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Adam Farrell Discusses Challenges of Operating a Business With Family Members

Speakers for this podcast

  • Founder , Silicon Solar
  • male
  • Caucasian
  • 1984 (Age: 40 years old)

Biography

Adam Farrell founded Silicon Solar when he was 15. It had a single product, a raw solar cell for use in educational kits, and was based in his bedroom. Today there are about 260 products, a busy Web site, sales are growing at about 10 percent annually, and the company is putting a large addition on a building it moved into last year.

Farrell owns 60 percent of the corporation. His older brother, Matt Farrell, a 24-year-old Cornell graduate, serves as vice president and owns the rest.

Adam Farrell expects to graduate in December 2006 with a degree in Applied Economics and Management from Cornell University.

The question is difficult to answer because it depends on your business, it's product based or service based. It depends on your family members... what's their ... you need to know how they react in certain situations, how do they react when everything goes wrong and you're at fault and you are tel...(Full transcript available to logged in subscribers.).

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