Identify a local entrepreneur to interview about their experience with starting and running business.

1: Conduct the Interview

Be prepared to take notes and have your questions ready. If your interviewee consents, you could record the interview. Introduce yourself first and make sure to get the person's full name, job title, and contact information. Here is a list of required questions, although you may add more of your own:

1. What inspired you to start a business?
2. What products does your company offer?
3. How do you organize your business? (Identify sole proprietorship, partnership, limited liability company (LLC), corporation)
4. What are the advantages and disadvantages to the way you organize your business?
5. How do you determine how much to sell and what prices to charge?
6. How does competition with other businesses affect your decisions?
7. How do you determine whether your business is successful?
8. What advice would you give a young person who wants to start their own company?

2: Write/Reflect on Your Interview

Type up your notes from the interview in question-and-answer format. You may summarize your interviewee's responses if necessary. View a sample interview summary. Be sure to include the person's full name, job title, and contact information in your report.

3: Paragraph of at least three to five sentences: If you were to start your own business, what would it be and how would you organize it? How would competition affect you? Explain.