Entrepreneurship

April 23, 2005

Entrepreneurship

Bill DarleyCEO, W.S. Darley & Co.

Ethics – Good or Bad

Duck Hunting –

…what’s that got to do with ethics?

Examples in my “business” life

What’s in it for me? Fire truck – local fire district purchase. Williamsburg, Iowa – final meeting with

the mayor. China – portable pump certificate 320 Air Force Fire Trucks – recall

Examples in my “business” life, contd..

Costa Rica – Machine Guns Russia – 1000 bulletproof vests Egypt – “We want women” Selling family stock – My brother Darley – world’s largest municipal

supplier. Lu Long - $90 cab ride – Welcome to

Chicago!

Personal Ethics / Integrity

Definition: “doing right when there is no one to make you do it but yourself.”

Golf – no one knows but you. EEC- $50,000 – just a handshake. Don’t equate ethics with the law! New / Veteran Police drug officers – plant

drugs on suspect – What do you do? Nephew – I changed his life – game

violation Waiter – cash – “I have to pay tax”

The Four Way Test of things we think, say, or do.

Is it the truth? Is it fair to all concerned? Will it build good-will and better

friendship? Will it be beneficial to all concerned?

Social Entrepreneurship Without profit – difficult challenge. Examples of Darley’s sharing.

Dominican University – Trustee - $$$, time, talent.

IAFC Foundation – Giving back to those we serve.

Board member Catholic Charities – homes for the homeless; golf event.

Year end gifts to over 30 charities Community service – all employees encouraged

to support their community organizations. National Fallen Fire Fighters Foundation.

Social Entrepreneurship contd…

Move from Chippewa? Where? Philippines – Orphanage – Asked to be

involved. Katmandu – Jesuit mission Philanthropy – Where it began? – Silver

dollar – Altar/IRS Mentor – Latino 17yr old. Corporate trust fund established. Haiti – drinking water - $500 - Peter

W.S. Darley & Co. Blessed with what we do.

Saving lives – testing fire fighting pumps for 100% reliability.

W W J D

April 23, 2005

EntrepreneurshipSo you want to be an entrepreneur !

Bill DarleyCEO, W.S. Darley & Co.

However•Can change lives•Build businesses•Create wealth

Has required passion & enthusiasm in my life.

The Beginning

Henry Ford 1933 - $695 vs. $5,000 Darley loses Pump supplier ! Challenger & Monarch – You can’t

market Fire Apparatus that way! Build your own Fire Apparatus – we

will help – developing countries market

Entrepreneur - Sales

Working the aisle. You sold what ? - Dolphin Pump Our company vehicle led what

parade? Food advice when in China – sparrows

– ok to spit out the beak.

Entrepreneur – Pump

World’s fastest priming centrifugal pump.

Lifetime warranty. Heart of the Apparatus. 30 day free trial

Entrepreneurship – Fire Apparatus

Poly Body – light weight, no corrosion, no factory.

CAFS (compressed air foam systems) – Safer – Newton’s law – high rise

Top Console – traffic – electrical – visibility. Disney – EPCOT – Where’s the Fire? –

Asking (offering opportunity) to vendors.

Entrepreneurship - International Fire Apparatus

Developing countries – Build your own concept – now 130 doing it.

New Zealand 0 to 984 – Three stage – Darley 943

S. Africa – Zulu – ugly American S. Africa – Bullet proof vests for Fire Service

opportunity. How did I get out – Bordello – Guatemala

city.

Entrepreneurship - General

China – 1982 – tie class – business cards. Fire Apparatus Manufacturers’ Association – from

first meeting to president – why? – to change. Catalog participation $ vendors. What would you do ? – 3 a.m. Moscow Never miss visiting fire department when on business

or vacation. Aruba – My friend Bill Darley British Virgin Islands – 1 hr. - Fire - 3 Fire Appliances Cairo – Hand-in-hand – My friend Take my heart – Vatican – St. Peter’s Square

Entrepreneurship Corporate

Succession plan – 24 yrs – 3 leaders – 3 days

Profit sharing – not just a watch Darley Times Internship – Mexico – S. America – Poland –

China (William 3 yrs old) Core of Engineers – waste (in my opinion) –

action President U.S. Ivory Coast – President’s Lady – What will

you leave for your legacy?

Bill Darley – Killed today in auto accident.

Outside Board of Directors members – 22 year decision, but the right one.

I Said What ?

Nose in, Fingers out !