Task Sheet 1

An Interview with a Successful Entrepreneur

Entrepreneur’s personal background

1) How long have you been running your own business

venture?
- Almost 7 1/2 years, we started on July 9, 2017.

2) What are your good and bad experiences in your business

ventures?
- The good experience is we became known in offering
an affordable and delicious snacks here in San Andres. The
bad experience is dealing with an undependable supplier.

3) What motivates you to start your own business?

- The primary reason that motivates us when we started
our business was the potential of higher income than working
as an employee.

4) Why did you chose this kind of business venture?

- We chose this because during that time, it was the
most affordable business package that we can get and
knowing that there are only few that are offering a dimsum
snacks around our area.

5) What are the process you've undergo in starting your own

business?
- A. We identify our business idea
B. We conducted market research
C. We register our business
D. We obtain necessary permits and licenses
E. We launch our business1

6) What is the current status of your business now?

a) Sales - It grew
b) Employment - We hire more employee
c) Customers - There are many customers than before
d) Expansion - Our store is now big enterprise

7) What are the significant challenges you've encountered at

your business? How did you overcome these challenges?
- The significant challenge we’ve encountered during the
pandemic was when we need to close for 1 month and having
a limited number of customers buying our product.

8) Did you seek for assistance (public or private) when you

planned to start your business?
- Yes

9) What do you think the personal attributes/characteristics of

yourself that contributed to the success of your business
venture?
- Business minded, persistence, motivation, adaptability,
confidence, knowledge, perseverance, passion, reasonable
risk taker and good communication skills.

10) What are the advices that you can give to the potential
and actual entrepreneurs nowadays?
- A. Develop a business plan. A business plan helps you to
envision your business future.
B. Think twice before making any significant expenditure. Only
spend on what’s necessary and helps your business grow.
C. Challenge yourself
D. Pursue something you’re passionate about. It’s easier to put in
the time and effort required to succeed when you genuinely care
about your work.
E. Take the risk. Every business venture involves some risk. Don’t
be afraid to take calculated risk after thorough research and
planning.
F. Believe in yourself. Believe in your abilities and your vision even
when others don’t.
G. Understand your customers.
H. Learn from others.
I. Embrace failure. Don’t be afraid of failure. It’s often through
failures that we learn the most valuable lessons. It’s like the saying
“Experience is the best teacher”
– During running your business, what are your ethical practices when you
encountered the following problems:
a) low demands and low supply of your offered products/goods
b) profit deficiency and loss
c) bad attitudes of customers and employees

SUB-QUESTIONS: 1) How do you allocate resources at your business? 2)

Have you manage other business before your own? 3) How does your
business compare to competitors in the market? 4) What does your business
offer in terms of pay to employees 5) How do you generate customer
referrals? 6) What changes have you made to your business strategy over the
past few years?