Informational Interview with a Small Business Owner/Manager

Informational Interview with a Small Business Owner please write it for a at home cupcake baker. The persons name is Cherre Carnell company name Southern Maryland Cupcakes.

What would life be if we had no courage to attempt anything? – van Gough
Informational interviews are a crucial and often overlooked aspect of networking. They are the best ways to find out about a type of occupation and make a contact. Informational interviews are person-to-person conversations that help you gain information, insight, and advice from people who are in the functional areas, industries, and companies that hold your interest.
You will conduct an informational interview to gain greater insight into small business management and what it means to be an entrepreneur. Interview a small business owner-manager of your choice.
Setting up the Interview
To set up the interview, contact the relevant individual and request an opportunity to talk with them for about 20-30 minutes. Tell them straight away that you want to learn more about their experience as an entrepreneur and that you have prepared a list of questions to ask them.
You need to reassure them that you are not asking them for trade secrets or other competitive information but you are only seeking advice. This way they will be more comfortable with meeting you. It is important to arrange the information interview at the entrepreneur’s place of business, if possible, so you can get a feel for the organization.
Preparing for the Interview
The key to a successful interview is preparation. Use your background research to understand the basics of the industry, company and specific position.
Prepare a list of the questions you want answers to. Use the sample questions to help you plan good, information-seeking questions to ask.
Questions to Ask at the Informational Interview
List about ten to fifteen questions to ask about the following areas:
• the education, experience, skills and abilities needed for entrepreneurship;
• a typical day on the job;
• the rewards and challenges of small business management.
Use these examples of good informational interview questions to help you prepare for your information interview.
1. Interview the owner of the business, being sure to ask for information regarding that entrepreneur’s background and age at the time the business was started.
2. Ask the entrepreneur to what extent they engaged in preliminary planning and his or her views about the value of business plans.
3. Ask the small business manager about what he or she believes is (are) the competitive advantage(s) offered by the business. Inquire as to whether or not the small business utilized any type of marketing research.
4. Ask about the type of big business competition faced by his or her firm and the owner- manager’s “secrets of success” in competing with big business.
5. If the local owner-manager is a franchisee, ask the person to explain the process of how he or she obtained the franchise and the advantages of franchising over starting a business from scratch.
6. If the local owner-manager is a member of a family business, ask them to provide a brief synopsis on the company's history, including its founding, family involvement, and any leadership changes that have occurred.
7. Determine how the small business owner develops a promotional budget. Which form of promotion is most important (i.e. personal selling, advertising, sales promotion, etc.)?
8. If applicable, determine how the merchandise in the stores was distributed to them. What channels of distribution are utilized by the small business?
9. Ask the small business owner about the strengths and weaknesses of that business's location. 10. Ask the owner-manager to describe the firm's customer service policies.
11. Ask the small business owner about his or her pricing strategies.
12. If the small business owner extends credit, ask him or her to describe the credit management
policies used to collect bad debts.
13. Inquire about the type of financial statements that are used in his or her business. Ask the
owner how important financial data are to decision-making.
14. Ask in a generic and not overly personal fashion how the local small business owner obtained
funds to start the business. Do not ask for specific dollar amounts.
15. Does the small business owner-manager use a computer system in his or her firm?
Determine what types of hardware the business owns and why. What types of software
packages does the business use?
16. Has the company recently expanded? Interview the owner of the firm about the methods used in evaluating the expansion.
Tips for the Informational Interview
* Use the informational interview to get insight into what it means to be an entrepreneur and some of the highlights and issues faced by small business owner/managers
* Stick to the time limit you initially stated.
*Although this is not a job interview, you should dress professional and be punctual, polite and prepared.
* Immediately after the interview follow up with a thank you note.
• Something along these lines can be used:
Thank you for talking with me yesterday and taking the time to answer all my questions. I found it very helpful and I now have a much clearer understanding of what it takes to be an entrepreneur and small business owner. I know you have a busy schedule and I appreciate the time you spent with me.
Sincerely,
Your Name
* Follow up periodically with the people you have conducted an information interview with to keep up the contact. These contacts can provide a useful support network throughout your career.
Class Deliverables
Following the interview, submit a 3-4-page report outlining your findings and some of the interviewee's more notable comments. What did you learn most from the informational interview?
In the written interview report, be sure to show in the heading or the first paragraph the full name and title of the person you interviewed, the name, address, and telephone number of the company, and the date of the interview.