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Please review the instructions document first before replying. There are three attachments. One which I have already started and most likely will need to be edited. I have included my original interview paper which I need a teacher to expand on.
AGAIN PLEASE READ AND FOLLOW THE INSTRUCTIONS CAREFULLY!
Interview on Randy Lewis’ Foster’s Freeze & Real Estate Business 3
Interview on Randy Lewis’ Foster’s Freeze & Real Estate Business
Robert Lewis
DeVry University
Professor: Russell
SBE-310 – Interview Paper
November 10th, 2013
Randy Lewis has been an entrepreneur since 1975. His fields of experience span from franchising, restaurants, real estate and some basic computer programming. As an entrepreneur CEO, Randy Lewis invested in a four businesses over the past 40 years. The first business was the restaurant business called Foster’s Freeze and the 2nd was Vintage Relators.
What type of person becomes this type of risk taker? Money certainly was an important factor for Randy’s new venture but there was more to it. Randy states “You must be an independent thinker and self-starter who desires freedom and independence so that you can chart your own path”
What challenges did he or she face and overcome? Randy and many other entrepreneurs face under capitalization for their business.
What failures did this person have? For Randy, spending too much time in the business and not balancing his family time would be his failure but was a sacrifice he had to endure.
How many companies has he or she started? Randy had three Foster’s Freeze restaurants and one Real Estate brokerage business.
How successful is he or she? Randy has gone from zero to two million dollars back to zero and once again back closer to three million dollars.
Why is this person successful? Randy is successful today due to a few key ingredients; tenacity, an optimist, good management skills and great communication.
Why did he or she become an entrepreneur? Randy sought out to become an entrepreneur is primarily to be being bored with the corporate world. He has the freedom to steer his own ship.
What did you learn about entrepreneurship from this interview? Randy Lewis clearly has demonstrated that money is not the only important or motivating factor when it comes to running a business. He has passion for what he does. Bottom line he is independent.
References
Personal interview by phone
According to R. Lewis (personal communication, November 10, 2013)
Development of Foster’s Freeze Restaurants & Vintage Realtors 3
Reflection on Randy Lewis’ Foster’s Freeze & Real Estate Business
Robert Lewis
DeVry University
Professor: Russell
SBE_310 – Reflection Paper
November 18th, 2013
Randy Lewis has been an entrepreneur and in the California region since 1975. His fields of experience span from franchising, restaurants, real estate and some basic computer programming. As an entrepreneur CEO, Randy Lewis invested in a four businesses over the past 40 years. The first business was the restaurant business called Foster’s Freeze and the 2nd was Vintage Relators.
For Randy money certainly was an important factor for his new venture at just 26 years old but there was more to it. Randy states “You must be an independent thinker and self-starter who desires freedom and independence so that you can chart your own path” (Randy Lewis, 2013). The number one problem Randy and many other entrepreneurs face is under capitalization for their business. You can have the perfect product or service but without capital you have a big challenge. Another challenge for Randy was managing employees at times. There are many personalities you encounter and have to adapt to. Attracting the new and reliable employees is difficult. Having a budget for advertising and marketing is also another obstacle business owner’s face. Again, that goes back to capitalization. Lastly, there are very long hours and no paychecks for sometimes a couple of years. You are paid last if at all.
For Randy spending too much time in the business and not balancing his family time would be his failure but was a sacrifice he had to endure. Comes down to time management. Randy had three Foster’s Freeze restaurants for over 25 years and then started into the Real Estate brokerage business for the past 15 years for a total of four entities. Randy has gone from zero to two million dollars back to zero and once again back closer to three million dollars. This clearly shows that Randy can build back up from ground zero to success many times over. Randy is successful today due to a few key ingredients; tenacity, an optimist, good management skills and great communication. The main reason Randy sought out to become an entrepreneur was primarily being bores with the corporate world and desire to have freedom and steer his own ship. His success was based on achieving balance between success and his family later on as he got older. His model is “Success at home and business makes a happy life and a happy wife.”
I have learned a great deal with this interview. Randy Lewis clearly has demonstrated that money is not the only important or motivating factor when it comes to running a business. He has passion for what he does but really does it so he can have the freedom to make his own destiny. In the corporate world your boss dictates your destiny which ultimately leads to destruction after a layoff etc. Another key element here to acknowledge is that family and work most definitely need balancing to be completely successful in life. Many business owners are successful in business but not at home. For me that is a huge concern to keep in mind when going into business. Although some sacrifices will need to be made along the way but keep a balance is key with good time management.
References
According to J. Smith (personal communication, November 10, 2013),
http://search.ebscohost.com.proxy.devry.edu/login.aspx?direct=true&db=pwh&AN=12441283&site=pov-live
Personal interview by phone
According to R. Lewis (personal communication, November 10, 2013)
|
Part 2: Entrepreneur Reflection Paper |
Expand upon the entrepreneur interview, and write a reflection paper on your chosen person. The entrepreneur reflection paper is worth 1
50
points and is due in Week 5. The purpose of this paper is to take the information from the interview and reflect upon the challenges and rewards of being an entrepreneur.
Guidelines
· The paper must be 4 – 5 pages in length.
· You must follow APA formatting.
· Include a table of contents.
· Use one inch margins, double spacing and 12 point fonts.
· Do not add extra spaces between paragraphs, only one standard double space should be used.
· Even though this is not a scientific-type writing assignment and is mostly creative in nature, references are still very important. You must reference your interviewee.
· Be sure to look up how to cite an interview in APA style. Use references within the paper and at the end of the paper as well.
· Use one inch margins, double spacing and 12 point fonts.
· Do not add extra spaces between paragraphs, only one standard double space should be used.
Best Practices
· Cover Page: Include who you prepared the paper for, who prepared it, and the date.
· Table of Contents: List the main ideas and section of your paper and the pages where they are located. The illustrations should be included separately.
· Introduction: Use a header on your paper. It will indicate that you are introducing your paper.
The purpose of an introduction or opening is to
· introduce the subject and why the subject is important;
· preview the main ideas and the order in which they will be covered; and
· establish the tone of the document.
Include in the introduction a reason for the audience to read the paper. Also, include an overview of what you are going to cover in your paper and the importance of the material. (This should include or introduce the questions you are asked to answer on each assignment.)
· Body of Your Report: Use a header titled with the name of your project (e.g., “The Development of Hotel X – A World Class Resort”). Then proceed to break out the main ideas: state the main ideas, state major points in each idea, and provide evidence. Break out each main idea you will use in the body of your paper. Show some type of division such as separate sections that are labeled, separate group of paragraphs, or headers. You would include the information you found during your research and investigation.
· Summary and Conclusion: Summarizing is similar to paraphrasing, but summarizing presents the gist of the material in fewer words than the original. An effective summary identifies the main ideas and major support points from the body of your report; minor details are left out. Summarize the benefits of the ideas and how they affect the tourism industry.
· Work Cited: Use the citation format as specified in the Syllabus.
Grading Rubric:
|
Category |
Points |
% |
Description |
||
|
Insight |
50 |
28.5% |
What insights have you gained from your interview? What did you learn from your entrepreneur? |
||
|
Analysis |
How did you interpret the message from the entrepreneur with what you have learned so far in class? (How would you apply theories reviewed in class?) How was the information analyzed? What was the message of your interview? |
||||
|
Overall Organization |
25 |
14.5 |
Was the paper organized, and did it tell the story of the entrepreneur and your findings? The overall paper should be cohesive and tell a story. How complete was the paper? |
||
|
Formatting |
Ensure that your paper is well written. |
||||
|
Total |
150 |
100 |
A quality paper will meet or exceed all of the above requirements. |
