OEI Alum purchases ownership shares in Spencer Company
Thursday, February 11, 2021
Perseverance and passion are two attributes that describe Andrew Pauley, a 2017 OEI alum and a new part-owner in Specialty Archery L.L.C. in Spencer.
Pauley started his first business at the age of 12, which kick-started his love for business. In college at Iowa State University (ISU), he started a new business venture, U Conceal It. “I knew the best way to learn would be to start a business and immerse myself in the business process,” said Pauley.
Throughout his time at ISU, Pauley had many opportunities to learn, including being accepted into the 2017 Okoboji Entrepreneurial Institute.
Going into the week-long experience at OEI, Pauley made a point to personally speak to as many of the OEI leaders and speakers as he could to exchange business ideas, listen to advice and grow professionally, even if meant getting him out of his comfort zone. “If I could share two things with future OEI students, it would be that the people at OEI want to get to know you, hear about your business interests and are motivated to help you succeed in the business world,” Pauley shared. “Secondly, investors don’t invest in businesses, they invest in the people to run the business.”
Through the week of OEI, Pauley met two people who have become mentors to him as he has continued his career. Pauley’s host for the week was Barry Sackett, who inspired him to start training for his first Ironman Triathlon. “During the week of OEI, I would run with Barry each morning while we shared running stories and business ideas. I also listened to business challenges, advice and how I could apply those lessons to my own future career goals” Pauley said. “I learned to set myself up for success both personally and professionally.”
During the networking events throughout the OEI week, Pauley made an effort to ask the people he talked to who else at the event he should connect with that share similar interests or experience. Bruce Tamisiea was one of those individuals, and Pauley took the opportunity to seek Tamisiea out.
Through their conversations and common interests, Tamisiea and Pauley stayed in touch even past the week of OEI, and Tamisiea brought forward a business opportunity to Pauley. That business was Specialty Archery L.L.C.
Purchasing shares of Specialty Archery L.L.C. in January 2021 brought Pauley back to the Lakes Region of Northwest Iowa to live and work, a place he had previously only visited through OEI. What brought him back was the beautiful lakes, the people of the region and their core values, and his passion for this business.
“Specialty Archery is a perfect match,” Pauley shared. “I’ve been shooting archery and competing in tournaments with my brother my whole life. This is my dream job.”
The purchase of partial ownership of Specialty Archery L.L.C came after staying in touch with Tamisiea and Sackett for the past three and a half years. These two mentors in Pauley’s life have taught him valuable business lessons because of their willingness to share the challenges they’ve had and the lessons they’ve learned over the years. “They help me walk through my process and help me decipher what I should be working on versus what I am working on,” Pauley said.
Going forward, Pauley is excited about the opportunities available to him here in Northwest Iowa. He has an option to buy full ownership in Specialty Archery L.L.C. and hopes to do that in the future. “I’m excited to grow as a young entrepreneur here. I have three businesses currently: one that is here, and two that could potentially move here,” Pauley shared. “There are so many opportunities to grow and succeed. I am fortunate to have found OEI and Northwest Iowa throughout my journey.”
We talked to Andrew Pauley at our February 2021 Quarterly Meeting. See a recording of the meeting here.
Category: Entrepreneurship, Business Retention and Expansion, Okoboji Entrepreneurial Institute, OEI Entrepreneurship, OEI, News Release, News, Press Release