President of the Collegiate Entrepreneurs Organization, CEO, sophomore Dan Fink, has been a businessman for years.
From a chain of lemonade stands in his youth to refurbishing MacBooks in high school with a partner at Mac Bros., Fink has seen his share of successes and failures.
Regardless of the outcome, one thing he said has always been at the core is finding the right team for the job.
“It all comes down to networking because an okay idea in the hands of a skilled, passionate team can have endless possibilities,” Fink said.
Upon finding the right people, Fink said open communication can determine success.
“It’s critical because that will make or break a project or business; bad communication will cost you a lot of money.”
For those looking to make professional ties at UW-Whitewater specifically, Fink said students should ask professors for their opinions or turn to his group, CEO.
The organization meets at 5 p.m. every Wednesday in Hyland Hall room 1314. Questions can be sent to Fink at [email protected]. The group is also active on Facebook and Twitter.
Fink said the meetings draw people from different majors and that the alumni and business professionals, who speak at these meetings, offer valuable insight not always available in the classroom.
“We offer advice and networking to help small businesses so it’s shocking to hear that those kinds of people haven’t heard of CEO,” Fink said. “As for our speakers, they share what they’ve learned the hard way in order to help others.”
Upon examining his past experiences, Fink said it can often be a case of trial and error.
As was the case with Mac Bros., where Fink said he earned little money but gained experience in managing and logistics.
Recently Fink was involved in making applications for iOS devices. He said that it would have taken almost two years just to have an average understanding of the code.
Rather than invest that time, Fink invested money in a partner familiar with app making.
Fink said it can be helpful to expand a team, but that human resources should be kept to a minimum. A larger staff means more money spent on salaries.
Whatever the endeavor, Fink said the most important thing is to simply pursue an idea.
“In the classroom the material is often theoretical, but you don’t always know the outcome in the real world,” Fink said. “That unknown is why some people are afraid to take risks because they don’t want to fail, but you have to just go for it.”