Small business interview - Book Report/Review Example

Some of them lack the background necessary for successfully running a business. In addition to that, some external factors also play a significant role in determining the performance of any small business. Increased competition from other rivals may lead to decreased sales and revenue. During the economic recession times, majority of business suffer due to slow rate at which goods are sold to the customers. However, various strategies enable small businesspersons overcome various challenges. Aggressive marketing strategies, price discrimination, and selling quality goods are some of the strategies employed in improving the performance of small businesses.

Direct selling for instance has been used to establish a direct contact with customers. Focusing on customer satisfaction has also played an important role in improving the general performance of small businesses. Proper and constant communication with clients is said to be one way of attracting and retaining customers. The following research provides the responses from a particular businessperson, with an aim to establish a number of factors and motivations to start a business. 1. Motivation for starting a small business Asked what motivated him to start a business, Mr.

Mark indicated that he had always wanted to become his own boss. ‘I hated the idea of being controlled,’ he said, ‘I wanted to be in a position to determine my destiny and be able to exploit my full potential,’ he added. According to him, working in one’s business enables one gain more experience and become creative in dealing with different challenges out there. He also added that, “one of my greatest motivations in starting and operating my business is being able to find satisfaction in what I do.

’ He stated that when one is employed, getting satisfaction in what one does is not possible. People are required to work hard but only receiving remunerations that are not proportional to the services rendered. Mr. Mark indicated asserted that there was need to have a job that makes one more flexible. ‘I can attend my other affairs without having to ask for permission from anyone.’ Since he began running his business for instance, he has been able have quality time with his family members.

This is unlike when he used to be employed in a bank. He did not have time for his family since he was required to be at the working station until weekends. Job security is another major motivation that prompted Mr. Mark to begin his small business. He asserted that, ‘with the current economic downturn, many companies are involved in downsizing activities,’ he paused before saying, ‘this has rendered many people unemployed.’ It is for ensuring his job security that he began to begin his own small business.

“What I earn here is not really important,’ he answered happily, ‘what matters is that what is that I have a consistent income at the end of the month,’ he said. He also told me that he liked the idea of starting the business in that he needed to increase his own income. With the ability to run his business, he indicated that he would be in a position to decide how much income he wanted in a month. ‘With proper business ideas and enough capital, one can expand his/her business which eventually increases the total income.

’ he therefore said that he had not regretted starting his own business since he has been able to achieve most of his goals. In summary therefore, the main motivations