Questions And Topics We Can Help You To Answer

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THERE ARE TWO PARTS SEEE 2ND PART AT BOTTOM OF INSTRUCTIONS

Lesson 3— Interview Assignment
Interview with the Owner of a Small Business (30 points)

In this lesson you will begin your business plan—writing a business plan.  A business plan describes the first year (in our case) of a start up business.  To help you think about the business you are going to creatWe (your proposed fictional business plan) interview the owner of a small business.  They are everywhere and are easy to find.  It may be a farmer, the local hardware store owner, a hairdresser nearby—it doesn’t really matter.  Talking to a small business owner will help you get a feel for some of the challenges they face. 

•    At the beginning of the assignment, place the name of the business, the location of the business (address and city), who you interviewed and the date of the interview.

Ask the following questions of the small business owner.  (In parentheses there are topics from the class material.  Comment on the owner’s answers by showing how their responses relate to the topics you learned about in the course material.  For example, did they capitalize their business in the typical pattern?) 

To receive complete credit for the assignment, you must comment on how the business owner’s responses (the questions or comments in parentheses) compare to what you have learned generally about small business.  There are 15 possible points for getting answers to the questions for the owner and 15 possible points for commenting on the owner's responses.  

At the end of the interview summary, add your own brief comments about your interview overall.  Give some information regarding why you chose this particular business owner to interview.

•    Basically, what does your business do?

•    What type of business organization do you have—a sole proprietorship, a partnership or some other form?  Why did you organize this way?  (What are the benefits and negative points of the way they organized their business?)

•    How did you decide to start a business of your own?

Did you have any prior experience in this type of business—for example, work for some other business that did what you are doing now?  (Describe how this business owner does or does not meet the definition of a “crossover.” Crossovers are defined as  people who gain experience in a business, usually working for someone else, then decide to start their own business.  The pattern of an owner working for someone else, then using that experience to start their own business is common among small business owners.)

•    How long have you owned this business?  Did you start it yourself or buy an existing business?  (What would be the benefits and negatives of how they started their business—starting from scratch or buying an existing one?)

•    How did you get the financing to start/buy the business?  Specifically, where did you get the capital to buy or start the business?  (How does this owner’s method of raising capital for their new business compare with the typical model for raising capital to start a new business?)

•    Would you say you are selling a product, a service, or a combination of both?  (What do you think they are selling—products, services, combination—and why do you think that way?)

•    What’s the biggest reward you feel you receive from owning your own business? 

•    What’s the biggest challenge you face, or faced, as a small business owner?

•    Anything else you want to add?


NOTE:  When preparing your document with the answers and comments above, include only your answers in the assignment.  You do not need to repeat the questions in your submitted document.  Just be sure you have answered all the questions and made comments on the business owner’s answers as requested in the assignment.  I have included on the next page the grading sheet I use to evaluate this assignment.  Note that spelling and grammar should be corrected.  Be sure to proofread your document.

Rubrics for Interview Business Owner BADM101 (30 Points)

Answers to Questions
Responses to Questions
15 points
15 Points




Beginning of Report


Saved with proper file name
Spelling/Grammar
Name of Business
Location (address/city)
Who interviewed
Date of Interview





What does your business do?


  


What type of business organization
do you have, ie. Proprietorship, etc.
Why did you organize
This way?
Benefits?
Negatives?



How did you decide to start a
business of your own?





Did you have any prior experience?
Ex. Work for a similar business?
Is owner a 
  Crossover?




How long have you owned the bus?
Start yourself?
Buy existing business?
Benefits?
Negatives?



How did you get financing?
How does this compare
with typical model?




Selling a product?
Selling a service?  Or both?
What do you think?
Why do you think that?




Biggest reward?





Biggest challenge?





Anything else to add?








Your overall comments…






2ND PART-

Interview Blog
Use this blog to share with others in the class some of the key elements about starting a business that you learned during your interview.  Click on the title above "Interview Blog" to open the blog and make your entry.  (5 points)


PLEASE WRITE A PAGE ABOUT THAT