diff --git a/6th-Semester-Spring-2024/EnI/Assignments/entrepreneur_interview_notes.md b/6th-Semester-Spring-2024/EnI/Assignments/entrepreneur_interview_notes.md new file mode 100644 index 0000000..4c7bef3 --- /dev/null +++ b/6th-Semester-Spring-2024/EnI/Assignments/entrepreneur_interview_notes.md @@ -0,0 +1,55 @@ +What is your professional background? +- investment wholesaler +- many in this area follow a similar track + +What led you to start your own business? +- always been in financial serivices +- in corporate side, customers were financial advisers + - learned advantages/disadvantages +- wanted control of calendar and compensation +- salary + sales quotas +- didnt feel underpayed +- not direct correlation between efforts and compensation +- no corporate buffer when self-employed (what you put in is what you get out) +- valuing time vs. money +- more control over travel (lots of travel selling investment products) + +What was the process of starting the business like? +- lots of things to juggle (hiring, firing) +- started business with a client from corporate world +- having multiple people leading makes the company more robust +- having a succession plan + +What company are you franchised under? +- ameriprise financial +- under contract, but could leave the franchise +- could join a different franchise or become independent +- registered investment advisor (more entrepreneurial) +- spectrum of employee to entrepreneur + +What kind of business is it +- franchise makes business run more smoothly + +merge with other ameriprise practice +ameriprise is most expensive but probably worth it +protocol for leaving +- ameriprise own client files +- keep clients, but ameriprise alerts them that practice is no longer affiliated + +Selling the business + + +self-employed +franchise circular +corporate employee - enterprise financial +- use investment products +- financial advisor + +PROS & CONS of franchising +- parameters +- framework +- requirements +- compliance (highly regulated business) + +- responisble for own expenses (no salary) +- corporate has expense account