Interview With An Entrepreneur

In this week’s lesson we were asked to write a paper giving a summary of the interview I had with an entrepreneur. The follow are the five key takeaways that I got from that interview:

Success is defined in different ways for different people.  According to the entrepreneur I interviewed, he defined success based on three different criteria – is the reaction positive, what is the level of adoption, and does the action lead to revenue. Every entrepreneur should take the time to determine how they define success for their business.

Set out to solve a problem. More times than not, if you are able to accurately identify a problem and come up with a solution for it, people will get on board and your company will be successful.  

Relationships and connection are essential, but don’t put too much trust in them. One of the biggest struggles that the entrepreneur I interviewed has had to deal with is that his contacts and connections have generally overstated their ability to be of assistance.

Learn from your mistakes. The entrepreneur I interviewed said that if he had to do it all over again he would follow his instincts more, avoid distractions, and focus on tangible results. Throughout your entrepreneurial journey, take time to sit down and evaluate how well you have done, and make course corrections if needed.

Being an entrepreneur takes hard work. It may take years for a company to really take off, and those long years require a lot of hard work, dedication, and perseverance. 

$100 Challenge Update

Things are continuing to go well for my business, Carolyn’s Cocoa Cups. So far I have made $75 in revenue with about $42 of that being my profit. I am not very confident that I will be able to reach the goal of making a $100 profit, but I am going to continue to try my best to keep pushing and sell as much of my product as I can!

Here are some pictures of my product: