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Episode #497:  
BUSINESS LONGEVITY AND FAMILY VALUES

 

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WILLIE'S MOTORS
Willie Bringier’s (williesmotoring.net) passion for customizing cars stems from his childhood. He worked on his first vehicle with his father at the age of ten. He continued to sharpen his skills working at his family’s van conversion business as a teenager. It was only fitting that as an adult, Willie took his expertise to the next level by starting a full-service, after-market accessories company. WILLIE’S MOTORS specializes in performing customization services such as paintjobs and parts-installation to vehicles. However, earning a place in a $29 billion dollar-industry was not easy. Willie had to finance his venture with his own money—an initial investment of less than $500. With virtually no marketing budget, Willie relied purely on referrals to grow his business. Amazingly, Willie’s Motors flourished and has sustained in the industry for 13 years. He credits his success to cost-saving and differentiation through quality service. Currently, Willie employs his son and daughter who will inherit the business after he retires.

 

BROADSPIRE INC.

When Arun and Suresh Srinivasan (213-986-1055) were young, they witnessed their father’s commendable work ethic and entrepreneur spirit. This inspired them to start their own business venture in 1998. They created BROADSPIRE, INC. after recognizing potential revenue to be earned from companies interested in internet marketing. Arun and Suresh aimed to meet this demand by providing online solutions to small and mid-sized businesses. Even though they had a feasible idea, the brothers did not have the proper funding or expertise to bring their vision to life. Fortunately, they received $5,000 from their father for startup cost. Arun and Suresh then compensated for their lack of knowledge with sheer hard work. They were handsomely rewarded for their efforts and Broadspire grew 566% in just five years. The brothers also successfully established a customer base in the entertainment industry, the most noteworthy client being Paramount Pictures. Currently, the Srinivasan brothers are working to expand Broadspire to India.


 

In Secrets of Success, Pam Adams (pamela.adams@agedwards.com) of AG Edwards and Sons, Inc. gives advice on ways to acquire and manage money for a business.


The studio guest is Kevin Roach (kevin.roach@us.pwc.com), a partner of PricewaterhouseCoopers, who discusses succession planning.