What is Andy Wilson’s primary motivation for leading an entrepreneurial life?
Andy Wilson’s entrepreneurial desire was motivated by the boredom that came from living the routine 8 -5 cycle in the suit-and-tie environment of corporate America. Having worked in investment baking for seven years, Andy wanted something that would bring more meaning to his life; he was compelled by the desire for personal satisfaction, financial freedom, and independence. The corporate America routine did not guarantee him that, and he, therefore, opted to quit his job and venture out to find fulfillment for his entrepreneurial desires elsewhere.
Initially, Andy was not exactly certain of what business he would venture in. The Duck Tour conducted outside his hotel in Memphis, and the long line of trolleys filled up with tourists in Boston prompted the idea of starting a tour and travel venture around Boston. This market gap further motivated him to start Boston Duck Tours. He conducted a feasibility test of the industry and termed the existing services offered as “such a pathetic experience.” In his view, the existing gaps in the tourism industry was an opportunity that had to be exploited. Andy’s motivation to venture into entrepreneurship was, therefore, drawn by the quest to be his boss and the window of opportunity that presented in Boston’s tourism industry.
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What kind of entrepreneurial venture is Boston Duck Tours?
Boston Duck Tour is a scalable entrepreneurial venture operating in the hospitality and tourism industry. The company has a high potential for scaling up and expanding its operations within and out of the state and overseas, thereby impacting on the tourism and hospitality industry globally. As it is depicted in the case, Boston Duck Tours’s operations were dismal in its first years of operation, but the number of tours and passengers gradually grew leading to tremendous growth of the company.
The venture was based on an existing idea which Andy improved and expanded on. The business that was considered impractical and looked down upon my many scaled up into one of the most popular and influential ventures in the global tourism and travel industry.
Describe the competitive advantage of Boston Duck Tours.
There are several factors that contribute to the competitive edge of Boston Duck Tours over similar ventures. The company started by using world war amphibious vehicles which had historic meaning. Using these vehicles imparted a semblance of history and a special feeling of adventure to their passengers. The company also offered educational and historic tours both on land and in the river, unlike most of their competitors who offered the tours only on land. The Boston Duck Tours drivers stood out from the rest of the drivers, who are depicted in the case as being colorfully decorated.
Boston Duck Tours is becoming well established in the city and many parts of the United States well ahead of their competitors. Andy’s idea was the first to materialize in a major city, despite the ridicule and opposition he faced. In the world of business, a company or product line that establishes first and gains popularity within the population it serves always has a competitive advantage over others that come up after it. Most people will not have the resilience to undergo the obstacles that Andy faced while establishing his company. These obstacles limit the competition for the company.
What characteristics of successful entrepreneurs does Andy Wilson embody?
A successful entrepreneur has to demonstrate a set of desirable attitudes and behavior to mitigate the challenges of the entrepreneurial world. Andy was committed and determined to see the actualization of his idea. He faced ridicule and derision even from government officials he sought his business permit from. He never gave up, even when he was told that building a skyscraper at the center of Boston Public Garden would have been a more tenable idea. Andy had an eye for opportunity, seeing and grasping an opportunity where no one had seen it. Being a successful entrepreneur requires one to generate unique but feasible ideas, just like Andy did. This involves realizing an opportunity where others have not.
Andy had effective leadership and management skills. He effectively employed and managed people despite the challenges his venture went through. During the interviews, he opted not to use the traditional interview skills so that he could get to see the practical skills of the applicants. These management skills enabled him to steer his company to success. He was also a risk taker, investing 30,000 dollars of his own money in an idea he was not sure it would pay off.
