An entrepreneur is one of many hats Eric Whitehead gate. As owner and CEO of PTG365, Price Too Good 365, a luxury car dealership, he is an automotive specialist and master of convenience. Whitehead is a young millennial who built a $10 million business through his passion for luxury vehicles and innovative thinking. Mulatto, 50 cents, IT, Gucci Maneand Keyshia Kaoir Davis are just a few of his famous clients.
PTG365 offers a wide range of vehicles, from luxury to everyday, and although the dealership has a physical location, they can deliver cars to your doorstep. As Whitehead grows and rebrands his business, he wants to offer advice to others who want to explore similar avenues of entrepreneurship.
BET.com had the pleasure of interviewing Whitehead. Here’s what he had to share:
BET.com: What is the inspiration behind PTG365?
White head: I have always had a passion for cars from a young age, especially exotic and luxury cars. In high school, I had a mentor who was a CFO in the auto industry and he was successful. At 17 I started selling cars and made about $100,000 which changed my life. I have always been an entrepreneur and wanted to be my own boss. I wanted to do something to create a legacy for my family.
BET.com: What was the build process for PTG365 and did you have any setbacks?
White head: Others see successful people and only see the product of their labor. They do not take into account the difficulties linked to the creation of a business. I go through trials and tribulations every day because I have to learn so much on my own. I have no one to advise or help me through the process of owning my own dealership. When I worked for employers, I didn’t have to worry about the operations of running a business and I loved that. But it occurred to me that I was working hard for someone else’s dream instead of my own. As an entrepreneur, I put one hundred percent of my energy into myself. You should always remember your goals and that there is always light at the end of the tunnel.
Bet.com: How are you revolutionizing the automotive industry?
White head: Technology is advancing rapidly and you cannot fall behind in any industry. Being futuristic allows my business to stay ahead of the curve and keep up with the times. For example, I started my business delivering cars to people’s doorsteps with a red bow tied around them. I was ahead of the curve and when the pandemic hit and people didn’t want to come into the dealership, I continued my model of delivering cars to homes and allowing customers to communicate with us virtually. I also developed an application called Cars365, which offers digital auto sales from the comfort of your home and phone. It is also a car concierge service. People don’t remember their vehicles being serviced, so I developed a system for my app that stores all your vehicle details: interest rates, down payments, plate renewal dates, VIN numbers, etc. . You can also store your driver’s license, title, insurance card and vehicle contracts. My app simplifies the process of buying and owning a car and it’s free.
Bet.com: How do you balance the responsibilities of being an entrepreneur?
White head: I created the idea for PTG365 and included my former associates, Brandon Medford and Dave Obaseki. You feel comfortable when other people are responsible for certain parts of a business. Now that I don’t work with those guys anymore, it’s more difficult because I have greater responsibilities. I’m reorganizing and restructuring the company, while balancing my personal life – I’m engaged now and scheduled for different TV shows. I try to work smarter not harder and enjoy where God is leading me. I eat healthy and stay hydrated so my brain can focus. I’m not afraid to ask for help and I’m a strategic thinker. These are traits that help me learn a lot and deal with everything day in and day out.
Bet.com: What three tips would you give to young black people who want to start and maintain a business?
White head: First, the process is 80% mental and 20% physical. The hardest part of starting a business is focusing your mind on the goal. Once you focus on the task at hand, running your business becomes easier. During your journey, you will lose friends and family. People’s intentions will not always be pure and they will have many motives. But you can isolate yourself from any negativity and focus on your goals. Gaining and maintaining success will be difficult, but don’t give up.
Second, you have to learn to be the best you can be and show yourself every day. Read lots of books and stay tuned to what’s relevant in the world. Follow podcasts, videos, and shows about business and current affairs. These things can take you to the next level.
Finally, networking is essential because people cannot run a business alone. Some people like to brag about being “self-made”, but you are never self-made. From cleaners to drivers to business partners, there are always people helping you along the way.