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William Farrow

1,175

Bold Points

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Finalist

1x

Winner

Bio

Transfer Student at Sonoma State ATM Entrepreneur Saxophonist

Education

Sonoma State University

Bachelor's degree program
2023 - 2025
  • Majors:
    • Business/Managerial Economics

Diablo Valley College

Associate's degree program
2021 - 2023
  • Majors:
    • Business Administration, Management and Operations

Miscellaneous

  • Desired degree level:

    Bachelor's degree program

  • Graduate schools of interest:

  • Transfer schools of interest:

  • Majors of interest:

  • Not planning to go to medical school
  • Career

    • Dream career field:

      Entrepreneurship

    • Dream career goals:

    • Camp Counselor

      Adventure Day Camp
      2019 – 20201 year
    • Team Member

      Chick Fil-A
      2020 – 20211 year
    • Server

      Bay Clubs
      2022 – Present2 years

    Sports

    Lacrosse

    Varsity
    2018 – 20213 years

    Awards

    • Defensive Excellence

    Arts

    • College Park High School Jazz Ensemble

      Music
      2018 – 2021

    Public services

    • Volunteering

      First Tee — Educator
      2017 – 2019

    Future Interests

    Advocacy

    Philanthropy

    Entrepreneurship

    Colby R. Eggleston and Kyla Lee Entrepreneurship Award
    Winner
    In the summer of 2022, I started my own ATM business. I install ATMs for free inside local businesses and provide cash for their customers. This saves the local stores money as they don't have to pay for a credit card processor. I didn't just stop at stationary ATMs, farmers' markets, flea markets, and street festivals all have vendors that need cash. I would coordinate with event organizers and put my ATMs around vendor tents. This brought a lot more cash to people who could benefit from saving on credit card fees. Most business owners end up paying almost 3% of their revenue just to process card transactions, so a free ATM in their store can save them thousands annually. My company helps my community by empowering other small businesses. Small businesses are the charm and spark in most communities. Without local entrepreneurs, the world would just be one big Walmart. My company helps these businesses keep more of the money they make. Most people have never heard of my business model. They think I am going to ask them for rent or lock them into a contract they can't escape. When I make my money from their customers paying a transaction fee and not the business itself. More often than not I end up giving a portion of the transaction fees from my machines to the business owners for letting me keep my machine there. This surprises some, but any good location will demand this. I need to further develop my company by breaking into digital marketing. I have found all of my leads through door-to-door sales and phone calls with the business owner. If I had a way for businesses to reach out to me I wouldn't have to spend so much time cold calling. My plans for this are a website and social media marketing. It seems like the best way to get eyes on your product is through the internet, however finding a place to advertise to business owners is the tricky part. Targeted ads and social media algorithms only go so far, so I need to find what other people in my industry are doing. Another way to scale would be to completely automate my company. Currently, I am the one filling and servicing my machines. Most larger companies pay a cash vaulter to load their machines for them, making the income completely passive and hands-off. I haven't done this to increase my profit margin, but as I transfer to college I will need to complete this step. Hopefully, my school will help prepare me for more challenges I face up the road. I want to create financial plans, and even learn how to attract investors. I can't wait to leverage my college degree when I forge my path as an entrepreneur.