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Entrepreneurs: Dan Magnuszewski offers a new way to auction cars

Who: Dan Magnuszewski, co-founder and chief technology officer, ACV Auctions

What he's doing: ACV Auctions built an online marketplace for new and used car dealerships to buy and sell inventory directly to each other, bypassing the need for a physical auction. The company was the $1 million grand prizewinner of 43North's 2015 business plan competition. Since its inception in late 2014, ACV has grown to nearly 200 employees and raised $21 million in venture capital.

Why he defines the entrepreneurial spirit: Magnuszewski is focused on solving problems with a drive to take the necessary risks to make it happen. Many people have ideas, he said, but few are willing to make sacrifices to make it happen.

Advice for the new entrepreneur: "Really study the way the world works and ask: How are you doing your job on a daily basis? How is your current company trying to solve those problems? Then try and solve that problem from a completely different angle. Most people get locked into how things are done, and not questioning if there is a better, completely different way of solving a problem or achieving a goal."

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