New venture planning Assessment 1: Individual Profile of an Entrepreneur (20%) You will interview the entrepreneur to identify the current status of the business and how it has reached that stage of its development focusing upon performance measures of success. The interview will focus on the background, attitudes and beliefs of the entrepreneur and his/her motivations for entering into new venture creation. The interview will also explore the journey to date and the challenges associated with starting and growing a small business. It will establish the mid to long terms goals of the entrepreneur - where he or she wants the business to be in 3-5 years. You will examine the potential for development that exists within the business and identify the internal and external vectors which may support or detract from the entrepreneur’s objectives. A list of questions is provided (see Appendix A) which will help you structure the interview. The individual profile of an entrepreneur is worth 20% of the overall class mark. Word count: 1500 words maximum. The way in which the report is written up will depend on the information collected and everyone will have collected a different range of information, and second, it is important to enable some flexibility in terms of how the profile is written to enable you to be creative. However, here are some pointers: 1. It does not need to be “academic” in the sense of having lots of references; however, the content of the interview does need to cover issues that are addressed in the scholarly literature: e.g. are entrepreneurs ‘different’; attitude to risk; motivation to start a business; background factors (e.g. education, family, work), opportunity identification, access to resources, raising finance; aspirations for the business; transition from ‘entrepreneur’ to ‘manager’. 
 2. You need to discuss both the entrepreneur and his/her business 
 3. You are telling a story about an individual – think of it as a piece of (high class) journalism that might appear in a Sunday magazine. Andrew Davidson and Rachel Bridge (Sunday Times) are examples of journalists 
who have written some excellent profiles of entrepreneurs. 
 4. You should conclude the profile with a section on the insights that you have learnt about entrepreneurs, entrepreneurship, new venture creation 
and growth as a result of the interview. 
 5. The paper should include a methodology section which indicates how 
you identified the entrepreneur, what is the relationship (if any) between you and the entrepreneur, and how the information was collected (e.g. face-to-face interview, telephone interview, e-mail, etc) and recorded (e.g. tape or notes). 
Ethical issues 
It is essential that you adopt the highest ethical standards when interacting with the entrepreneur that you interview. The entrepreneur should not be coerced or otherwise induced into granting an interview. The entrepreneur must be fully aware of the purpose to which the information provided will be put so that s/he can give informed consent to the interview. The entrepreneur must be made aware that the information provided will be presented in class and will be read by the class tutor and/or teaching assistant – i.e. that it is not confidential to you. The information provided will not be used for any other purpose or passed on to a third party. If the entrepreneur is concerned about confidentiality issues then it is quite permissible to anonymise him/her in your paper (by giving them and the company false names). This must be indicated in the paper. APPENDIX 1: INTERVIEW SCHEDULE: ENTREPRENEUR PROFILE GENERAL THEMES AND ISSUES TO EXPLORE Initially, ask the interviewee to sketch out the nature and scale of the business. Then move into exploring three major themes outlined below. Background and start-up What motivated you to get into business? 
 Was there a specific trigger that finally got you into business? 
 How did you come up with the idea for the business? 
 How did you establish it was a viable opportunity? 
 What is your background? 
 What relevant experience or skills did you have? 
 Why did you think you were ready to start your own business? 
 Who or what were the key influences on the decision to start a business? 
 Who did you speak to before starting your business and who did you turn to for 
help/inspiration? What help/advice/resources did you obtain from them? 
 What resources did you have to start the business and how did you obtain any 
other resources needed? 
 What were you trying to achieve with the business? 
 What preparation did you do prior to starting? 
 Did you start the business alone or did you have partners? If so, are they still 
with you? If not, why? 
 Who did you employ when you started your business and are they still with you? 
If not, why? 
Managing and growing the business Business issues 
 • How has the business grown since start-up, and how does this compare to Initial expectations? 
 • To what extent was growth planned or was it thrust upon them? 
 • What have been the key challenges along the way? 
 • What have you most enjoyed about being a small business owner? 
 • What have been the good times and the bad times since start-up? 
 • What challenges have you faced and how well have you managed them? What 
impact have they had on you and the business? 
 • How has the business changed since start-up? 
 • What have been the key actions that you have taken that have helped the 
business grow? What actions (if any) have you or anyone else taken that have 
impeded the growth of the business? 
 • Which companies do you see as key competitors, and why? Which companies 
do you most admire, and why? 
 • How do you continue to keep abreast of what your customers need? 
 • How do you market and promote your business? 
 • Who helps you develop the strategy for your business? Personal issues 
 • How has your role changed since start-up? 
 • Do you still enjoy being an entrepreneur and what keeps you motivated? 
 • Do you maintain a good work/life balance? 
 • What sacrifices have you had to make in order to grow your business? 
 • How do you measure success? 
 • What would she do differently, looking back? 
 • Who else has been involved in growing the business? 
 • Who do you talk to about your business? 
 • Do you have any guiding principles in business? 
 • What lessons have you learned about being a small business owner? 
 • Do you see yourself as an entrepreneur? 
 • What advice would you give toy someone starting a business? 
Future direction 
 • Where next? What are you key objectives for the next few years? 
 • Is it important to have a clear vision of the future? 
 • Where do you see your role in the future? 
 • What are you trying to achieve now, both for yourself and the business? 
 • Would you ever consider starting another business? If so, what lessons would 
you apply from your experiences to date? 
 • If you could have three wishes, what would they be?