Interview Of An Entreprenuer

INTERVIEW OF AN ENTREPRENUER

I interviewed Hassan, co-owner of Road Star Motor Sports, because his business is extremely innovative and growth-oriented. The purpose of this interview was to learn the following:

§ how to identify a business opportunity

§ how to successfully launch a business

§ how to deal with perceived risks prior to start-up

§ how to solve problems encountered during start-up and over the lifetime of a venture

BACKGROUND

I was introduced to Hassan through a mutual acquaintance that knows I am truly fascinated by the ability to customize vehicles, but more specifically, expensive luxury vehicles. Hassan, originally from Ghana, moved to California with his family twenty years ago. Coming from a large family with 4 brothers and 3 sisters, Hassan was determined to be financially successful. After graduating from Loyola Marymount and working as a financial advisor/broker for Morgan Stanley, Hassan decided he was not happy working in corporate America. After resigning from Morgan Stanley in 2001, Hassan decided his dream of being financially successful would be much easier to accomplish if he launched his own business. Driven by his passion for classy and stylish vehicles, Hassan launched a motor sports company in 2002.

SHARED VISION

Hassan, co-owner of Road Star Motor Sports, shared his vision to launch a motor sports business that customizes expensive European vehicles with his younger brother, Hussein, and cousin, John. Just 3 years ago, this trio put their capital resources together and launched Road Star Motor Sports. Road Star Motor Sports is not just another motor sports business, it's a motor sports business that focuses on customizing each vehicle to the owner's perfection and guaranteeing that attention to detail is carried out in every aspect of their operation ranging from custom paint and restoration to leather and suede headliners. The owners of Road Star also pride themselves on making each and every one of their clients feel like a star because they know that client satisfaction is the key to Roadstar's success. This idea is best conveyed in Roadstar's mission statement: "We create STARS on the road. Roadstar ensures that performance and quality are an intrinsic part of every wheel that hits the road. At Roadstar we believe that car and driver should coast in true cognoscenti' perfection that is truly exclusive and personal."

LAUNCH

Prior to launching Road Star Motor Sports, Hassan and his partners heavily researched the motor sports industry. In an effort to differentiate their company from competitors, this trio decided to focus their business on solely customizing expensive European vehicles, for example, Lamborghini's and Ferrari's. According to Hassan, funding Road Star was the most difficult element of launching his business. During the first two years, Hassan and his partners consistently poured their personal savings into the business just to keep it afloat. During their first year in business the trio did not focus on earning revenue; they focused on advertising, establishing clientele, and gaining exposure. Currently, Road Star is in its third year and is finally earning significant revenue, thus, returning profits back to its founders.

RISKS

Prior to start-up, the owners of Road Star knew they would be risking their life savings if their business failed. More important though, they were confident this risk would quickly fade because they were following their passion. In an effort to gain a competitive edge over their competition, this trio exhausted large amounts of capital on importing vehicles foreign to the US market. By importing vehicles, Road Star risked rejection from US consumers; however, this was just a perceived risk because ultimately customizing European vehicles is what differentiated Road Star from other motor sports companies.

PROBLEMS

Finding a location was a major problem for Road Star. The trio had great difficulty finding a location that had a warehouse where they could customize/store cars. After moving from their initial location because it was too small, Road Star found its home in West Los Angeles.

GUIDANCE

Hassan didn't ask anyone for guidance during the start-up of Road Star because he believed experiencing difficulties on his own would make him a strong businessman. With the help of his partners and a sound educational background in business and finance, Hussan and his partners guided themselves through the trials and tribulations of launching a business.

GROWTH

Hassan and his partners are experiencing significant growth since they are launching a second Road Star Motor