Description
Interview 2
Conduct an interview with your first Entrepreneur and write a report briefly summarizing the interview process, then providing analysis of the answers you received and the lessons you learned or conclusions you arrived to. Provide recommendations on how you can apply the received information in your own Business Plan or career in general.
Create this Report in a form of an essay. Use the Essay Grading Rubric found under the Additional Resources area. Submit by Sunday midnight, EST.
Submit your assignment to the View/Complete link below. Simply click on the link, then type in your comments to the instructor if you have any, click on Browse and attach the Word Document with your assignment from your hard drive. Make sure to click Submit to send your assignment to your instructor. To ensure that the instructor received you assignment, go into My Grades section, you should see "!" sign across the assignments you submitted. As soon as the instructor grades your assignment, the "!" sign will be replaced with your grade.
Conduct an interview with your second Entrepreneur. Feel free to utilize the questions below during your interview. Share the gained insights from your interviews in our dialogue.
- Why did you want to start your own business/purchase a franchise?
- How did you get started?
- What were the biggest obstacles you had to overcome to get your business going?
- What lessons have you learned upon establishing your company?
- How has your faith played a role in your success?
- Where and how do you see yourself in five or ten years from now?
- What advice can you give to others so that they too can become successful business owners in their own right?
- What tools or knowledge would be critical for students wanting to start a business?
- Would you be willing to share your story with other students in the future?
Explanation & Answer
Attached.
Running head: INTERVIEW
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Interview
Name
Institution
INTERVIEW
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Interview
The interview process involved visiting the entrepreneurs in their business premises.
After creating a good rapport, there was a session of open-ended questions and answer where the
respondents were the entrepreneurs. The interview involved two entrepreneurs who were
scheduled at different times. Both entrepreneurs shared the same reasons for starting their
businesses. They all said that freedom and independence was a great motivator for starting their
own business. One of the entrepreneurs was formerly employed in a private institution and said
that he did not like the employment relationships, as they comprised his freedom and
independence. The two also mentioned that they believed that their businesses would earn them a
large stream of income than what they would earn from employment. The need for money was
also a great motivator. One of the entrepreneurs also said that it was his motivation to be an
employer of other people and be in a position to improve their lives and that is also one of the
reasons why he decided to start the business.
One of the entrepreneurs started the business using his savings from his former
employment while the other entrepreneur borrowed a loan from microfinance. The major
challenges mentioned by the two entrepreneurs' involved limited capital, high level of
competition from other players in the market, and lack of skills. Some of the lessons learned after
the two entrepreneurs established their businesses are that businesses may take time to grow and
patience is key. Another lesson is that a businessperson must agree to take calculated risks to
exploit opportunities. One entrepreneur also mentioned that business secrets must be highly
protected as they can lead to loss of an opportunity, which may cost a business highly. Both
entrepreneurs mentioned that faith took great role helping them achieve what their success. Both
entrepreneurs were optimistic that their companies would have grown global within the spread of
INTERVIEW
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one decade. One entrepreneur also mentioned that he hopes to employ additional one thousand
employees in the company. The other entrepreneur ment...
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