Company: Oxford Park/RoyalPak
Full profile of Bill Hennessey
Can you think of something you might have done differently, or a decision you would change, that would have made it easier to get your business to this point?
It took me a long time to learn to hire effectively. I've stumbled across some great candidates who don't cut corners and who don't fight for every penny. They know their value and they ask for it, but it's never more than they deserve. These loyal soldiers have stuck with me through the good and the bad. They work Saturdays and Sundays, and not because they're looking for praise. I used to think everything was negotiable and that compensation needed to be tied to performance, but there are exceptions. Not everyone is motivated by money. When you find these people, you need to recognize the opportunity and give them what they ask for.
How optimistic are your about the Canadian economy in the next 12 months? What makes you optimistic/pessimistic?
The banks are lending. Entrepreneurship is hotter than ever in Canada. Consumers are not pinching pennies as hard as they have been in the past few years. It's a great time to be a business owner in this country.
Do you think the rewards of being an entrepreneur outweigh the investment you make in time and effort to run your own business? What are those rewards for you?
Definitely. As an entrepreneur, you control your own destiny: I work the hours I want to work, and I take vacations when I want to take vacations.
I've met a lot of people through business; these relationships mean the world to me and they make the effort worthwhile. I also get a lot of personal satisfaction from building things—it's part of my identity—and transferring my collected business knowledge to aspiring and early-stage entrepreneurs through my blog, public-speaking engagements and by being involved in entrepreneurial events. Watching others set and reach their goals is energizing.