Reflection Paper Project 4 - 5 pages

Interview on Randy Lewis’ Foster’s Freeze & Real Estate Business 3

Interview on Randy Lewis’ Foster’s Freeze & Real Estate Business

Robert Lewis

DeVry University

Professor: Russell

SBE-310 – Interview Paper

November 10th, 2013

Randy Lewis has been an entrepreneur since 1975. His fields of experience span from franchising, restaurants, real estate and some basic computer programming. As an entrepreneur CEO, Randy Lewis invested in a four businesses over the past 40 years. The first business was the restaurant business called Foster’s Freeze and the 2nd was Vintage Relators.

What type of person becomes this type of risk taker? Money certainly was an important factor for Randy’s new venture but there was more to it. Randy states “You must be an independent thinker and self-starter who desires freedom and independence so that you can chart your own path”

What challenges did he or she face and overcome? Randy and many other entrepreneurs face under capitalization for their business.

What failures did this person have? For Randy, spending too much time in the business and not balancing his family time would be his failure but was a sacrifice he had to endure.

How many companies has he or she started? Randy had three Foster’s Freeze restaurants and one Real Estate brokerage business.

How successful is he or she? Randy has gone from zero to two million dollars back to zero and once again back closer to three million dollars.

Why is this person successful? Randy is successful today due to a few key ingredients; tenacity, an optimist, good management skills and great communication.

Why did he or she become an entrepreneur? Randy sought out to become an entrepreneur is primarily to be being bored with the corporate world. He has the freedom to steer his own ship.

What did you learn about entrepreneurship from this interview? Randy Lewis clearly has demonstrated that money is not the only important or motivating factor when it comes to running a business. He has passion for what he does. Bottom line he is independent.

References

Personal interview by phone

According to R. Lewis (personal communication, November 10, 2013)