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Case
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Reference no. 818-0066-1
Subject category: Entrepreneurship
Authors:
Kyleen K. Myrah (Okanagan College); Kerry Rempel (Okanagan College); Dana Penney (Okanagan College)
Published in:
2018
Version:
8-Mar-2018
Revision date:
25-Sep-2018
Length:
14 pages
Data source:
Field research

Abstract

CJ Wilkins (Wilkins) sat in his office in October 2013, contemplating his next move. He had put his heart and soul into the small business he had run for the last four years, Optic Signs & Marketing Inc, in West Kelowna, British Columbia (BC), Canada. Now Wilkins had some big decisions to make about his role in the business and the future direction of the company. His relationship with Desirae Paulsen (Paulsen), his business partner and girlfriend, had broken down, and the key employee who was going to manage the business had unexpectedly gone on medical leave. Although he recognized that he had the knowledge and skills to continue to grow the company, Wilkins questioned his ability to go back to working in the business full-time and wondered whether he should sell. As he drank his third cup of coffee that morning, he laid out the options to consider. He could buy out Paulsons 20% stake in the company, but it would mean taking on personal debt as he didnt have the cash to buy her out directly. A second alternative was to hire on a professional manager with design and production background. If he hired someone with experience, would that allow him to remove himself from much of the day to day? He could always keep things as they were right now: working long hours and continuing to grow the business, but seeing growth and promise in his business. What did he want for the future? Was the solution simply close up shop, sell the business, pay out Paulsen, and move onto the next venture?

Topics

Entrepreneurship, success and failure; Buy a business; Green business practices; Business partnership; Entrepreneur trait; Entrepreneur’s journey; Entrepreneurial business growth; Entrepreneurship, new business
Industries:
Size:
5 and under employees, 50th percentile in the local sign and print industry
Other setting(s):
October 2013

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