Interviewing two (2) business owners or managers
Interview two (2) business owners or managers. One should be a "Hairstylist" (owner) and the other should be a "Chef" (manager). You will need to ask at least 10 questions and responses of each business owner/manager that relate to what they have learned or “wish they knew” when they first got into the business.
First, give an Introduction of each interviewee and their company.
Questions you may consider adding/reconstructing: (total questions must be 20) that is 10 each.
How long have you owned your business? What inspired them? what are the primary things you wish you would have known before buying/starting your own business (or if a manager, then managing a business)?
What was your biggest obstacle in starting, buying, or managing a business?
3. What was your biggest obstacle in starting, buying, or managing a business?
4. (If it is a business owner) How did you get funding for the business and do you have a business plan?
5. How is the current economy affecting your business and what are you doing in response? 7 What are things you do to continue to learn and grow the company or yourself?
7. What are your most significant challenges on a day-to-day basis? What are the biggest rewards? Are there any future growth plans for your business?
8. What advice do you wish would have listened to that you would like to pass on to others? What are your biggest concerns about the future? (‘future’ is a subjective word; this could be 5 months or 5 years)
Summary Focus:( discuss your views after the interview)
1. Compare the similarities between the interviewees, their companies, and their responses.
2. Contrast the differences between the interviewees, their companies, and their responses.
3. What are the key factors that have made each company successful?
4. What factors have hindered the company?
5. What was the most surprising thing you learned about business in the interviews?
Sample Solution
Interview 1: Hairstylist - Brenda Lopez
Introduction: Brenda Lopez is the owner of "Blazing Scissors," a trendy hair salon located in a bustling downtown area. Brenda has been passionate about hairstyling since she was a teenager and has been running Blazing Scissors for the past 7 years.
Questions & Responses:
- How long have you owned your business? What inspired you? "I've owned Blazing Scissors for 7 years now. I always loved hairstyling and knew I wanted to create a space where clients could feel pampered and express themselves through their hair."
- What are the primary things you wish you would have known before starting your own business? "I underestimated the amount of paperwork and business management involved. Knowing more about accounting and marketing would have been helpful."
- What was your biggest obstacle in starting your business? "Securing funding was a challenge. I had to rely on personal savings and a small business loan."
- How did you get funding for the business and do you have a business plan? "Yes, I had a basic business plan that helped me secure a loan. However, I wish I had consulted a business advisor for a more comprehensive plan."
- How is the current economy affecting your business and what are you doing in response? "The rising cost of salon products has impacted our profit margins. We're offering more budget-friendly service packages and focusing on client retention through loyalty programs."
- What are things you do to continue to learn and grow the company or yourself? "I attend hairstyling workshops and conferences to stay updated on trends. I also encourage my team to participate in continuing education programs." 7. What are your most significant challenges on a day-to-day basis? What are the biggest rewards? "Staffing can be challenging, especially finding qualified stylists. However, the biggest reward is seeing happy clients leaving the salon feeling confident and beautiful."
- What advice do you wish would have listened to that you would like to pass on to others? "Don't underestimate the importance of a solid business plan and financial projections. Be prepared for the long hours and unexpected challenges."
- What are your biggest concerns about the future? "The rising cost of living might impact consumer spending on discretionary services like hair salons."
Full Answer Section
Interview 2: Chef - Michael Chen
Introduction: Michael Chen is the manager of "Umami Fusion," a highly-rated restaurant offering a unique blend of Asian and Latin American cuisine. Michael has over 15 years of experience in the culinary industry and has been managing Umami Fusion for the past 3 years.
Questions & Responses:
- How long have you been managing this business? What inspired you? "I've been managing Umami Fusion for 3 years. I've always loved Asian and Latin flavors, and I wanted to create a restaurant that offered a fusion of these delicious cuisines."
- What are the primary things you wish you would have known before managing a business? "I didn't fully understand the complexities of managing staff, inventory, and maintaining food quality standards."
- What was your biggest obstacle in starting your business? (As Michael is a manager, we can ask about the biggest challenges he's faced) "Maintaining consistency in food quality and service has been a challenge, especially with staff turnover."
- How is the current economy affecting your business and what are you doing in response? "Rising food costs have squeezed our profit margins. We're focusing on minimizing waste, negotiating better prices with suppliers, and offering seasonal specials."
- What are things you do to continue to learn and grow the company or yourself? "I attend food shows and culinary conferences to explore new trends and techniques. I also encourage my chefs to experiment and develop new dishes."
- What are your most significant challenges on a day-to-day basis? What are the biggest rewards? "Staffing and maintaining a positive work environment can be challenging. However, the biggest reward is seeing satisfied customers enjoying our food and the positive restaurant reviews."
- Are there any future growth plans for your business? "Yes, we're planning to expand our outdoor seating area and potentially open a second location in a nearby suburb."
- What advice do you wish would have listened to that you would like to pass on to others? "The restaurant business is demanding and requires long hours. It's crucial to have a passion for food and a strong work ethic."
- What are your biggest concerns about the future? "The rising cost of living and potential labor shortages in the hospitality industry are concerns."
Summary & Analysis
Similarities:
Both