2-Hour Meeting Answer #3

1. What is the best way to sustain a profitable flower shop?

2. In order to know how to sustain a sound business foundation, you must know what type of business it is

3. *There are various models of business:

- Sole-proprietorship

-Corporatjons

- Limited Partnerships

*Knowing the difference is key because it limits you to what you can and cant do

*The advantages of each one is crucial and how taxes are paid is the most important thing.

4. My research helped me:

Reuting, Jennifer. "Entity Types: Which One Is Best for Business?" Entity Types: Which One Is Best for Business? MyLLC, 2012. Web. 26 Oct. 2012. <http://www.myllc.com/entity-types.aspx>.

"Types of Corporations." STCIG.com. STC, 20 Mar. 2007. Web. 31 Oct. 2012. <http://www.stcsig.org/cic/onlinebook/chapter_20/c20c.htm>.

"Incorporating Your Business." Entrepreneur. N.p., n.d. Web. 22 Feb. 2013. <http://www.entrepreneur.com/article/77730>.

5. What i plan to research next is understanding better each entity and how the advantages work towards the little companies and why the bigger companies all have corporations.

Fourth Interview Questions

1. What is the best way to sustain a profitable flower shop?

2. What is a corporation and how does it work?

3. What makes that different than running a sole-proprietorship? What are the advantages and disadvantages?

4. Knowing your product is very important, but why?

5. How do you sell the product to a customer, in other words, how do you get the customer to buy into your product or service?

6. What is more important: the product or the customer? Why?

7. What are basic business principles any business person should know about?

8. Do you have those principles and if so which are most important?

9. What are the steps you took to start your own business?

10. How much money and time did that take away from you?

11. If there was a different way to start your business what way would it be?
12. Having your business in the Los Angeles area clearly comes with heavy competition, how do you manage to stay in the competition with so many competitors?

13. How do you know how to set up your store? (product placement) 

14. What steps do you take when there is a recession?

15. When its time to cut costs, what do you cut first? Why?

16. How do you balance your expenses? Is that the most efficient way?

17. When times like recession or the competition gets heavy, what are the best ways to cope with stress?

18. When you hire employees, what do you look for?

19. What makes you a good business person?

20. Do you have a business for necessity or for pleasure? Do you like business?