BusInsight - Entrepreneur Interviews

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Entrepreneur insights and perceptions related to their businesses were obtained through interviews conducted by students. Student insights and reflections regarding the interview process are shown on this page.

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Being exposed to the running of a full fledged fashion inspired business is quite eye opening. When I thought of the Fashion Industry initially, I imagined glamorous models, gorgeous clothes, and extravagant parties. But in reality, to run a successful fashion clothing line, it takes passion, tenacity, a little luck, and significant amount of intensive labor. As the old adage attests “Rome wasn’t built in a day” and the same applies to creating a business. Successful work needs time to generate great things. To run a small fashion business I found out that it’s a 24 hour day operation and a 7 day per week commitment, which calls for an ample reservoir of self-discipline. Additionally, I understand now that you need to think of yourself as a CEO first. You can expect to spend less than 10 percent of your time designing. You will oversee all characteristics of the business, not just the fun creative parts. Starting a small business can be a thrilling and electrifying experience, but it is not a decision that should be taken lightly. In addition to putting in the numerous hours to produce exceptional results for a small business, I uncovered four key components that are significant in the fashion business industry. First item is to bring something unique to the market and carefully craft your business plan or concept around it. Get inside the mind of your customers to comprehend how you can meet their needs and how you can link with them through marketing and communication. Secondly, find a complementary business partner that will have opposite strengths and weakness of your own. It’s also critical to find a business partner you can trust to help you manage the business. The third key component that is extremely useful is the crafting of a robust network of contacts within the industry as well as using your already existing network. Building a fashion business requires access to all types of individuals and resources. Your network should include anyone from classmates, to family, friends, and fashion trade organizations. Don’t be afraid to reach out to your network for help or advice. And lastly, the most important item is to manage your finances sensibly. This is imperative because too many designers have been in a situation where they have orders to fill, but due to inadequate cash flow, they could not buy the materials they needed to produce and deliver on those orders. A worthy tip to make every penny count is to ask manufacturers for extended payment terms and wholesale customers for deposits in advance.
Date Submitted: 2017-04-27 21:01:04

What was the more meaningful to me about this project was being able to sit down with the entrepreneur and listen to their story, understand his’ challenges as a restaurant, and how important it is to put effort into a business. Listening to his story made realize if an opportunity comes knocking at your door that allows you to do something you like then you should open it. When the entrepreneur was first approach with the offer of buying the small business he was inspire and flutter with new ideas on how he will go about running the restaurant.. Now he is the most happiest person I have ever met. He does not dread going to work. He actually loves it. He does go throw many challenges as a small restaurant, like shortages of supplies. But, he tries to make the best of what he can by improvising with what he has. He is also a great role modle to his employees. He show them that they can work hard and have fun at the same time. He does so by letting his employees socialize and crack jokes with customers. By allowing his employees to do this he makes his customers feel at home and keeps the workplace a good environment.
Date Submitted: 2017-04-27 19:47:02

Most meaningful part about this project is that Steven is my neighbor, he is into classic cars, started from his garage. He inspires me because i also worked in my driveway and garage since high school i started fix my own cars too. I also own two classic cars, a 1966 Ford Mustang and a 1975 Datsun 260z that are current project cars i'm working on with my dad. And since he has a vast knowledge on classics he said he would help me with anything i have trouble with. He has also showed me that i too can make my own business but now i have his tips and tricks on how to become a better business man, shop owner, hard worker and not go through the same mistakes he did. My other favorite part about this project was that i never actually went out and talked to Steven or even knew he owned a shop. I just always seen him pass by in his two toned red and gray 71 Chevy Nova driving past my house, occasionally screeching his tires. This project has allowed me to go out and talk to real ordinary people who have actually started from nothing. I was able to build a relationship with Steven and gain knowledge about his experience. Steven said he will help me with whatever future questions i may have, he said he would help me with a business plan and be a mentor to me. Steven and I are now friends and i visit him at his shop to see how things are going.
Date Submitted: 2017-04-27 19:22:41

What was most meaningful to me about this project was that I got motivated to continue with my own clothing store, especially after being able to talk to an actual entrepreneur who already grew her business so much. I was honestly getting a bit discouraged about my own boutique. I kept focusing on my store not being as successful as others and as I want it to be. This project was a reassuring experience, I feel like it’s what I needed to keep me going to reach my desired goal. I learned that everyone has to build their business from the ground up (sometimes literally), and I realized that I’m barely in the seed planting stage, and if I do things right then my boutique will blossom beautifully. (: At first I didn’t want to go through with this interview due to my somewhat shyness. I was afraid that she (being a boss!) would look down on me for not being as successful, but instead she was a complete sweetheart and gave me some great advice. Now I’m glad I did it. It was cool meeting her, she’s one of the business women that I admire. After talking to her I feel more sure and confident that one day I will be ‘on her level’. She gave me some good tips and I realized that she started out just like any great entrepreneurs do. It’s a slow process but if you work hard you can grow it into something great, even bigger than you imagine.
Date Submitted: 2017-04-27 18:35:24

The most meaningful parts of this interview progress was giving me an insight of the management and how a business man thinks about owning his own Mixed Martial Arts gym. I have a real strong interest in owning my own gym one day and excel in that business. Having me be able to learn some of the ins and outs has helped me see where my own main focuses should be when I begin to pursue my career as a gym owner one day. The most useful piece of advice was actually learning the various challenges that the gym faces within the regards of competition, location, and having myself be a challenge. I feel actually excited to face these and find my own resolutions to these challenges and see what results arrive from them. Currently working on these goals even show that when time comes close that anything can be possible for anybody that works hard and continues to push to accomplish their goals.
Date Submitted: 2017-04-27 14:30:11

This project was very important to me because it allowed me to view a business from an entrepreneurs perspective. I am aware that starting your own business will be difficult in the beginning and take a lot from you. But I as a customer, I have been content with the results from the salon. I always leave content even when I am afraid of the results. It is motivating to see the type of engagement you must do to create such customer satisfaction. The restaurant industry is just as competitive as beauty salons. There are so many options to choose from, whether it be fast food or dine in, there is always someone to provide them with food. I have learned to focus on my market much more and understand how it works. In order to survive I must be a few steps ahead, know whats good and bad for my place. Another factor I will incorporate into my future endeavors is to keep myself knowledgable. There is always room to improve myself and my business.
Date Submitted: 2017-04-27 09:48:49

The most meaningful thing for me about this project is just getting to know the business world. The business world is a cruel world. Survival of the fittest, all businesses are all trying to survive and thrive. But, that doesn’t occur its either one survives, flourishes, or fades away. Most businesses fail and it’s hard to maintain them, but like I always tell everyone `you miss one hundred percent of the shots you don’t shoot. So why not take the risk and hope your idea is the next big thing or something really useful. If the business does fail take the failure as motivation to comeback stronger. I do believe people learn from failure due to the fact people don’t like to fail twice and we learn from our mistakes. What doesn’t kills us makes us stronger because us humans as a whole tend to let our failures outweigh all the success achieved but we come out the failure one becomes hungry to succeed again. To continue, I enjoyed doing this project because it gave me lots of new information about owning your own business. Owning your own business is hard to maintain, everyone can own one but not everyone can maintain one. Business people created their business due to their passions and desires. Also learned many new aspects like how to maintain a business, tips for becoming an entrepreneur myself, and challenges that the business goes through. Maintaining a business requires lots of time, money, and hard work. Advertising is crucial in maintaining the business because it puts your name and product out there. Never give up and always have a positive mind set, when things start to get difficult in the business world which it indeed does quite often, follow through and keep the positive mind set everything will get back to normal and even succeed expectations. The business world is all about connections because if one got more connection one has more opportunities.
Date Submitted: 2017-04-27 06:24:42

I think the most meaningful part of this project is that it got me out and asking my aunt of this subject. Like it was never a good time to bring this up to her and talk about, but as the interview went on the more engaged I felt. Speaking to another person so passionate about their work also makes me more inspired to start my own projects. Plus it wasn’t a random stranger I knew and this was a family member. If they are able to make it work then so could I. Just hearing how and when got started would just send chills down my spine. It was almost as if I can imagine myself in the same position giving my interview to another person. Another meaningful part of this project is having that extra networking. If they are willing to give you an interview then you made it for than other people. I mean besides family members. Most of the people getting the interview have made their business a success; so by talking to them, you understand how they were able to push through with their ambitions. Just from knowing the owner of the franchise, you are also to also branch out your network. If you know the owner then by extension you also “know” everyone they know. Also maybe by doing this interview you can incorporate their ideas with yours to make an even bigger franchise.
Date Submitted: 2017-04-27 04:16:48

This project is a good experience. This is also good to look into the future. Seeking small business owners was also good knowing who is around us. That maybe even in the future they can help me in my business. Also for many other such as my self you do learn from others. They did get very thoughtful and personal with the answers. I thought it was great. Then there is witness of what to expect in a small bushiness. This was a way it can help me out in the future . When it comes to business owners like this it seem like they are trying to help.
Date Submitted: 2017-04-27 03:24:43

The first most meaningful thing of this project to me was that i got the chance to talk to a person who essentially shared the same dreams as me and became what i want to be in the future. He opened up a successful business and loves doing what he does. As for me, i am currently unsure what i want to open up or how to do it. Things do take time as he stated above. Things don't come right away and usually take a few years to start seeing progress. Many of the things i want to do cannot be done within a day. I want to open up a business where i can be myself and do what i want. Of course it would be a small business but who cares, it is going to be my business. There will always be problems and roadblocks ahead but all it takes is hard work and consistency. Staying in the now with the new technology just so you and all your clients are on the same playing field. Spending moneywill be needed here and there along the way so don’t be hesitant to spend your money, because you have to spend some to make some. Make sure you show your appreciation to not just your employees, but everyone including your customers because without them it would be hard to keep it thriving. Treating everyone the way you wished to be treated . Don’t be afraid to take a leap of faith into something new. Another thing is that you should do your own thing and do not let anyone tell you other wise. this is your life and you have the right to do what you want to do.
Date Submitted: 2017-04-27 03:20:16

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