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Paul Baron is an Entrepreneur at heart, and at Age 71, he shows no signs of stopping. Paul shares his journey of becoming an accidental entrepreneur, developing, selling, and buying many different businesses, earning lots, and losing it all. From...
Paul Baron is an Entrepreneur at heart, and at Age 71, he shows no signs of stopping. Paul shares his journey of becoming an accidental entrepreneur, developing, selling, and buying many different businesses, earning lots, and losing it all. From starting a sporting goods retail store to high-end restaurants and a high-tech Vertical Printer Company, he experienced it all. In his words, as long as I find passion and can stand behind a product or company, it’s a go.
In this episode, you will learn the following:
1. How Paul Baron become a lifelong Entrepreneur
2. How he overcame bankruptcy and started several new businesses
3. How he spots new opportunities
To get more information and get in touch with Paul visit
Connect with Sabine Kvenberg:
Free Resources: https://www.sabinekvenberg.com/resources
Sabine 0:07
Hello, Paul, how are you today?
Paul 0:11
I couldn't be better. I'd have to be twins. Again. Thank you for inviting me to join you and your audience.
Sabine 0:16
The pleasure is all mine. Paul, you are the founder and CEO of the wall printer USA, which is a vertical printer. And this is really fascinating. I've never heard of a vertical printer and my question to you is, how does it work? Why would we want to have a vertical printer and who uses it?
Paul 0:40
So those are all great questions. And the fact that you have never heard about it before, does not make you a loan setting. The vertical printing while it's not a very new technology, it's about 15 years old. It originated in Southeast Asia. And that's where most of the users of this technology have been until I came on board and discovered it. And they have the same reaction that you have that most people have. Well, gee, I've never seen anything like this before. And for the benefit of your audience. This is a machine that is a printing machine like an inkjet printer on steroids that moves up and down as opposed to your desktop printer that prints on a piece of paper. This is designed with a printhead that is exposed to the wall and will go up and down a vertical rail and print any digital art on any wall surface, indoors or outdoors. There's no limit to the width or the height of the mural, or the picture or the text that you can print. It's whether you want to use it for signage or artwork. But that's who uses it people who want to put artwork on walls.
Sabine 1:50
You started very recent just in 2019. So that leads me really onto your journey. Did you always know that you wanted to become an entrepreneur.
Paul 2:03
So I wanted to be a math teacher. That's what I started doing. But early on, while I was in college to supplement the good graces of my parents financial support, and to have some spending money beyond that. I got a job stringing tennis rackets and something turned out I was very good at and people liked the result of my work. So after I graduated college and got a teaching job, I also opened up a littles tennis sporting goods store with a friend and who's also involved in the tennis community that I was in in the upstate New York town where I went to college. And that store became one store two stores, three stores. And it was a successful venture. And it was taking more and more of my time because I was enjoying learning not only the interactions with the customers, but the vendors, looking at what people wanted looking forward in terms of not only tennis equipment, but then it be expanded beyond that into other areas of sporting goods and clothing and different equipment and things. And so I really enjoyed the process of not only understanding on things like inventory management and the financial aspects of that venture. And mostly the customer relationships is what I enjoyed more than anything else. So early on. I kind of learned the hats I like to wear and the ones I didn't like to wear. What got me passionate about something and what didn't. And I gravitated towards those situations that allowed me to have those interactive relationships with whether it be customers or vendors or whatever. And and so I stopped teaching after three years because basically, the school administration gave me an ultimatum they knew that I had a interest in the retail sporting goods store that was growing rapidly. And they said, Paul, we'd like your teaching. We'd like to keep you here. But we understand that your attention is divided. You've got to make a decision. And so basically, in my early 20s, they helped me make that decision. And I decided I really enjoyed the business world. And so I went that route
Sabine 4:11
this is really the beginning of your entrepreneurial journey. have can you think back at a time that you really had to face a big challenge in your business life? And that was probably nerve racking. Was there something like that or did you just sail through very smoothly?
Paul 4:36
There was no selling involved except the kind I did on the war. There was there were there are pivots all the time there are challenges always being presented, whether working for a company deciding whether or not that's what I really liked doing enjoy doing and was getting out of it. What is would contribute to my growth path and career path, both personally and financially. But, you know, if there was one thing that that happened that may have, well, like I said, there are multiple pivot points. After three years of going to tennis businesses, a family friend, who saw what I was doing asked me to come work for him for his company, because he was at a at a juncture where he wanted somebody with what he saw with a kind of independent skills that I possessed in growing my stores, and he wanted me to join his company and he made me the proverbial offer I could not refuse. And my partner accepted a buyout where I was able to sell my interest in my sporting stores to my friend and partner at the time. And I went off to on this next journey of mine, which was really the next second path or third path after teaching to my sporting goods store, to being a manager and a salesperson for this jewelry manufacturing company. And I was making more money than I could have thought of I was I was doing really well. I was working very hard two weeks traveling a lot. visiting customers and then two weeks managing factory and overseeing orders. I was learning a lot about manufacturing, distribution, managing people, and I was learning more about the things I enjoyed doing the things I didn't enjoy doing. Once again gravitating to those relationships. I enjoyed the sales process. I enjoyed marketing, finding customers, and then engaging with them. And so after two years with this company I had that I received a bonus from them at a Christmas time which was very generous at the time. And like I said I was doing very well I was still in my 20s making more money than I really thought I would be making had a very good life as busy as it might have might have been with the work environment. But I also know that the owners and the company as soon as I was aware of the finances, they benefited tremendously as well as they should because they own the company. They are the risk takers, and that's something else I appreciated and learned early on from having my own small business that I went to the owner and I said to him, I said look, I really enjoy working here. But I really think I deserve a raise even though I've been making good money and being paid fairly. And he said something to me which carried me through which is kind of like the answer to your question about you know, things that that you learn and things that help you identify the pivot points in your life, should they should they be faced the old Yogi Berra when you come to a fork in the road taking? And so at this point, I said, you know, I think I deserve a raise. And he said to me, he said Paul, I'm going to tell you this and take it for whatever it's worth. It goes. When you work for me, I will make sure you're paid more than anybody else will pay you. But know this you will never make what you think you're worth. If you don't work for yourself. And so I took that to heart because that again, exemplify that whole aspect of risk taking. You could win you could lose when you take risks, but if you're but if a company succeeds you you you are going to and you will benefit more than you would otherwise. And so I took that to heart and I quit.
Sabine 8:27
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Paul 10:39
I quit the job and I ended up going to work for a competitor of his that allowed me to work for half the time doing only the sales part of the job not any of the factory manufacturing distribution, employee management part of things that I was doing so I worked two weeks a month traveling around engaging customers doing sales and then the other two weeks. Basically I was off just waiting and planning my next two weeks of customer journey. So that was a very successful venture that allowed me to make enough money to put aside and then go to my next venture which after I got tired of the traveling, which started wearing on me. I had another friend who was in the restaurant business and he wanted to he was in the bar business and he wants to have a really nice upscale restaurant that he had designed in his mind. And he asked me if I wanted to become involved with him. Not because I knew anything about restaurants. Unlike a lot of doctors and lawyers who go out to eat and think they can be in the restaurant business. Nothing could be further from the truth. I don't I don't suggest people do that. Just because you eat out. You can't be in the restaurant business. And but I stayed in my lane. I knew what I liked doing. I liked the whole aspect of identifying maybe the location and the business aspects and dealing with the vendors. And dealing with the customers having absolutely nothing to do with the food and beverage part of the business. That was my partner. And it was a good it was a good marriage. It lasted 12 years we built the restaurant that in 1979 that I feel very, very proud about even though I exited in 1990 About 12 years later. That was it was a great success for me, both financially personally and any other kind of business was it
Sabine 12:24
What kind of restaurant was it an upscale seafood
Paul 12:28
steakhouse about 75 miles north of New York City and it is still open today. So we're talking 2144 years later for a restaurant to be in business 44 years is pretty impressive. And again, I was only in it for the first 12 of those years but I found that it and the menu and the concept that we developed still there in place today and I learned how to 10 bar and I learned how to cook then I learned how to wash dishes. And I did all those things because that's the way that I am about something. But that wasn't the job that I had with that business. I dealt with the people for the most part and the vendors. That's what I enjoyed doing. And you have to learn early on what hats you like to wear and what hat you don't like. Absolutely and when I sold that business, yeah, when I sold that business, that's when I went on and that's at a point shortly thereafter, is when I founded my software company because I kind of went back to my math roots to decide what I wanted to do in my next phase of life.
Sabine 13:26
Talking about the next phase in your life. I see from our conversation, you you got the entrepreneurial bug so to speak, and we're always looking for new opportunities growing out of the one business and to an next business. With all of that said I kind of have the feeling you are you can can be I don't know if you are like a workaholic, you're really focusing on the business. But we also know life and business has to be imbalanced that your personal life and the business. Did you see or did you have an experience that your business life took over and you had challenges in your personal life, either health relationship or whatnot?
Paul 14:20
Sabine it's a great question. Probably one better asked of my wife than me. You know, God bless her are married 30 years now. She's put up with an awful lot.
Sabine 14:31
Congratulations.
Paul 14:32
Thank you. Congratulate me and please give her all your sympathy. So she she's put up with a lot. And because I get passionate about something and then you know, I may may want to pivot and do something else and and I don't want your audience or you to think that this was a trajectory in my life. There was that took those 12 years that were very successful in the restaurant business. I relocated from New York to Florida because I wanted to play tennis more. And I wasn't working that much in the restaurant. My partner, it was functioning just fine without me really. And so my parents really look retired and moved to Florida. So I decided to follow them and not only to be near them as they were aging, but also because financially I was able to afford to to be where I wanted to be. And I wanted to be someplace I could play more tennis. So I moved to Florida, but then when I got there after several months, I said well what's all going to do when he grows up and had to figure out what I wanted to do in the most recent successful thing that I did was the restaurant business. So I opened up a restaurant in Florida, in Delray Beach, Florida. That was a beautiful restaurant kind of copying my restaurant in New York. But I wasn't very smart or wise about the market and the research and also the partnerships I developed in creating this restaurant. And so what I made in 12 years in New York I lost in one year in Florida. And it was a it was a situation that result in bankruptcy. And, again, I don't say that proudly or negatively. I say that because that was just the circumstance the way it was. And that's when I have to back fail. That's when I bounce back to my roots of the education and the mathematics and computers.
Sabine 16:13
I let me let me interrupt you right there because I think this is a very important point for for my listeners to understand. And that goes back to the advice the other one of your bosses gave you to say, hey, go in your own business, you will get all the rewards, but you also have to carry all the risks. And believe me, I know what you went through because I did the same thing. I had a very successful performing art school, but then I ventured out into something that I was not really educated in, going into real estate and invested wrong time. Wrong area wrong everything basically. And I lost everything that I worked for those years. I know exactly. What you what you said. And I, too, had to go through bankruptcy. And I want our listeners to understand that. Yes, you take risks and you make mistakes. We all make mistakes. That's how we grow but I also truly believe if we don't take this as a oh my gosh, now I've failed. Oh my gosh, The World Ends no but take this as the stepping stone to our next greatest self. And I would like to know from you, Paul, when you went through there, first of all, number one, how did you feel about the whole situation? And what helped you because I'm sure losing everything that you made in 12 years is painful. How did you get through that? Time of Your Life to that pain and turn it around to make it a stepping stone for your success?
Paul 18:07
So a great observation question, Sabine. And the answer for me was very simple. I had wonderful people around me people that supported me, and not just financially although that was an element that helped me go day to day until I find my next path. But family and friends that were there to support me who were as confident in me as I was in me that I was going to get through that phase of a financial setback, which is all it was, well, that's not true. It's also somewhat of an emotional one that I like use that invested in the wrong market at the wrong time. Even though my restaurant was very successful. We have great four star reviews right at the beginning, but it was a market in South Florida that I didn't understand that well. I had people around me, people around me that believed in me. I believed in me, I figured okay, this just didn't work out what's next. And I looked for different, different avenues to explore. You know, some things were presented to me some things I looked for, which is really where I am today and actually the last 30 years looking for different opportunities to go back to your original point and question about you know, the not and this as well, about the having the people around you so I had my wife she when she sees me these days, and over the last 20 years or so, as companies were approaching me to market and serve and support their products with trying to help them grow. I would I would look at it first and make sure it was something I could get passionate about. And that I would believe in so that I can really get behind it because that was absolutely number one important to me before I took on a job or invested in something. And so when I would typically be in my home office, which is where I am today talking to you and your audience, and I would call into the other room in the house and I deal to Maureen my wife, and I say Hey, honey, come here. Come take a look at this because I found something that was interesting to me. Well, invariably, she learned over the years not to come into my office and said she would go ahead and cut up my credit cards and hide the bank account. Because she said oh here we go again. Paul's going to invest in something crazy. But she's been very supportive over the years and this particular wall printing machine or vertical printing machine as it's called. When she saw this she kind of dug it to and again to your audience. One thing I didn't mention early on and as we become a conversation, he spent 15 seconds to 30 seconds on my company's website, the wall printer.com You'll learn everything there is to know about what I'm doing. And it was a machine that was just fascinating to me and she said, Okay, you can sell this and even though it was the same reaction you had Sabine never seen anything like it. I just figured if I could create business opportunities for people, and it solved the problem putting artwork on walls in a different way. And there was a market for it that I could articulate this to people and help them thrive in their business journeys by making a business out of this. Yeah, so so for that for that reason, you know, I look for things like that, that I can get passionate about. But ultimately, the whole journey it's because I've had just wonderful people in my network. And and that's really what I've done my whole life really is all of these jobs that I've had and all these businesses I've created or supported, had the role I've taken the hat I chose to wear because I think I was very good at it was those relationship building hats. I wasn't good and still I'm not good in the financial aspects. Still not very good in legal still not very not good. In managing hiring and firing. Although I've been blessed with a very good team. I've got 15 people working for me. Let's see,
Sabine 21:59
that's what it's all about. You don't have to be a master in every aspect. But if you have a good team around you that can handle that. Hey, that's all you need. You are the creator. You are the one with the ideas.
Paul 22:17
What makes a good leader. It's very simple. It's somebody who's smart enough to hire the best people to do a job but wise enough to back off and let them do it. I love it. I love it. And so people people who think that they can do everything, you know, maybe you can Okay, but that doesn't mean you should know business. I mean, I couldn't possibly support the customers. We have 120 customers today. I've got a team of three people that deals with the customer and technical support. Even though I know everything there is to know about the machines and how to service them. I can't be doing that and also having a conversation like this with you or a potential customer. I can't be doing the social media marketing and video production necessary to let people know what is a vertical printing machine or a fluid printing machine and create those ads in him deliver the message so to speak of what this business opportunity can offer. And so people are doing that that are better qualified than I am and I just back off and let them do it right and hopefully try to keep it all together.
Sabine 23:20
So that was a very insightful conversation. If you could leave our listeners with like one or two tips or pieces of advice that would help them get through a, you know, challenging situation. What would you tell them?
Paul 23:46
Don't look within yourself and look to your network. Look, you know, just seek counsel. And what I mean by that. I don't mean necessarily psychological counseling. I mean, seek counsel from people you trust. For whose opinions your value, you know, tell them what your situation is, be honest. And tell them either what you think you'd like to do or why something may have not gone the way you wanted it to or what you're looking for. And and then just you know, leverage the network you have yours whether you think you have a network or not. You do there's got to be somebody out there with a family or friends or colleagues current former that understand you maybe better than you understand you and so take for granted the fact that somebody else is happy to offer that you know, there's the same be Be nice to the people you see on the way up because they're the same people you're going to see on the way down.
Sabine 24:48
I like that. Thank you Paul for sharing your story tips and wisdom with our listeners today.
Paul 24:55
Thank you for being I appreciate the opportunity to talk to you and your audience.
Sabine 24:58
That was my interview. And if you enjoyed it, give us a five star review. Leave a comment and share it with your friends. Thanks for listening until I see you again. Always remember. So from the heart. Follow your passion to live the life you imagine.
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