I think it's great that you got to interview your grandfather about his business. Like he said, it is a huge part of his life that he has dedicated so much time to. I noticed that similarity to the business owner I interviewed; they both said you need to constantly be working at what’s best for your company. I thought it was interesting that the partnership structure worked out so well for the co-owners. Partnerships require a lot of cooperation and patience; congrats to them for working it out. I guess it probably worked out well that your grandfather handled the administrative aspects while the other owner handled the production aspects. This way they probably had more time to focus on what they were in charge of instead of having to deal with everything at once. I also thought it was interesting and neat how it's kind of a specialty business with a specific market. The book defines specialty goods and services as “consumer products with unique characteristics and brand identity. Because these products are perceived as having no reasonable substitute, the consumer puts forth a special effort to purchase them.” You can tell their specialty items because of the picture you have of a hand holding the tiny pieces. Your grandfather must have a lot of knowledge about all the different kinds of intricate machine parts. That knowledge probably took years of experience to obtain. It’s too bad that the market is slowly dwindling due to outsourcing and technological advances.
1 comment:
I think it's great that you got to interview your grandfather about his business. Like he said, it is a huge part of his life that he has dedicated so much time to. I noticed that similarity to the business owner I interviewed; they both said you need to constantly be working at what’s best for your company. I thought it was interesting that the partnership structure worked out so well for the co-owners. Partnerships require a lot of cooperation and patience; congrats to them for working it out. I guess it probably worked out well that your grandfather handled the administrative aspects while the other owner handled the production aspects. This way they probably had more time to focus on what they were in charge of instead of having to deal with everything at once. I also thought it was interesting and neat how it's kind of a specialty business with a specific market. The book defines specialty goods and services as “consumer products with unique characteristics and brand identity. Because these products are perceived as having no reasonable substitute, the consumer puts forth a special effort to purchase them.” You can tell their specialty items because of the picture you have of a hand holding the tiny pieces. Your grandfather must have a lot of knowledge about all the different kinds of intricate machine parts. That knowledge probably took years of experience to obtain. It’s too bad that the market is slowly dwindling due to outsourcing and technological advances.
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