MGT 1

Exercise 4- Entrepreneurship

Name _________________

1. How would you describe an Entrepreneurial Mindset ( as covered in the PowerPoint)

1. List 5 characteristic traits of an entrepreneur. Pick 2 that you think are most important and explain why.

1. Entrepreneurs are problem solvers who find solutions to problems. Assume you are an entrepreneur. Think of a problem or daily inconvenience and describe how you might solve the problem with a product or service.

1. In order to finance your business, where would you get the funding and explain why you would use that source.

1. (60 % of total grade) Select an entrepreneur of your choice to interview and share your findings. You should choose an entrepreneur from an industry that interests you that runs a business within our local area, i.e. Orange County.For purpose of this assignment an entrepreneur is a founder, owner, or partner in a business or non-profit organization that has fewer than 500 employees. (Should Not be a family member)

YOU MUST PROVIDE A PICTURE OF A BUSINESS CARD FOR THE PERSON YOU INTERVIEWED. (Attach it in this document)

Assignment Details

Part 1

The first part of your face-to-face (preferred method) or phone (acceptable but not preferred) interview report should include the following:

1.Name of the Entrepreneur

2.Company name and brief overview

3.Contact information

4.Your explanation of why you selected this person to interview

5.Date and time of the interview.

Part 2

The Interview Report should include questions (at least 8-10) that you developed prior to the interview and a summary of the interviewee's responses to each of these questions.

Do not just ask surface level questions. Think of probing questions that dig deeper into the life of the individual. Your goal is to thoroughly understand the entrepreneur and how they were able to establish their business. Here are some areas you may want to touch on:

Vision/mission of their business

Challenges/rewards in growing the business

Life before the venture

Background and personal characteristics:

Family life/Work Balance

• What is most rewarding about being an entrepreneur
• How did you get money to start your business
• If you were to do things differently when you started your business what would it be

Personal values

Work/Education History

Motivations, Role Models, Support Systems

Part 3

Wrap up your Interview Report by including a summary of what you've learned from conducting the interview.