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Adam Farrell Discusses Challenges of Operating a Business With Family Members

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Total Case Duration :

  • Date Added : 1/25/2008
  • Clip Duration : 2 min. 42 sec.

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Adam Farrell

  • Founder, Silicon Solar
  • male
  • Caucasian
  • 1984 (Age: 37 years old)
  • Adam Farrell - Interview - Silicon Solar
  • Video 1 of 32 in this Case
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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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Adam Farrell videos

Video 1 of 32 Adam Farrell Discusses Starting Silicon Solar Business In High School
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 2 min. 43 sec.
Video 2 of 32 Adam Farrell Discusses Complications of Starting Business While Under The Age of 16
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 1 min. 32 sec.
Video 3 of 32 Adam Farrell Discusses Importance of Leveraging Your Network
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 0 min. 41 sec.
Video 4 of 32 Adam Farrell Discusses Challenges of Balancing Company and School and Maintaining Positive Cash Flow
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 1 min. 5 sec.
Video 5 of 32 Adam Farrell Discusses Challenges of Dealing With International Shipments and With Not Planning Ahead
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 2 min. 11 sec.
Video 6 of 32 Adam Farrell Discusses Support of Track Team and Decision To Stay In School
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 0 min. 58 sec.
Video 7 of 32 Adam Farrell Shares Advice For Students Interested In Starting A Business
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 1 min. 36 sec.
Video 8 of 32 Adam Farrell States Importance of Understanding What University Services Are Available
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 0 min. 50 sec.
Video 9 of 32 Adam Farrell Discusses Positive Impact That Incubators Can Have On A Startup
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 1 min. 7 sec.
Video 10 of 32 Adam Farrell Draws Parallels Between Being On Track Team And Being Part of Business Team
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 1 min. 23 sec.
Video 11 of 32 Adam Farrell Discusses Product Line of Solar-Powered Items
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 2 min. 41 sec.
Video 12 of 32 Adam Farrell Discusses Cash Flow And Silicon Solar's Decision To Scale Back on Product Offerings
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/08
  • Adam Farrell
  • 1 min. 42 sec.
Video 13 of 32 Adam Farrell Discusses Competitive Landscape In Solar-Powered Product Industry
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 2 min. 31 sec.
Video 14 of 32 Adam Farrell States Silicon Solar Is Just Now Pursuing Outside Money
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 2 min. 35 sec.
Video 15 of 32 Adam Farrell Discusses Silicon Solar's Exit Strategy
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 1 min. 30 sec.
Video 16 of 32 Adam Farrell Shares Anecdotes From Silicon Solar's Product Development Milestones
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 1 min. 44 sec.
Video 17 of 32 Adam Farrell Shares Anecdotes From Silicon Solar's Warehouse Expansion
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/08
  • Adam Farrell
  • 0 min. 59 sec.
Video 18 of 32 Adam Farrell Shares Anecdotes From Silicon Solar's Purchase of Chinese Factory
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/08
  • Adam Farrell
  • 2 min. 39 sec.
Video 19 of 32 Adam Farrell Discusses Personnel Issues That Entrepreneurs Face While the Company Is Small And Growing
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 2 min. 20 sec.
Video 20 of 32 Adam Farrell States Covering Costs Is Critical But Shouldn't Be Your Only Decision Making Tool
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 1 min. 28 sec.
Video 21 of 32 Adam Farrell Discusses Challenges of Operating a Business With Family Members
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 2 min. 42 sec.
Video 22 of 32 Adam Farrell States A Fleshed Out Marketing Plan Is More Important Than A Completed Business Plan
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 2 min. 15 sec.
Video 23 of 32 Adam Farrell Shares Thoughts on Working With Factory Based In China
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 2 min. 24 sec.
Video 24 of 32 Adam Farrell Discusses Pros and Cons of Locating In Different Geographic Areas of China
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 3 min. 51 sec.
Video 25 of 32 Adam Farrell Shares Thoughts on the Future of Industrialization and Economic Growth In China
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 2 min. 41 sec.
Video 26 of 32 Adam Farrell Discusses Decision Processes Used In Building Chinese Factory
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 2 min. 8 sec.
Video 27 of 32 Adam Farrell States Chinese Business Practices Have Become More Ethical
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 0 min. 45 sec.
Video 28 of 32 Adam Farrell Discusses Differences Between Chinese and US Business Models
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 1 min. 54 sec.
Video 29 of 32 Adam Farrell States Being Entrepreneurial Is Being Able To Set and Attain Goals
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 1 min. 14 sec.
Video 30 of 32 Adam Farrell States Joy In Running Business Comes From Meeting Goals
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 1 min. 45 sec.
Video 31 of 32 Adam Farrell Discusses Time Management Challenges of Running Product Based Business While A College Student
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 3 min. 6 sec.
Video 32 of 32 Adam Farrell Discusses Importance of Separating Business From Personal
  • Adam Farrell - Interview - Silicon Solar
  • 1/25/2008
  • Adam Farrell
  • 2 min. 33 sec.

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