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Frank Farwell Discusses Importance of Hiring Good People and Finding a Replacement

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Total Case Duration :

  • Date Added : 4/1/2001
  • Clip Duration : 5 min. 33 sec.

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Frank Farwell

  • Founder, WinterSilks
  • male
  • Caucasian
  • 1950 (Age: 71 years old)
  • Frank Farwell - Interview - WinterSilks
  • Video 1 of 28 in this Case
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Biography

Francis Farwell, founder of WinterSilks Inc., a Middleton, Wis., mail-order apparel company, planned to sell his business from the start. Based on that decision, he built the business accordingly. Instead of plowing all his earnings into growth, he made sure the company maintained a sizable free cash flow, making it more attractive to potential buyers. In 1990, Farwell sold out, pocketing several million dollars.

Well, that's a good question. Getting key people is everything. At first you want cash flow, and of course to do that you need a product for which there is a demand you can build or subcontract to make at a fair price. I had the cash flow component and then I needed people and getting good people...(Full transcript available to logged in subscribers.).

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Frank Farwell videos

Video 1 of 28 Frank Farwell Discusses Definition of An Entrepreneur
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 0 min. 58 sec.
Video 2 of 28 Frank Farwell Discusses Starting Out As An Entrepreneur and Importance of Real Life Experience
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 2 min. 13 sec.
Video 3 of 28 Frank Farwell Discusses Original Goals and Determining Personal Passion
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 2 min. 28 sec.
Video 4 of 28 Frank Farwell Discusses Reaction of Family and Friends
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 2 min. 26 sec.
Video 5 of 28 Frank Farwell Discusses Finding the Strength to Make Business Work
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 0 min. 37 sec.
Video 6 of 28 Frank Farwell Discusses Starting the Business and Adjusting to Setbacks
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 3 min. 35 sec.
Video 7 of 28 Frank Farwell Discusses Product, Ads, and Sales Figures in the Early Stage of the Business
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 4 min. 9 sec.
Video 8 of 28 Frank Farwell Discusses Selling the Business
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 4 min. 22 sec.
Video 9 of 28 Frank Farwell Discusses Exit Strategy and the Process of Leaving the Business
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 4 min. 22 sec.
Video 10 of 28 Frank Farwell Discusses Burn Out and Retirement Before the Age of 40
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 1 min. 13 sec.
Video 11 of 28 Frank Farwell Discusses Health Problems Resulting from Stress
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 2 min. 48 sec.
Video 12 of 28 Frank Farwell Discusses Importance of Hiring Good People and Finding a Replacement
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 5 min. 33 sec.
Video 13 of 28 Frank Farwell Discusses Developing a Level of Stability in the Company
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 1 min. 6 sec.
Video 14 of 28 Frank Farwell Discusses Customer Service Achievements within the Company
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 0 min. 58 sec.
Video 15 of 28 Frank Farwell Discusses Later Issues with Inventory Changes and Bankruptcy
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 2 min. 52 sec.
Video 16 of 28 Frank Farwell Discusses Turnaround, Exiting Bankruptcy and Becoming Cash Positive
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 1 min. 38 sec.
Video 17 of 28 Frank Farwell Discusses Difficulty of Being Emotionally Separated from the Company Post Sale
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 0 min. 50 sec.
Video 18 of 28 Frank Farwell Discusses Differences Between Small Business and Big Business Professionals
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 0 min. 38 sec.
Video 19 of 28 Frank Farwell Discusses Initial WinterSilks Product
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 1 min. 13 sec.
Video 20 of 28 Frank Farwell Discusses New Product Development and Determining Breakevens
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 3 min. 6 sec.
Video 21 of 28 Frank Farwell Discusses Challenges of Dealing with Asian Suppliers
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 5 min. 15 sec.
Video 22 of 28 Frank Farwell Discusses Funding - Personal and Commercial
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 5 min. 28 sec.
Video 23 of 28 Frank Farwell Discusses Challenges of Borrowing Money From Family
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 0 min. 51 sec.
Video 24 of 28 Frank Farwell Discusses Bank Funding and the Strategy of Financing a Small Business
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 5 min. 25 sec.
Video 25 of 28 Frank Farwell Discusses Challenge of Dealing with International Vendors
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 3 min. 15 sec.
Video 26 of 28 Frank Farwell Discusses Employee Sabotage with Computers
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 6 min. 2 sec.
Video 27 of 28 Frank Farwell Discusses Importance of a Commodity Product
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 1 min. 40 sec.
Video 28 of 28 Frank Farwell Discusses Personal Plans for Future
  • Frank Farwell - Interview - WinterSilks
  • 4/1/2001
  • Frank Farwell
  • 1 min. 45 sec.

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