Q1) Kindly give our readers an introduction to your business. Please include what your business is all about, in which city you are located and if you have offices in multiple locations/ cities?
Ans: SolderX is an innovative new company powered by three decades of experience that is focused on building the absolute best custom control wiring harnesses and pre-wired components for electric guitars and basses. We’re located in Greenbrier and Bella Vista Arkansas.
Q2) Kindly give us a brief description about yourself (it should include your brief educational or entrepreneurial background and list some of your major achievements)?
Ans: I, Jimmy Darr, am the owner and operator of SolderX, with over 30 years of experience in the musical merchandise industry. Throughout my career, I was fortunate to work under entrepreneurial mentors who inspired my own passion for running a business. From 2009 to 2022, I built my previous employer’s project, 920D Custom, from the ground up between the years 2009 and 2022. The extensive knowledge I gained from that experience, combined with my strong desire to be self-employed, motivated me to launch SolderX in 2023.
Q3) What inspired you to (start a new business venture) or (to make significant changes in an existing business)? How did the idea for your business come about?
Ans: My family was the inspiration to start my own business. After working the better part of my life for other people acquiring a vast amount of knowledge but little else, it was time for me to work towards my own legacy. I wanted to have something that my family would be proud to be a part of and proud to own. I’ve had plenty of leadership roles but never any kind of ownership. It was time for that to change.
Q4) What three pieces of advice would you give to budding entrepreneurs?
Ans: Learn everything you can about your chosen field. I studied for 30 years, which was a bit much, but I think I’m well ready for anything. Surround yourself with talented people that have positive attitudes. Help someone else come up with you.
Q5) What would you say are the top three skills needed to be a successful entrepreneur?
Ans: Attributes more than skills… Never quit. Don’t listen to negativity or let it bother you. You must have patience.
Q6) How many hours do you work a day on average?
Ans: All of them.
Q7) To what do you most attribute your success?
Ans: The willingness to try and the stubbornness to never quit.
Q8) How do you go about marketing your business? What has been your most successful form of marketing?
Ans: I have experts that advise me on marketing. Word of mouth is the best, but after a while, you must do something to accelerate awareness. It helps if you know how Google works, which I don’t, so I defer to my people.
Q9) Where did your organizations funding/capital come from and how did you go about getting it? How did you obtain investors for your venture?
Ans: I have a silent 50/50 partner and we’re 100% self-funded.
Q10) What is the best way to achieve long-term success?
Ans: I think that you must do at least one thing every day to move your company forward. It can be a baby step. It doesn’t have to be a tidal wave. You just have to push a little each day.
Q11) Where you see yourself and your business in 5 – 10 years?
Ans: In five years, I want to still be learning and growing business. In ten years, I’ll be looking for a new owner to take the business onward and upward.
Q12) Excluding yours, what company or business do you admire the most?
Ans: I admire businesses and business owners who have run the slow and steady race for years and that continue to provide relative products and services in an ever changing business climate.
Q13) How important have good employees been to your success?
Ans: It’s difficult to articulate how important a good employee is and how they should be cherished and guarded when they present themselves. Also, on the other hand, it is good to recognize and weed out the bad ones before they toxify the good ones.
Q14) How long do you stick with an idea before giving up?
Ans: It just depends on the circumstances. Months to years.
Q15) What motivates you?
Ans: My family and my desire to take care of them. I also consider my customers as family, and I want to help them in any way possible. That’s why I endeavor to provide the highest quality products.
Q16) How do you generate new ideas?
Ans: Typically, by analyzing situations and brainstorming ways to improve them. I like to simplify things elegantly.
Q17) How do you define success?
Ans: Being able to support my family and sleep peacefully at night.
Q18) How do you build a successful customer base?
Ans: By delivering the best products possible on time and on budget.
Q19) What is your favorite aspect of being an entrepreneur?
Ans: Freedom, independence, and the pressure.
Q20) What has been your most satisfying moment in business?
Ans: Every day is satisfying. I love to make new connections.
Q21) What do you feel is the major difference between entrepreneurs and those who work for someone else?
Ans: Attitude. Working for someone else is easy, until you realize that you’re working for someone else. Build your dream, not theirs.
Q22) How did you decide on the location for your business?
Ans: The whole 2019 through 2022 COVID pandemic nightmare made me realize that driving to a job in this day and age with our modern technology and conveniences is ridiculous. I have an office, shop, and killer high-speed internet on my property. Everything I need to succeed is within steps of my house. I am lucky and blessed to be in the position that I am.
Q23) Do you believe there is some sort of pattern or formula to becoming a successful entrepreneur?
Ans: The magic formula is hard work. I know that is cliche but it’s true.
Q24) What are your hobbies? What do you do in your non-work time?
Ans: Playing guitar on a live stage is hard to beat. I’m passionate about sailing and boating in general. I live within a few miles of some of the best kayaking streams in the world. Fishing.
Q25) What makes you happy?
Ans: Watching my family thrive and doing our hobbies with me.
Q26) What sacrifices have you had to make to be a successful entrepreneur?
Ans: You must be willing to take the leap and leave behind your safety net of a 9-5 Regular Joe job. It’s scary swimming in the open ocean, but it’s also very rewarding.