Question

Small Business Owners Help !?

I have an economics class and I have to interview small business owners. If you are a small business owner can you please answer at least 7 of the following questions, thanks (:
1.) What prompted you to begin or buy this business ?
2.) What kinds of problems did you anticipate before you started ?
3.)What kinds of problems did you deal with the daily operation of your business?
4.) What types of employees do you have(part-time,full-time,hourly wage, salary)
5.) Do the different types of employees have different positives/negatives to you as an employer, please explain.
6.)Before starting your business, did you have a business plan?
7.)What do you find most rewarding about owning your business?
8.) As a small business owner do you believe you have any advantages over large corporations? If so, why?
9.)What advice would you offer to anyone who is thinking about starting a business of his or her own ?

2 years ago - 1 answers

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1.) What prompted you to begin or buy this business ? Loss of job. Hard time finding employment at decent wage. Available funds at the time. I've always wanted to own my own business.
2.) What kinds of problems did you anticipate before you started ? Dealing with the government and the thousands of laws. Income. Anxiety of not making your money back that you invested in a timely manner. Lawsuits.
3.)What kinds of problems did you deal with the daily operation of your business? Not having enough staff to cover work and not having enough income or work to support further staff. Having to do work employees should be doing that took away from growing the business.
4.) What types of employees do you have(part-time,full-time,hourly wage, salary) ft, pt, hourly, commission.
5.) Do the different types of employees have different positives/negatives to you as an employer, please explain. You get a combination of both from just about every employee. Most employees have the mentality of spending tons of money and super discounts and free things to customers are the norm in business. This is not the case sometimes in small business. You also get some employees that may try to imply big company and union rights to small businesses. We simply can't afford a lot of the benefits or perks that the bigger companies may provide.
6.)Before starting your business, did you have a business plan? Not a formal one, but a mental one and various notes and research.
7.)What do you find most rewarding about owning your business? Being your own boss.
8.) As a small business owner do you believe you have any advantages over large corporations? If so, why? Yes and no. Large corps obviously have more resources and money in most cases. However, it is a benefit to not have to answer to anybody and this helps avoid confusion and tension. It is a lot easier and faster to imply new rules or strategy on your own.
9.)What advice would you offer to anyone who is thinking about starting a business of his or her own ? Have courage, think positive, have faith, stay committed. Be conservative on your spending, but don't be shy to spend big occasionally. Don't stress, just keep doing what you do and the numbers always seem to work out someway somehow each month.

2 years ago