Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Why Small may be more

Why Small may be more NEAL R. PEIRCE Three years ago Doug Roby fulfilled a lifelong dream. He quit his job as industrial sales representative for a Midwest firm, and with a partner bought the Palmer Equipment Company, a struggling light-construction equipment leasing and sales firm in a depressed section of Detroit. To say that Mr. Roby's life as an entrepreneur has been easy would not be quite accurate. "I've been in here to mop the floors, negotiate union contracts, worry about product liability and personnel problems," he notes. At home each evening, he spends up to two hours reading trade magazines and industrial periodicals. He acknowledges that without a good accoun­ tant, cash flow problems would probably have forced him out of business the first year. In Detroit's current "construction depression," Mr. Roby's firm is - in his own words - in somewhat "precarious straits." But it has shown profits for two years, and Mr. Roby notes: "If I hadn't bought this company, it would have died in six months. The absentee managers were taking all the cash out. I saved 18 jobs." The Doug Roby story is not unique. While national and state economic policies concentrate on encouraging big national and multinational http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png American Journal of Small Business SAGE

Loading next page...
 
/lp/sage/why-small-may-be-more-rYF0u6eaih
Publisher
SAGE
Copyright
© 1981 SAGE Publications
ISSN
0363-9428
eISSN
1540-6520
DOI
10.1177/104225878100500306
Publisher site
See Article on Publisher Site

Abstract

NEAL R. PEIRCE Three years ago Doug Roby fulfilled a lifelong dream. He quit his job as industrial sales representative for a Midwest firm, and with a partner bought the Palmer Equipment Company, a struggling light-construction equipment leasing and sales firm in a depressed section of Detroit. To say that Mr. Roby's life as an entrepreneur has been easy would not be quite accurate. "I've been in here to mop the floors, negotiate union contracts, worry about product liability and personnel problems," he notes. At home each evening, he spends up to two hours reading trade magazines and industrial periodicals. He acknowledges that without a good accoun­ tant, cash flow problems would probably have forced him out of business the first year. In Detroit's current "construction depression," Mr. Roby's firm is - in his own words - in somewhat "precarious straits." But it has shown profits for two years, and Mr. Roby notes: "If I hadn't bought this company, it would have died in six months. The absentee managers were taking all the cash out. I saved 18 jobs." The Doug Roby story is not unique. While national and state economic policies concentrate on encouraging big national and multinational

Journal

American Journal of Small BusinessSAGE

Published: Jan 1, 1981

There are no references for this article.