Walter’s life experience in Chapter 6 took him into the uncharted waters of entrepreneurship and technology. The Q & A section extracts pertinent information from each chapter of his life and presents it as questions and answers.
Q. What was the new business that Frank and Walter started?
A. Visual Sciences – to produce the new fax machines
Q. What was Walter’s role in the infant stages of Visual Sciences?
A. Business planning and getting seed money to pay for prototypes of the machine.
Q. Walter was involved in a business misunderstanding and ended up in court. How did he and Frank avoid being sued?
A. The attorneys on both sides were former Yale classmates and old friends, so they were able come to an agreement that satisfied everyone.
Q. Why did Walter take the 3M executives to England and Japan?
A. He wanted to show them the machines in action and how they were manufactured. The executives had never been outside the United States, so Walter also wanted to show them a good time, so they would be more willing to sign a distribution contract.
Q. Entrepreneurs are often identified as risk takers. Sometimes those risks can result in sticky situations, such as Walter’s and Frank’s. Do you have an entrepreneurial spirit? Are you a risk taker?