Questions for small businesses...?

Question

I need to interview some small business for a class project. I could answer these questions for me that would be great! feel free to leave out any answers you're not willing to share.

Interview questions:

Interview questions:

• What is the history of your business? How did you first start it up, how many years have you been in business, what has your growth been like, etc.

• What made you go out on your own (or together, in case of a partnership, etc.)

• Who are your customers / target market?

• What are the strengths and weaknesses of your business location?

• What customer service policies have you adopted?

• Have you used any market research? Of what type?

• Did you prepare a business plan? Of what value was it?

• What are useful sources of funds in your experience?

• What government regulations have you had to deal with?

• What are your future plans?

• How do you stay ahead of your competition?

• How do you manage your costs?

• How many employees do you have? How do you manage employee turnover?

• Is protecting trade secrets an issue?

• Any problems encountered because of gender or minority status

• Any advice you would have for someone just starting out in business?

Answer 1

I'll be happy to help.  

All your questions are here:  Just started.  Came up with an idea targeting women.  Experience in marketing, consulting, and insurance, so I felt women were being underserved in the financial sector, especially insurance.  I am online: website: www.insuritnow.com.  

Strengths:  I have a vision to educate women about insurance on an informal level and provide resources for them to become better consumers.  I am building a team consisting of a mortgage loan officer, a realtor, and others to come so that answers are provided without the pressure to buy.  My site provides comparison shopping for insurance at this time but will incorporate other financial areas as well.

Weaknesses:  Its a slow moving process with an online service but its challenging enough for me to seek, and seek more.  Why?  I know these steps are required to go through but as long as I have resources to get connected, its going to expand.  

Customer service policies:  Understand your customer base and what makes them tick.  Not with your product or service in mind, but for the benefit of their lives.

I've done plenty of marketing research and still going strong.

No govt regulations.  I actually intend to use govt regulations to my advantage being a woman and minority.  

My competition is my measuring tool.  I cannot say my site is competitive yet because insuritnow.com is still in its infant stage and hasn't been fully marketed yet; but I would like to see it measure up to other insurance comparison shopping websites.

My cost is based on my own pocket and having management background, I foresee what steps need to be taken into the next dimension of each stage.

No employees yet but its about vision and turnover is part of life. Some people "fit" while others don't.

Trade secrets is a not a secret at all.  Its about how the founder has a natural vision and looks for those with the same outlook to help it go in the right direction.  Employees need to be looked upon as the gold spinners while the customer is the golden goose.

So far, I have encountered no problems with gender yet.  But get back with me later.

Advice for those starting out in business:  I have manage my own parttime business in food(its was seasonal and fun while it lasted, but I lacked finding a good employee):  I will say that connection (people with resources and contacts) and starting off parttime (because you want to build layers so there is a sturdy foundation) are 2 important keys.  Everything else falls into place, especially when you hold the customer and the employee high on the measuring stick.