Solution-Name of the entrepreneur, Each student is to

Purpose:

The purpose of the assignment is to give you first-hand knowledge concerning the benefits and problems of entrepreneurship.

Procedure:

Each student is to interview an entrepreneur of his or her choice. The entrepreneur should be someone who has started a business. It would be better if the person interviewed is still involved in the business, but it is not mandatory. The entrepreneur may be a stranger, acquaintance, friend, or relative. Please ask the questions provided and probe for complete answers.

Written Report:

A written report

Demographic data: Please provide the following demographic data for the firm. Note: If the entrepreneur doesn’t want to provide certain information, it will not be a problem.

1. Name of the entrepreneur.

2. Name of the firm.

3. Description of the business.

4. Age of the business

5. Number of employees other than the owner (optional).

6. Approximate annual sales (optional).

Answers to the questions: Please provide the entrepreneur’s answers to the following questions. You may summarize hisher answers, but make sure it’s complete.

1. Why did you decide to start your business?

2. What was the biggest problem you faced at the startup?

3. What has been the most rewarding aspect of owning the business?

4. What is the biggest problem you face operating the business?

5. What has been the worst drawback of owning a business?

6. If you could do it all over again, what would you do differently?

7. What advice would you give someone who is considering starting a business?

8. What characteristics or traits do you think an individual must have to be an entrepreneur?

Summary section: The final section should be summary of what you have learned. This is an important section so make sure it’s complete.

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