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Small Business Owner
      Interview
 Cindy Solomon, Accent Interiors, My
              Mother

       Matt Solomon, Nichols
       College, MGMT 100-08
The Business
Type of business structure (Sole proprietorship, Partnership
   or Limited Liability Partnership, LLC, S Corporation, C-
                         corporation)
                          Partnership

  Why did they choose this structure instead of another?
At the time there were more advantages to setting up the
           business regarding responsibilities.

                       Product
               Custom Window Treatments

          How long they have been in business?
                        14 years
Background of
                 Business
                      How did they get started?
Started sewing window treatments for each other and decided to start
 working out of the house and making window treatments for others.

         How did they finance their purchase of the business?
                    Invested as they went along

                     Why did they start the business?
Looking for a part time business where they could make their own hours
                      and earn some extra money.

      What is the owner’s training or background in the business?
                 Always very creative and liked to sew

How does the company today compare to the company when it started?
              It has slowed down due to the economy.
Successes
             What have been the successes?
 Happy customers and plenty of references. Grown by word
                       of mouth.

 What is the most rewarding aspect of running the business?
                          Why?
Seeing how happy people are when they like the work that is
                          done.

What are the critical success factors for this type of business?
                            None
Challenges
               What have been the challenges?
Familiarizing one-self with the latest trends and techniques.

What is the most challenging aspect of running the business?
                            Why?
That she has to be dependent on others to do well and when
          they mess up it is a reflection upon her.

          How did they overcome the challenges?
            Staying on top of the employees.

      What are the fatal flaws in this type of business?
       If you make a mistake it’s all on your head.
Competition
   Who do you consider two of your closest competitors?
                         None

How does the business try to achieve competitive advantage?
         Customer satisfaction and lower prices.

How do you keep your customers satisfied? How do you build
                     customer loyalty?
  By ensuring quality and being dependable and reliable.
Marketing and Staffing
What type of strategies do you employ to market your
                      business?
                    No marketing

     When considering new employees for your
business, what type of qualities and fit are you looking
                         for?
            Dependability and reliability
The Future

   Does the owner plan to stay in
  business for the extended future
 and, if so, what are some of their
future plans/goals for the business?
Yes, maintain the high quality that
         you are known for.
Unique Questions
What unique interesting questions did you ask
 and what were the responses? (Ask at least
        three questions of your own.)
Are there any unusual strategies you applied?

 Is it a business that you would recommend
               others to get into?

Have the changes in recent tax laws affected
           you in a major way?
Summary
What advice does the business owner
 have for the members of this class?
 If you start a small business make
sure its something you’re passionate
                about.
          What did you learn?
 That her business is a partnership.

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Small business owner interview

  • 1. Small Business Owner Interview Cindy Solomon, Accent Interiors, My Mother Matt Solomon, Nichols College, MGMT 100-08
  • 2. The Business Type of business structure (Sole proprietorship, Partnership or Limited Liability Partnership, LLC, S Corporation, C- corporation) Partnership Why did they choose this structure instead of another? At the time there were more advantages to setting up the business regarding responsibilities. Product Custom Window Treatments How long they have been in business? 14 years
  • 3. Background of Business How did they get started? Started sewing window treatments for each other and decided to start working out of the house and making window treatments for others. How did they finance their purchase of the business? Invested as they went along Why did they start the business? Looking for a part time business where they could make their own hours and earn some extra money. What is the owner’s training or background in the business? Always very creative and liked to sew How does the company today compare to the company when it started? It has slowed down due to the economy.
  • 4. Successes What have been the successes? Happy customers and plenty of references. Grown by word of mouth. What is the most rewarding aspect of running the business? Why? Seeing how happy people are when they like the work that is done. What are the critical success factors for this type of business? None
  • 5. Challenges What have been the challenges? Familiarizing one-self with the latest trends and techniques. What is the most challenging aspect of running the business? Why? That she has to be dependent on others to do well and when they mess up it is a reflection upon her. How did they overcome the challenges? Staying on top of the employees. What are the fatal flaws in this type of business? If you make a mistake it’s all on your head.
  • 6. Competition Who do you consider two of your closest competitors? None How does the business try to achieve competitive advantage? Customer satisfaction and lower prices. How do you keep your customers satisfied? How do you build customer loyalty? By ensuring quality and being dependable and reliable.
  • 7. Marketing and Staffing What type of strategies do you employ to market your business? No marketing When considering new employees for your business, what type of qualities and fit are you looking for? Dependability and reliability
  • 8. The Future Does the owner plan to stay in business for the extended future and, if so, what are some of their future plans/goals for the business? Yes, maintain the high quality that you are known for.
  • 9. Unique Questions What unique interesting questions did you ask and what were the responses? (Ask at least three questions of your own.) Are there any unusual strategies you applied? Is it a business that you would recommend others to get into? Have the changes in recent tax laws affected you in a major way?
  • 10. Summary What advice does the business owner have for the members of this class? If you start a small business make sure its something you’re passionate about. What did you learn? That her business is a partnership.