GrandSalamanderPerson543
Describe the general nature of the business, describe the location,…
Describe the general nature of the business, describe the location, and identify any important or unusual features.
Identify the owner that you are interviewing and briefly describe his/her role within the firm. Identify any other owners of the company. Describe the background of the owner you are interviewing in terms of education, and work history and explain how he/she decided to become an entrepreneur. Explain the main products or services of the business and identify the main customer groups that it services.
Identify any entrepreneurial abilities or traits of the owner. What does the owner think is his/her greatest strength as a business owner? Greatest weakness? Explain.
Prepare brief history of the company, indicating when it was started, and by whom as well as all of the major changes that have taken place between the start-up and now. What does the owner feel that he/she would have done differently as far as the history of the company? Why?
Report on the lifestyle of the owner indicating how many hours per week he/she works and how being self-employed affects his/her personal relationships. Explain other positive or negative features of the owner’s lifestyle.
Name, locate and briefly describe any direct competitors of the business. Name, locate and briefly describe any indirect competition. What competitive advantages does the firm you are analyzing have?
Explain any techniques used by the business for protection against theft or other dangers to which the business could be subject (e.g. security systems or policies).
Describe the image that the company projects and explain why this is appropriate for the services or products being sold and appropriate for the expectations of the customer groups being targeted.
Outline the pricing strategy that the company uses and explain why it is appropriate for what the company is selling and whom it is selling to.
Identify any advertising media that the company uses. Describe the nature and the frequency of the advertising. Attach a promotional/identifying item used by the company ie. print ad, flyer, business card, directory listing, packaging, letterhead etc.
Explain any methods or systems for ensuring quality and handling customer complaints.
Identify any professional groups or business associations that the entrepreneur belongs to and explain the reason for this membership.
Does the entrepreneur use some sort of break-even rule of thumb (sales, or number of units, or number of customers etc). to roughly gauge whether the business is making a profit? Without having to identify the actual break-even number, explain the method that the business uses. If one does not exist, suggest a particular break-even rule of thumb.
Without giving specific amounts, identify the sources of finance that the entrepreneur used to start, buy or buy into the business. Explain the reasons for these sources.
