Need to Interview Entrepreneurs for a Class Project

[matterickson]

Hello,

For a class project I need to interview entrepreneurs to get a sense of their story and why they chose to become an entrepreneur. I just need a basic introduction to yourself and if you could take the time to answer some of the questions below it would be much appreciated.

• What were the circumstances surrounding their decision?
• What problem were they trying to solve?
• What are their revenue sources and cost drivers?
• What (if any) work experience did they have prior to starting?
• What (if any) experiences or skills do they recommend obtaining prior to starting?
• What advice would you give to anyone considering an entrepreneurial career?

In the end I need to create a visualization of the responses that I get to these questions. If you would like to remain anonymous, please let me know. Thank you for taking a look at my post.

[Harold Mansfield]

Moving this over to the Water Cooler

[vangogh]

Welcome to the forum Matt. I'll do my best to answer.

My name is Steve and I'm a freelance web designer/developer. I also write a lot and make some of my money writing articles and books. I also own this forum.

What were the circumstances surrounding their decision?

I always wanted to work for myself. I enjoy the freedom and the responsibility. I never liked working for other people. I didn't always have the confidence to work for myself though. At the start of this century I worked for several tech companies who were hiring and then laying people off. I got tired of working for awhile and then being unemployed. A friend of mine was in a similar situation and we decided to start our own business designing and developing websites. Doing it with someone and just after a job where I had some money in the bank gave me confidence. Our business failed, but I took what I learned and started again on my own.

What problem were they trying to solve?

I don't know that I was solving a problem by going into business for myself. It was more a way to have control over my success or failure and be able to set up the lifestyle I desired.

What are their revenue sources and cost drivers?

I have several revenue sources. Mainly it's clients who get in touch to have me work on their sites or redesign their existing site. I pick up clients through word of mouth and being active online. I enjoy writing and began blogging shortly after setting up a site. Over the years other sites have contacted me to write for them and I've since written a couple of books to bring in revenue. I sell ads here and run AdSense on my design site to pick up a little extra each month. I'll gladly set up more revenue streams too.

I don't have a lot of costs associated with my business though I do have some. I need a computer and software. I had what I needed already when I started, but everything needs to be upgraded. I have some costs associated with hosing websites. There are costs like insurance and having a space to work in, though space will likely cost less working online than offline. There are always marketing costs.

Early on most of my costs were costs in time. Time learning and time getting the word out that my business existed.

What (if any) work experience did they have prior to starting?

I had plenty of work experience when I started, though none was really necessary. I had no working experience as a designer/developer, though I had taught myself to design and develop websites before starting. A significant part of my week now is learning to do my job better.

What (if any) experiences or skills do they recommend obtaining prior to starting?

I'm not sure if there are specific skills or experiences you have to have prior to going into business. It certain helps if you know whatever business you're entering. I would generally recommend that whatever business you want to start you should probably work as an employee in the industry first. I didn't though, so I can't say it's necessary.

I'd say the main thing is a desire to learn and willingness to change. Most of what you'll learn running a business you'll learn running your business. I think it'll help understanding how business and marketing works, but so much of what you learn will come as you're doing. Be open to a lot of confusion and chaos at first as you try to sort some things out, but over time the confusion goes away.

Mostly what you need is an entrepreneurial spirit. No matter what happens you need the confidence to pick yourself up and try again. You try, fail, and try again until you succeed. That's what's need.

What advice would you give to anyone considering an entrepreneurial career?

Go into business for the right reasons. Don't do it because you think it'll be easier of you'll make all the money your boss isn't giving you. Working for yourself is going to be harder than working for someone else and it's probably not going pay well or at all at first. I think I was working something like 70 hours a week at first for what was less than minimum wage.

Go into business because you have that entrepreneurial spirit. Go into business because you want more responsibility for your success or failure. Go into business because there's a product you wish to see existing in the world.

Once you decide you'd want to go into business for yourself do it. Take a few days or a week to plan hour your business will work. How will you make money? How will you appeal to your customers? Who are your customers and how will you reach them? Then start. Many businesses don't require much paperwork or cost to get started. So get started and started learning and keep improving your business.

Hoep that helps.

[matterickson]

Thank you so much! That is perfect.

[matterickson]

For anyone else that looks at this, I need 3 different interviews, so if anyone else has the time it would be greatly appreciated.

[vangogh]

Glad I could help. I'll try to keep responding here as well to help keep the thread active.

[Blessed]

Hello!

I'm Jenn - I'm a freelance graphic designer (print only!), and I'm a virtual assistant to two franchisee's within the same franchise system and provide "Help Desk" services for 7 events within that same franchise system. I'm a work-at-home, homeschooling mom - I only work part-time, my income simply lets us do a few extra's as a family and gives the budget some wiggle room, but I've shown a profit and had to pay taxes for seven years now - so that counts, right? :)

• What were the circumstances surrounding their decision?
I started working from home as a freelancer and contract designer for the printing company I had been with for 8 years when my first child was born. I wanted to stay home with my kids but still needed income and I enjoy the work I do - it's vital for my sanity that I maintain my professional skills.

• What problem were they trying to solve?
My husband and I did not want to put our kids in daycare and I'm passionate about education and wanted to school my kids at home. We can survive on my husbands income, but having the extra I earn every year definitely helps the family budget.

• What are their revenue sources and cost drivers?
My revenue source is my clients. I started by only providing graphic design. For a time I had a data entry job as well. The Virtual Assistant position was offered by one of my graphic design clients and we've found that it's a good fit for my skill set. Within the Virtual Assistant position I started providing "Help Desk" services as well for that clients events - other franchisee's were willing to pay for my knowledge and phone skills so the "help desk" job has expanded as well.

I don't have many expenses - computer equipment and software every few years, monthly internet and phone service. I'm at the stage where the kids are in school and I'm ready to add some new business so now I've got to evaluate what's next - and there may be some marketing or continuing education class expenses soon.

• What (if any) work experience did they have prior to starting?
I had been working for 15 years when I left the corporate world and started working for myself. Of those 15 years, 12 of them had been spent in sales, printing and design.

• What (if any) experiences or skills do they recommend obtaining prior to starting?
I think it's important to know the business you are going into - either because it's a hobby or an interest or because you've worked in the field before. Knowing the business gives you a better grasp of what obstacles and hurdles you will encounter. I also think it's important that you be willing to learn and change. Finally - know when to ask for help and what type of help to ask for. If you need to hire an accountant to keep your money straight - then do it, if you need a lawyer - hire one, if you need a receptionist or secretary - get one. The most important knowledge to gain before you start working for yourself might be to figure out what your own weaknesses are - so you can plan how to overcome those instead of being tripped up by them down the road.

• What advice would you give to anyone considering an entrepreneurial career?
Make sure your motives are right - if you're looking to get rich quick you are probably going to be disappointed. If you have ideas and you want to be able to pursue them and are willing to work hard then go for it. If you need the security of a weekly paycheck then entrepreneurial life isn't for you. If you have financial obligations - car loans, student loans, mortgages... either pay them off first or make sure you've got a cash reserve stashed away somewhere that you can live on until the business gets going. Don't be discouraged if the business takes longer than you think it should to succeed. Be willing to change your plans if what you start with doesn't work out. Network, network, network.

I hope that is helpful to you! If you have questions about my responses please let me know.

[matterickson]

Hi Jenn, thank you so much for taking the time to help me out. I really appreciate it!

[matterickson]

I just need one more interview, if anyone else could take the time to answer a couple of questions above I would greatly appreciate it.

Thanks!

[vangogh]

Do you still need an interview? Just trying to keep the thread active for you.