Hobbies and interests
Business And Entrepreneurship
Saxophone
Accounting
Cooking
Biking And Cycling
Artificial Intelligence
History
Geography
Walking
YouTube
Reading
History
Business
Cookbooks
I read books multiple times per week
William Farrow
1,175
Bold Points1x
Finalist1x
WinnerWilliam Farrow
1,175
Bold Points1x
Finalist1x
WinnerBio
Transfer Student at Sonoma State
ATM Entrepreneur
Saxophonist
Education
Sonoma State University
Bachelor's degree programMajors:
- Business/Managerial Economics
Diablo Valley College
Associate's degree programMajors:
- Business Administration, Management and Operations
Miscellaneous
Desired degree level:
Bachelor's degree program
Graduate schools of interest:
Transfer schools of interest:
Majors of interest:
Career
Dream career field:
Entrepreneurship
Dream career goals:
Camp Counselor
Adventure Day Camp2019 – 20201 yearTeam Member
Chick Fil-A2020 – 20211 yearServer
Bay Clubs2022 – Present2 years
Sports
Lacrosse
Varsity2018 – 20213 years
Awards
- Defensive Excellence
Arts
College Park High School Jazz Ensemble
Music2018 – 2021
Public services
Volunteering
First Tee — Educator2017 – 2019
Future Interests
Advocacy
Philanthropy
Entrepreneurship
Colby R. Eggleston and Kyla Lee Entrepreneurship Award
WinnerIn 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.