Very Short Interview With Entrepreneur, Part 2

From where you stand now, what is your impression of that initial interview?

I feel that the initial interview was extremely basic. I did not have any idea of what I wanted to venture into creating or how I would do so. I think that the advice that Bruce gave me was great and was relatively in line to how the course played out. 

Second, visit the entrepreneur again.

I had the opportunity to call Bruce, but was unable to record due to how short notice the call was and he was in a hurry. I was writing as we talked so I recorded the questions and answers:

Q: After spending much time developing an idea in this course, I feel that I have a great direction for starting a business. What would you say would be something that you wish someone had told you prior to actually launching?

A: Great question. I really wish someone had told me how much overtime I would be putting into the business for the first few years. There would be weeks where I would not get a day off between ordering products to working shifts for missing employees, or pursuing marketing efforts daily. You need to know it takes a LOT of dedication.

Q: What did you do to gain most of your beginning capital in order to launch your business?

A: For me, I took out a relatively large loan and began from there. As our profits grew, we were able to pay off much of those loans and get our accounts in the green so we could take out more accounts payable. 

Q: What is one thing that I should be aware of in terms of my competitors?

A: Know that they can be ruthless. At times, they may counter market, try to lowball your prices, or even threaten your very existence in their market. Just continue doing what you do best and try to ignore the heat and only recognize the details that will help your business succeed. 

Discuss your comfort level in talking about entrepreneurship in this interview now, compared to three months ago. Did the entrepreneur convey a sense that they thought you had progressed in your journey?

I feel that I have a much better grasp of what the market wants and needs. I think that my entrepreneurial skills have been sharpened and I fee comfortable talking to others about my product and will have the framework down for if I do choose to pursue this in the future. He seemed to realize that I was serious about this the second time and that I understood the jargon much better.