Tim Costello - Self made millionaire

Résumé du document

Tim Costello is the owner, founder and creator of the business ?Baby Elegance', which is the only Irish manufacturer of baby clothes and accessories. I consider Tim Costello an entrepreneur for many reasons. The first reason is as an obvious one, as I have already stated that he is the creator, founder and owner of a business which he set up with his own ideas and his own money. Wikianswers (answers.com) defines an entrepreneur a truly a unique individual. Entrepreneurs find it difficult or impossible to work for someone else, although they do work for the customers. They are willing to put EVERYTHING ON THE LINE FOR THE PASSION AND LOVE of seeing their enterprise grow; and sometimes have to live with several failures. They learn to continue to go the extra mile, hour after hour, day after day, planning, adjusting, rescheduling, and refining their business, working relentlessly long after everyone else has gone home.

Extraits

[...] He is worth millions and has left a heritage behind him which he believes could last forever. During this hour and fifteen minute interview Tim delved into past accomplishment as well as future prospects and showed to me to be, in my opinion, the ultimate entrepreneur and deserved everything which came his way as nothing was handed to him on a plate and he had to work harder than anyone I have ever heard of to get were he is today. [...]

[...] The three pieces of advice for managing a company was more or less the exact same apart from getting an idea his no.1 piece of advice was to treat your people fairly. This again is exactly what he did for example the first thing he did when his company started to grow was to get all his staff onto the property market which at the moment is paying dividends. Tim prides himself on having near a 100% employee retention rate with people only ever leaving if they were moving abroad. [...]

[...] O'Farrell said there were three different types of entrepreneurs and in my opinion Tim Costello fits into one of these categories. From my discussion with Tim the category would be the opportunist entrepreneur. In modern management an opportunist entrepreneur as being of a lower middle-class background and educated to Leaving Certificate Level, this person has held a variety of jobs and may have a background in a family business. This person tends to have nursed an ambition to found their own business for a long time. Firstly Tim fits perfectly into this description. [...]

[...] Egocentric: this is probably the one point which Tim didn't have although he believed in himself in my interview with him he never came across as being egocentric. Disenchanted with the status quo: status quo refers to doing things by a certain way while Tim done things differently depending on how he felt it should be done. Impatient: Tim didn't like waiting around for things to get done if there was a way of getting it done quicker whether it be by him driving the goods to the desired location by himself he would do it. [...]

[...] This is why I would refer to Tim Costello as being the Ultimate entrepreneur. In my discussion with Tim it is all these things which were quiet obvious to me were things which Tim had been like. Just take the phrase ‘Entrepreneurs find it difficult or impossible to work for someone else'. At the start of my discussion with him he told me he ‘loved work' but by the age of 22 he left a full time job were he was earning good money and more or less running this company to set up his own business just because he always wanted to be his own boss. [...]