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BIG X / EXCELSIOR HENDERSON
"It has taken from day one until today to find and acquire them all,"said Dan.
Were there any problems in acquiring them? Several people had tried -and failed- to use the trademarked name on t-shirts and other things. "After a few legal battles, we now have the mane in solid control. Some of the rights holders thought about reviving the name, but did not know how to preserve it or track it through tightly enough," Dan said.
In 1993, Dan sold his environmental business and jumped into building Excelsior-Henderson full-time. A year later Dave also joined in full-time. They did not have a plan at first, just instinct an idea and a basement office. (That sounds like a true entrepreneur to me). Dan and Dave both put their Harleys in hock to the local bank to get some start-up money. Dan explained that "a biker will make a payment on his bike before he makes a payment on his house." I wonder if their wives knew this?
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They did not draw salaries for almost two years after going full-time. They relied upon family and friends for the capital they needed to keep things forging ahead.
I was interested to know how they felt about doing business with family members on an extremely risky start-up venture like this. The family members approached them about investing. Dan and Dave really did not ever bring finances up around them. Before any money exchanged hands, ground-rules were set. It was fully explained that there was a very likely chance they would never see this money again, due to the risk of their venture. Secondly, everyone was aware that if they did loose some or all of their money, Dan and Dave would not be held a grudge upon and they would be able to spend holidays and family gatherings together and be the same close family they had always been. With the air cleared in this matter, Dan and Dave accepted the funds and treated it like any other business transaction with contracts and such. Out of eight siblings, seven are invested in the business.
Speaking of family involved in business, I inquired on how well Dan and Dave work together. It was easier since they worked the family farm with each other [next page]