I believe my first interview to be very general in the
questions that I asked. They were good questions but very general, especially
after a semester in this class.
These answers came via
email:
1. Have you ever thought of franchising your business? No, I don’t think that RE flipping is
something that is franchisable.
2. Have you evaluated your business? Yes, not sure if you mean financially
or generally speaking. We evaluate our business goals, objectives and
direction weekly in our business meetings. We have a one-year goal
(purchase 12 houses in 2016) and short term goals.
3. Do you have an exit strategy? No, well, actually, we have individual
exit strategies in general for our property purchases, but we do not believe in
having an exit strategy for the business. We do have a retirement strategy
which is to purchase multiple rental properties and to live off the rental
income.
I was very comfortable
with contacting this entrepreneur again, as I felt that with the first contact
I built a good repute with them. I did feel that I was more comfortable
speaking their language as the terminology was more attuned to the business at
hand. I can only guess that they thought that I had progressed. The
conversation went very well.
I too felt much more comfortable this go round interviewing an already established entrepreneur. It sounds like the person you interviewed has a good grasp on their business and where they want to go with it. You should continue to develop a relationship with them and learn as much as you can from both their successes and failures.
ReplyDeletehttps://wordpress.com/post/mcardle526.wordpress.com/787
Dallin,
ReplyDeleteGood job on completing the assignment and establishing report with your entrepreneur. Although email's are the least-rich form of communication, I encourage you to ask more deeply-rooted questions about your entrepreneur's feelings and thoughts. While your questions were important, showing interest in another's perspective and ideas creates an emotional connection and will really help you with networking. Just some food for thought. Overall, I enjoyed reading your blog and have attached the link to mine as well.
http://dipaoloent.blogspot.com/2016/04/very-short-interview-no-2.html
I look forward to your comment and speaking with you soon.
Best,
Louis DiPaolo Jr