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Newsflash

(19 April 2014)  My name is Tim Bondy and the owner of this website.  As of Jan 1st, 2014 we moved to a different domain.  Please head over to the Bondy Blogs Website at http://bondyblogs.com  Different address, different system but same type of great articles, photos, stories and information. 

 
You are here: Idaho Business Idaho Business News Business Success Story

Business Success Story

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Frank T is an old friend and a successful small business owner. But until 2007 he wasn't quite as successful. It was suggested by Frank, that I reach outside of the "Idaho Only" posts on this website and tell his story. So I bow to his expertise and present his story. I hope you learn something from Frank...

Just like old times with Tim Bondy and Frank T

Long Time Friendship
I've know Frank since we were little hoodlums back in 1968. We went to the same elementary school but then lost contact with each other after my family moved away before high school. As luck would have it we reestablished contact in the early 1980's and have been in contact ever since. We took different paths though life. I joined the United States Air Force and Frank muddled through life working various jobs in many different places.

New Life, New Career, New City
Frank moved to Colorado in the mid-1990's with the seed of an business idea and high hopes. With only a high school diploma, tons of street smarts and a new bride, Frank decided it was time to settle down and make a real life for his new family. It took a lot of hard work, scrimping and some luck but he finally opened his new business. The type of business Frank opened isn't important to this story so we'll just say he built a better "widget" as he liked to tell me in the early days.

By 2001-2002, Frank had one office and 5 employees. The money wasn't rolling in but it was enough to live on. He ruled his company with an iron fist overseeing the entire operation from customer service to product production and quality control. Working 7 days a week doing everything he could to build his company took a toll on his family life and health.

New Blood Meets Rock Bottom
Competition in the "better widget" business started heating up just as his family life started its decline. A couple employees jumped ship and started working for competing companies in Denver. By 2004, things were not looking good for Frank. Then around Thanksgiving 2004, a young at heart 63 year old guy answered a "help wanted ad" Frank put in the newspaper. Frank decided that he should give "Old guy Jimmy" an interview. With his personal life in shambles, Frank didn't realize he set up the interview for Thanksgiving Day 2004.

"Old guy Jimmy" needed the job and sat down with Frank. The 1st interview didn't go as expected. The interview turned into a most of the day learning experience for Frank. Frank told me it was more like Jimmy was interviewing him. Long story short? "Old guy Jimmy" accepted a job at Frank's crumbling and declining company. By Christmas 2004, there were only 3 employees including Frank.

Franks business declines with no creativity

By April 2005, the books for Franks company were "still bleeding red" and he was still working 15-18 hours a day. "Old guy Jimmy" accepted the job with Franks company on the condition he would have some input on how business would be run. But Franks, as always, could not and would not listen to anyone. That was until Jimmy threatened to quit. Frank and Jimmy had a "throw down, knock out fight in the middle of the office".

Big Changes in "The Philosophy"
Old guy Jimmy still works "with" Frank to this day. Frank's company experienced a complete turn-around in just 3 years. By the time the "Great Recession" began Frank's company had grown to 8 employees. Three of his new employees came from companies in direct competition to his. More importantly customers and money started rolling in. On March 25th 2010, Frank opened his 2nd shop in Colorado Springs and hired 5 more employees.

Grand Opening March 25 2010

As of February 5th 2011, Frank tells me his small business is "THE" company to work for and business continues to grow "almost" faster than his employee can handle. He now works a regular 40-50 hours a week, has a new child on the way and his family life is quite good.

What Changed in Frank's Business?
Frank gives "Old guy Jimmy" all the credit for turning his company and his life around. But it really wasn't until February 3rd that Frank understood exactly what happened. This was the day he read an article that explained Old guy Jimmy's business philosophy.

This is the link to the article Frank thought was his key to success:  http://www.entrepreneurs-journey.com/4256/biggest-killer-of-innovation-in-business/

Here is a semi-direct quote from Frank:
"15 years ago I created a better widget because I believed in taking chances and thinking outside the box. Then I built a box so big, with so many rules that I couldn't think outside the box and I certainly wasn't going to let my employees outside that box. Jimmy discovered what was wrong with my small business during that Thanksgiving 2004 interview and saw something in me and my company. Thankfully he kicked my ass way back in April 2005. I lost my creativity and in the process almost lost my family and faith in myself."

Leave Me a Comment
Me thinks Jimmy doesn't get paid enough to put up with my old friend Frank. Both Jimmy and Frank thought it best to remain semi-anonymous...at least for now. What are your thoughts about this article?


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