Entrepreneur Project

Entrepreneur Project

According to Invernizzi et al. (2017), an entrepreneur is a creative and innovative person who identifies a business opportunity and takes risks to venture into the business with a primary goal of making a profit.

1. Select an entrepreneur and Create a list of ten (10) questions that you will use to interview the entrepreneur

In this case, I have chosen to interview a small business entrepreneur who has just started a mini supermarket. The list of the questions are:

1. What are the advantages and disadvantages of being an entrepreneur?
2. How do you think you and your business fit into the small business economy?
3. What is your vision?
4. How do you solve the challenges you come across?
5. Where do you see the future of this business in the next five years?
6. How do you ensure that customers get good services?
7. How do you manage your employees?
8. How do you make your business shine over your competitors?
9. What prompted you into this business?
10. Is your business worth taking risks for?

Answers for the interview

1. Being an entrepreneur has numerous advantages, among them being that one can work from any location. Also, entrepreneurship is flexible; one can set up a business in different areas and adjust their working conditions. Among the disadvantages is that it lacks regular payments as it depends on how the firm has made sales. Also, one can be too busy organizing and planning for the business.
2. Because the number of employees is few and the business does not entail many transactions and the profits are relatively average.

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3. My central vision is to propel the business and diversify in other enterprises
4. All challenges are solved through discussions with my employees. I usually ensure that all employees are free to air any grievances arising in the business so that we can retain optimum benefits.
5. In the next few years, this business will have expanded to a mega supermarket targeting customers from across the country and with a wide range of goods and services.
6. I usually treat my employees with courtesy and respect and encourage them to transfer the same to our customers.
7. I have one senior employee who monitors all the rest and encourages them to work hard.
8. I ensure that we motivate our customers with affordable prices and promotion
9. There was no supermarket within the area, and therefore, I decided to fill that market gap.
10. Yes, because the profits I get are encouraging, and any risk can be worth it because I am determined to succeed.

What made you select this entrepreneur?

I chose the entrepreneur because his business was making significant profits despite being a small business. Customers were too many, and there were very effective and efficient customer services and incentives such as promotions.

Why did you ask the questions you asked?

I inquired the entrepreneur the questions because I wanted to understand the strengths and weaknesses of entrepreneurship. I also wanted to know how he managed to survive in the minor commercial economy. Also, I wanted to interact with him freely and know his perspectives regarding the business and why he decided to begin it.

What was the most valuable thing you learned from the entrepreneur?

I learned that determination and focus is one thing that anyone who is willing to begin any venture must put into consideration.

What is the one thing you will do differently, now that you have been able to connect with an entrepreneur?

Asking  him relevant questions that will enable me to gain insights into how I can start and manage my own business rather than just asking questions to gain general knowledge.