Entrepreneur Interview Analysis Essay

An entrepreneur has to demonstrate basic characteristics such as self-motivation and creativity to succeed in a business venture. Entrepreneurs are people who realize and evaluate business gaps and develop possibilities to fill them. The moment the lecturer explained the entrepreneur interview report I knew exactly who to interview for my report. Every evening I watch the news, documentaries on television or listen to them over a radio I hear the same topic over and over again. I had a chance to sit down with Lizhen Mu the chairman of Juchen Cable Company which produces cables and wires. The company has been operating for the last five years and has been doing well in the market. Although Juchen Cable Company is not known by most people it has the growth potential as it produces quality cables and wires and most people have noted the difference between them and the other companies.

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Lizhen Mu grew up in China and his parents operated a small business enterprise. The company manufactured aluminum building wire. Mu would work with his parents during holidays and this was his first exposure in the business world. His loved working in the production department and would develop new designs of products that would sell at a high price. The company collapsed after the death of his father because there was no one with similar skills to manage it. When he completed his high school education he moved to the United States where he secured a job with a fan company. He did not like the management at this company and therefore he looked for another job in the Loos & Co Company which is located in Pomfret Center. The company produces cables, cable assemblies, and wires and other cable products. He worked for twenty years in the production center where acquired knowledge and experience in cable and wire production.

He was inspired to start his own business when he learned the demands of cables in the markets. All sectors buy cables and wires for instance aircraft industries, building, and constructions companies, automotive, medical, etc. Lizhen Mu discovered the demand for quality wires and cable was high and decided to venture in the business. I was surprised to note that he never attended any college to learn how wires were produced but as they say experience is the best teacher. According to Mu one of the most challenges of starting a business is capital because he said that his savings were not enough and had to borrow from banks and family members. He had prepared a business plan that helped him to analyze funding options and set logic goals which could be achieved.

There are three major theories of leadership that entrepreneurs use to solve problems in organizations. These include behavior, situation, and skills theories. Although Mu could understand the differences between them I noted that he utilizes the skill theory. The skills theory is similar to the behavior approach because it also assumes that leadership is not inherited. It also assumes that any person can learn and develop a particular set of leadership skills. The main emphasis of the theory is the abilities that make leaders effective. Therefore the most effective approach of leadership is the skilled approach because it offers an opportunity for people to learn the human, technical, and conceptual skills that are used to lead others at different managerial levels.

On the question about future goals, Mu responded that in ten years his company among the leading cable companies globally. The company products last long and he differentiates from others by selling them at relatively lower prices. The company will also continue marketing in different countries across the world. His advice to people who aspire to become entrepreneurs is that they should work in related companies to gain experience. They should also seek guidance from successful entrepreneurs.