Below is an exerpt from "A Cup of Cappuccino for the Entrepreneur's Spirit Volume II"
The Idea Guy - Guy Dunn
When I was a young boy of eleven, my dad worked in New York’s
garment district dispatching people for his employers. Although he was a very driven man and was making a lot of money for other people, my dad was bringing home a pittance. He soon realized his situation and didn’t like it one bit, especially since he had five children he wanted to send to college. You see, my dad grew up poor in Brooklyn and never went to college, but he had a dream that he could provide the opportunity of higher education to his children and to his nieces and nephews.
My dad decided he’d rather make money for himself than for his employer, so he quit his job and started his own business, Hour Power. This unskilled labor employment agency lasted about two years until my dad noticed many of the jobs he received were for cleaning offices. At this point, he folded Hour Power into Dunn and Sons Maintenance, a janitorial business owned jointly with one of his brothers and one of his sisters. He always said, “Office cleaning is one business that will never go away.”
Through relationships he developed, he became aware of the federal Small Business Administration 8(a) program. This program sets aside government contracts for companies owned and operated by disadvantaged individuals. SBA 8(a), as it is known, was geared toward minorities in the 1970s and my dad took full advantage of it. He became a star in the program and within a few years was grossing two million dollars annually.
By this time, I was in high school and all my brothers and sisters and many of my cousins worked in the family business. Growing up during this period meant we all worked from a young age. You name it, we cleaned it: offices, factories, stores, and construction sites. I enjoyed working; I liked making my own money and I loved the independence it gave me. Unlike some fathers, my dad didn’t give us an allowance; he allowed us to work and earn our money. I always respected him for that.
During my senior year, I was in a class called “distributive education.” Through this program I got a job working as a teller at a local bank. I worked there for about one year and, although I liked it, I didn’t enjoy having other people control my professional life. It was then I decided I was going to own a business. I knew it meant a lot of hard work, but I also knew the level of independence it provided. It was then I started to plan.
After high school, I decided I was going to Morehouse College. In my youthful arrogance, I applied only to Morehouse and nowhere else—it was risky, but I was confident they would never turn me down! I also knew going in that I would graduate with an accounting degree, work for my dad for a couple of years, and then start my own business. And that is what I did. When I came out of college in four years with my accounting degree from Morehouse, I worked under my brother as Assistant Controller for Dunn and Sons.
By this time the company was making about five million dollars annually and I learned a lot, including how to juggle priorities. In small businesses there are ebbs and flows in the cash flow cycle and they can make or break a business. My job was to monitor the cash flow on a daily basis to determine who to pay. I had to anticipate payroll and payable needs and then coordinate them with receivables and our line of credit. To me it was great and I loved the challenge. I developed spreadsheets to manage the process and enjoyed the science of it. I was enamored with creating formulas and projections that I monitored to help run this million-dollar business.
While working in my dad’s business, I also had my own businesses. I started my first venture, Positive Image Resumes, with a friend. With the invention of desktop computers, I saw an opportunity: people needed resumes, they needed them on the fly, usually in quantity, but they didn’t have the equipment to make it happen. We decided to purchase a couple of computers and provide a resume writing and printing service. We each chipped in from our savings to buy computers and supplies. It was a small venture and while it didn’t make us rich, it allowed us to keep a few dollars in our pockets.
Around this same time I was dabbling in real estate and started another business with some of my father’s friends in Philadelphia. I had more ideas than time. One could say I was already a serial entrepreneur. One of my most successful projects began as a cleaning business in Philadelphia. Marion Scott and his wife wanted to grow their company through government contracting.
Since my dad was so successful in this area, he suggested I go to Philly to work with the Scotts. We wanted to replicate the success my dad achieved in northern New Jersey. Our journey began in the living room of the Scott’s house as we launched Scott and Sons Maintenance.
Like my father before me, I went to the Small Business Administration to apply for the 8(a) program. Through a friend of a friend of my father’s, we were ushered through the process of getting into the program. This connection at the SBA proved to be a great asset to us. He helped us get into agencies and advocated for us. I’m sure if we didn’t have him, or someone like him, on our side we wouldn’t have achieved the success we did. This experience proved to me at an early age that success largely depends on relationships and how you work them to your advantage.
We grew the business from nothing to eight million dollars within nine years. We became one of the fastest growing companies in the Philadelphia region by listening to those who helped us, paying attention to our customers’ needs, and learning from the mistakes of others.
I was the initial Controller because of my accounting background. I had a good handle on the financial aspects of a small operation and I put together proposals and bids for our contracts. I actually enjoyed the work because it was simple and concrete. I enjoyed manipulating the numbers to give various scenarios based on all of our available options and then deciding on winning strategies.
We won contract after contract based on our relationships, our proposal writing, and our reputation. I was proud to be a part of an organization that was considered one of the best. We were very conscious of our customers’ needs and made customer satisfaction our number one concern. If necessary, I believed it was worth taking a small loss on a job if it meant maintaining a relationship or keeping our reputation intact. This did not happen often, but it did happen.
One of the other lessons I learned was the value of diversification. We started in the office cleaning business, but we evolved into a labor management company. We had a janitorial operation, but we also had grounds maintenance and food service divisions. Diversification is another area where our reputation, as well as
I also learned that financing is the key to managing growth and building a business. Here, I was able to utilize my accounting background and personal resources. In a pinch, my father had the ability to lend our company money. When we received our first large contract, I put the loan package together for our company. I shopped our package to twelve banks and was turned down at eleven of them. In spite of the numerous rejections, I always believed we would get the money we needed. Each time I kept going back and asking what I could have done to make our package better. Finally, one of the banks did give us a loan and from then on we were able to get money as we needed it. I was a whiz at making our statements look the way they needed to look to get to that yes answer.
After selling my interest in Scott and Sons Maintenance, I
As a serial entrepreneur, I have continued to be involved in many business opportunities. I am an entrepreneur first and foremost. I have spent most of my adult life running, managing, or showing people how to run a business. I am thankful to my dad for his example and for my focus and drive to succeed. I have lots of ideas. I just wish I had the time to implement them all!
KEY SUCCESS FACTORS: Hard Work, Drive, Focus, Perseverance, Determination, Reputation, Customer Service, Networking, Ideas
RECOMMENDED BOOK: The Secret by Rhonda Byrne
Follow Guy
The Idea Guy - Guy Dunn
When I was a young boy of eleven, my dad worked in New York’s
garment district dispatching people for his employers. Although he was a very driven man and was making a lot of money for other people, my dad was bringing home a pittance. He soon realized his situation and didn’t like it one bit, especially since he had five children he wanted to send to college. You see, my dad grew up poor in Brooklyn and never went to college, but he had a dream that he could provide the opportunity of higher education to his children and to his nieces and nephews.My dad decided he’d rather make money for himself than for his employer, so he quit his job and started his own business, Hour Power. This unskilled labor employment agency lasted about two years until my dad noticed many of the jobs he received were for cleaning offices. At this point, he folded Hour Power into Dunn and Sons Maintenance, a janitorial business owned jointly with one of his brothers and one of his sisters. He always said, “Office cleaning is one business that will never go away.”
Through relationships he developed, he became aware of the federal Small Business Administration 8(a) program. This program sets aside government contracts for companies owned and operated by disadvantaged individuals. SBA 8(a), as it is known, was geared toward minorities in the 1970s and my dad took full advantage of it. He became a star in the program and within a few years was grossing two million dollars annually.
By this time, I was in high school and all my brothers and sisters and many of my cousins worked in the family business. Growing up during this period meant we all worked from a young age. You name it, we cleaned it: offices, factories, stores, and construction sites. I enjoyed working; I liked making my own money and I loved the independence it gave me. Unlike some fathers, my dad didn’t give us an allowance; he allowed us to work and earn our money. I always respected him for that.
During my senior year, I was in a class called “distributive education.” Through this program I got a job working as a teller at a local bank. I worked there for about one year and, although I liked it, I didn’t enjoy having other people control my professional life. It was then I decided I was going to own a business. I knew it meant a lot of hard work, but I also knew the level of independence it provided. It was then I started to plan.
After high school, I decided I was going to Morehouse College. In my youthful arrogance, I applied only to Morehouse and nowhere else—it was risky, but I was confident they would never turn me down! I also knew going in that I would graduate with an accounting degree, work for my dad for a couple of years, and then start my own business. And that is what I did. When I came out of college in four years with my accounting degree from Morehouse, I worked under my brother as Assistant Controller for Dunn and Sons.
By this time the company was making about five million dollars annually and I learned a lot, including how to juggle priorities. In small businesses there are ebbs and flows in the cash flow cycle and they can make or break a business. My job was to monitor the cash flow on a daily basis to determine who to pay. I had to anticipate payroll and payable needs and then coordinate them with receivables and our line of credit. To me it was great and I loved the challenge. I developed spreadsheets to manage the process and enjoyed the science of it. I was enamored with creating formulas and projections that I monitored to help run this million-dollar business.
While working in my dad’s business, I also had my own businesses. I started my first venture, Positive Image Resumes, with a friend. With the invention of desktop computers, I saw an opportunity: people needed resumes, they needed them on the fly, usually in quantity, but they didn’t have the equipment to make it happen. We decided to purchase a couple of computers and provide a resume writing and printing service. We each chipped in from our savings to buy computers and supplies. It was a small venture and while it didn’t make us rich, it allowed us to keep a few dollars in our pockets.
Around this same time I was dabbling in real estate and started another business with some of my father’s friends in Philadelphia. I had more ideas than time. One could say I was already a serial entrepreneur. One of my most successful projects began as a cleaning business in Philadelphia. Marion Scott and his wife wanted to grow their company through government contracting.
Since my dad was so successful in this area, he suggested I go to Philly to work with the Scotts. We wanted to replicate the success my dad achieved in northern New Jersey. Our journey began in the living room of the Scott’s house as we launched Scott and Sons Maintenance.
Like my father before me, I went to the Small Business Administration to apply for the 8(a) program. Through a friend of a friend of my father’s, we were ushered through the process of getting into the program. This connection at the SBA proved to be a great asset to us. He helped us get into agencies and advocated for us. I’m sure if we didn’t have him, or someone like him, on our side we wouldn’t have achieved the success we did. This experience proved to me at an early age that success largely depends on relationships and how you work them to your advantage.
We grew the business from nothing to eight million dollars within nine years. We became one of the fastest growing companies in the Philadelphia region by listening to those who helped us, paying attention to our customers’ needs, and learning from the mistakes of others.
I was the initial Controller because of my accounting background. I had a good handle on the financial aspects of a small operation and I put together proposals and bids for our contracts. I actually enjoyed the work because it was simple and concrete. I enjoyed manipulating the numbers to give various scenarios based on all of our available options and then deciding on winning strategies.
We won contract after contract based on our relationships, our proposal writing, and our reputation. I was proud to be a part of an organization that was considered one of the best. We were very conscious of our customers’ needs and made customer satisfaction our number one concern. If necessary, I believed it was worth taking a small loss on a job if it meant maintaining a relationship or keeping our reputation intact. This did not happen often, but it did happen.
One of the other lessons I learned was the value of diversification. We started in the office cleaning business, but we evolved into a labor management company. We had a janitorial operation, but we also had grounds maintenance and food service divisions. Diversification is another area where our reputation, as well as
I also learned that financing is the key to managing growth and building a business. Here, I was able to utilize my accounting background and personal resources. In a pinch, my father had the ability to lend our company money. When we received our first large contract, I put the loan package together for our company. I shopped our package to twelve banks and was turned down at eleven of them. In spite of the numerous rejections, I always believed we would get the money we needed. Each time I kept going back and asking what I could have done to make our package better. Finally, one of the banks did give us a loan and from then on we were able to get money as we needed it. I was a whiz at making our statements look the way they needed to look to get to that yes answer.
After selling my interest in Scott and Sons Maintenance, I
As a serial entrepreneur, I have continued to be involved in many business opportunities. I am an entrepreneur first and foremost. I have spent most of my adult life running, managing, or showing people how to run a business. I am thankful to my dad for his example and for my focus and drive to succeed. I have lots of ideas. I just wish I had the time to implement them all!
KEY SUCCESS FACTORS: Hard Work, Drive, Focus, Perseverance, Determination, Reputation, Customer Service, Networking, Ideas
RECOMMENDED BOOK: The Secret by Rhonda Byrne
Follow Guy
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