Snowdrift when asked why he was willing to come to Snow. West went on to say, “Entrepreneurship is what it’s all about. I believe in it.”
Next week the Entrepreneurship Seminar will feature Jason Stowe, co-founder of Bajio Mexican Gill. Bajio currently has over 40 locations in 11 different states. The first location opened in 2002, since the company has changed ownership twice but Stowe is the President of Abundant Brands who currently owns the franchise. Balance = Success
By: Skyler Hardman
Snow College alumni Tom Boyer spoke to Snow’s entrepreneurship seminar class last Wednesday and emphasized the importance of balance in all that we do.
Boyer is from Coalville Utah and to this day operates the very ranch he was born on. He started his higher education at Snow College before receiving a Bachelors Degree in Agricultural Economics and Masters Degree in Agribusiness from Brigham Young University.
During his presentation Boyer reflected, with much gratitude, on his Snow College learning experience. Boyer shared with the group how important the friends he made at Snow are to him.
“When I first got here I would have crawled home if I could have,” said Boyer.
He then told the class about the guys who lived in the dorm across the hall from his. They built a powerful bond as they helped each other transition from home and parents to college and girls.
Boyer served an LDS mission between his first and second year at college. He made it clear that, to him, there aren’t many things more important than being right with God. Spirituality is one of the aspects of life he considers necessary for a proper balance.
Amidst the balancing act of life Boyer has not forgot about those friends who impacted him so drastically during his first year at Snow. Boyer has a reunion with the same group of guys annually. They have a 38 year streak rolling with no plans to stop.
Boyer’s resume makes it clear he values education. His speech let everyone know that life is much more than a couple of degrees.
“You have to do manual labor,” said Boyer. “There is nothing I hate much more than sheering sheep, but I do it. I know that it’s good for me.”
The physical demands of working on a ranch are something Boyer no longer needs to do monetarily but it is necessary for him to feel good about life. He emphasized the importance of doing a task that allows you to see a tangible difference when you are finished.
There is much more to maintaining a balanced life than working, remaining physically fit and being spiritual Boyer warned the audience.
“50 percent of you will end up divorced,” said Boyer. “Make sure you share with your spouse your goals and what you expect to achieve in life.”
Boyer blatantly explained to the class, if you desire to be an entrepreneur but your spouse isn’t willing to make the sacrifice something won’t work.
The audience as a whole responded very well to Boyer applauding him at the end of the 45 minute presentation.
This week the entrepreneurship speaker was Jeanette Bennett. Bennett and her husband founded Bennett Communications aspiring to work from home and put their BYU journalism degrees to work. The company’s flagship publication is Utah Valley Magazine. The entrepreneurship seminars are held every Wednesday at 12:30 in the Huntsman library auditorium.
Marketing Genius Visits Snow
By: Skyler Hardman
EPHRAIM- C. Parker Garlitz founded one of the first Internet Service Providers in Utah and since has started a handful of businesses finding immense success through online marketing. Garlitz spoke to Snow students last Wednesday.
Garlitz went from owning and operating an internet based toner supply company to, with his sister, co-founding Whole Foods, Inc. Whole Foods originally sold wheat grass kits and now carries hundreds of products and does over four million dollars of ecommerce sales each year.
“She’s on a crusade and I’m the marketing guy,” said Garlitz about his vegan sister.
Whole Foods targets the niche market of organic health foods. Garlitz was surprised by the interest in such foods pointing out that he doesn’t even consider putting their products to use.
After seeing a demand Garlitz and his sister built a product and a website. They used 100 dollars cash and a credit card to fund the business.
Ten years since their first sale Whole Foods now operates in a 10,000 square foot warehouse. Even though they grow by 20 percent each year and now have 28 employees there are some things that Garlitz won’t let anyone else do.
“I don’t turn the marketing over to anybody,” said Garlitz. “I have tried every advertising technique you can think of online… 50 of them work, 10 work well.”
Once marketing for Whole Foods became a “spare-time” sort of job Garlitz was successful in opening a consulting firm. His consulting firm led to a 100 million dollar company, Crexendo, offering him a job.
“No,” Garlitz first told Crexendo. “The third offer (from Crexendo) was something I felt I couldn’t refuse.”
Still with Crexendo Garlitz shared with Snow students his ideas on how to market any product online.
“Getting listed in search engines is unbelievably fundamental,” said Garlitz. “The number of links that go to your site determines your page rank with search engines.”
“Facebook and Twitter are worthless for advertising,” said Garlitz. “The only thing they are good for is the links that will boost your page rank.”
Along with tips for Snow students Garlitz shared his feelings about entrepreneurship.
“The best path to make a lot of money in America is to start a small business,” said Garlitz.
The class to which he spoke is hosted by the business department and is titled Entrepreneurship Seminars. Whether enrolled or not the class is open to everyone, students and the community alike. It is held every Wednesday at 12:30p.m. in the Huntsman Library Auditorium.
Next week the entrepreneurship speaker will be Tom Boyer. He operates Boyer Land and Livestock. In the early 1850’s William Boyer arrived in the Salt Lake Valley from England. As he was a coal miner and entrepreneur, Brigham Young sent him to Coalville to begin the development of coal mines. Generations later livestock was added to the family business according to Boyer Land and Livestock’s website.
Bajio to Merge with Costa Vida
By: Skyler Hardman
EPHRAIM- Jason Stowe, co-founder of Bajio Mexican Grill announced an upcoming merge between Bajio and Costa Vida when he spoke to Snow last Wednesday.
Stowe’s audience was intrigued when they heard him mention an upcoming merge between Bajio and another well known Mexican grill.
“Which company are you merging with?” asked a Snow student near the end of the presentation.
“Since my team let it out of the bag this morning I guess I can tell you,” said Stowe. “Costa Vida.”
Stowe explained that it was almost meant to be. With a total of 67 locations between the two restaurants only three locations overlap. Early in the presentation Stowe had a lot to tell Snow students and the community.
“You can do more than you think you can,” said Stowe. “And you’re stronger than you think you are.”
At 16 years old Jason Stowe started flipping burgers, within a year he was an apprentice chef at Deer Valley Ski Resort.
Stowe gained much of his passion for the food industry while working as a chef at the National Institute of Fitness in St. George. There he taught people with health struggles how to live by a diet that would enhance their lives.
He turned Zuka Juice from a one location operation into a franchise with locations in nine states. He went from a kid who put skiing above school to an entrepreneur who spent 80 hours a week working on his business.
After being consumed with work and other personal ventures Stowe’s five year old child asked, “Why don’t you like me?” That reality check brought things back into perspective.
“Self-serving will lead you down a path of destruction,” said Stowe.
He learned from experience. Following the sudden success of Bajio Stowe found himself visiting Mexico monthly. Some time spent working, most of the time spent playing.
“If you don’t plan to succeed you plan to fail,” said Stowe. Stowe credits much of his success to goals set early in life. He made it clear that life-long goals should not be overshadowed with aspirations for immediate success.
“If you’re in it (entrepreneurship) just for the money, head out,” Stowe said. “If you don’t have passion about something you’re going to do, you’re not going to do it to the best of your ability.”
Stowe made mistakes in his personal life and career. He has developed a mindset of putting others first.
“After all that is said and done what will you want others to remember you by?” asked Stowe.
The class to which he spoke is hosted by the business department and titled Entrepreneurship Seminars. Whether enrolled or not the class is open to everyone, students and citizens alike. It is held every Wednesday at 12:30p.m. in Huntsman Library Auditorium.
Next week the entrepreneurship speaker will be Parker Garlitz. He is co-owner of Living Whole Foods. Garlitz also has extensive experience in internet marketing and consulting.
Seminars Continue with Craig’s Cuts
By: Skyler Hardman
EPHRAIM- Last Wednesday Craig Guincho, the founder of Craig’s Cuts, spoke to Entrepreneurship Seminar students about the importance of using financial data to manage a business.
Craig’s Cuts was started in 2008 under the name Seven Dollar Cuts. It has grown from one location to six and served over 130,000 haircuts in two years.
“What is something everyone needs,” Guincho asked himself before starting Craig’s Cuts. “Everyone needs a haircut,” said Guincho.
The barber shop offers seven dollar haircuts and gives a one dollar discount if you wait more than 15 minutes to be seated. From the beginning Guincho aimed for value.
“It started with a vision and initiative to always provide the best quality and the best priced haircut,” said Guincho.
Guincho, like other entrepreneurs Snow has featured this year, started his business as a student. Despite that his business would be competing in a 50 billion dollar industry Guincho took a lean and mean approach.
Only three percent of revenue from Craig’s Cuts is put towards advertising. An above average 51 percent of revenue goes to payroll. Guincho made it clear that he wants happy employees and happy customers.
“It’s not about the dollar, it’s about the customer,” said Guincho. “You can’t make everyone happy though, and that can be hard.”
Craig’s Cuts will have eight locations by the end of the year and Guincho hopes to have the company on the Inc. 500 list come 2012.
The class to which he spoke is hosted by the business department and titled Entrepreneurship Seminars. Whether enrolled or not the class is open to everyone, students and the community alike. It is held every Wednesday at 12:30p.m. in the Huntsman Library Auditorium.
Next week the entrepreneurship speaker will be Greg Wilson. He represents Mity-lite. Mity-lite was founded in 1987. Mity-lite is a global manufacturing company that makes chairs, tables and related products.
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