Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Rich Reinecke, Co-Founder of Fahrenheit Advisors, located in Richmond, VA, USA.
What's your business, and who are your customers?
Fahrenheit is a consulting and advisory firm with 130+ employees and consultants who are particularly great at solving our clients' most complex and pressing issues and helping them navigate forward. We have broad capabilities across key business functions, including strategy, accounting and finance, human capital, sales, executive search, and other strategic business operations. Although we serve large-cap companies, state and local governments, and nonprofits, most of our clients are middle-market companies across a very wide variety of industries.
Tell us about yourself
I had an entrepreneurial spirit long before I understood what it really meant to be an entrepreneur. My early career exposed me to both large companies and entrepreneurial environments, where I saw opportunities to chart my own course and focus on what I felt would impact company success most. In 2009 during the worst economy of my career and a market that wreaked havoc on my business, I was lucky to start a discussion with my now business partner and our angel investor. We launched Fahrenheit in January of 2010 and truly feel beyond blessed to work with an amazing group of people (now 130++) committed to sustaining a culture that focuses on delivering results for clients so that we, in turn, can meaningfully support the communities where we work and live.
What's your biggest accomplishment as a business owner?
Every business faces a similar challenge in finding great talent. Unemployment is at the lowest it has been since we landed on the moon, and this competitive market has provided employees with many options in career choices. I think our greatest responsibility and accomplishment is creating a place that our team chooses to be part of every day. I look around and am amazed at the talent that surrounds me daily. It's a team of skilled, collaborative, and bighearted people doing great work with a shared purpose.
What's one of the hardest things that come with being a business owner?
Having the vision to make the hard decisions and knowing when to pivot. I like to see the opportunities in all things, but I realize knowing when to say "no" is a skill critical to business success.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Don't fall in love with an idea. You will likely need to pivot (multiple times) as you find your way to success.
- Determine the success characteristics you think are critical for your team to share. If someone doesn't fit those, maybe they shouldn't be a part of your company.
- Pay attention to your organization's culture and cultivate the one you want. Culture will play a big role in attracting and retaining the talent needed for long-term growth.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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