Name: Axel E.

Hagosojos
Course&Section: BS- ENTREPRENEURSHIP 3C

PROGRAM AND POLICIES IN ENTERPRISE DEVELOPMENT

Midterm Graded Recitation Output (Interview)

Interview an entrepreneur with registered business (at least in DTI) in your community and ask the
following questions:

Name of the Business: “ Litos Motorcycle Parts and Supplies”.

2. What is your business all about?

-Retailing motorcycle parts.

3. What prompted you to go into entrepreneurship? What year was this?

-For additional income, and you have control over your work hours. 2016.

4. What difficulties have you encountered during the launching of your business then?
-I don't know anything about motorcycles, their parts, and accessories.

5. What steps did you employ to resolve those difficulties?

-My supplier helped/taught me because they are my friends and knowledgeable about motorcycle
parts and accessories. And when I don’t know something, I ask.

6. What lessons would you like to share to entrepreneurship students?

-Learning about a business doesn’t require you to be an expert right away. It’s okay to ask for help or
questions if you don’t know something.

Be detailed in your note-taking and then do your own. Assessment of the answers given considering:

1. The relevance of the reason for launching the business to today’s business environment.

-The reason for launching the business, which was to generate additional income and have control over
work hours, remains relevant in today's business environment, especially for those seeking flexibility and
supplemental income. This is in line with the trends of entrepreneurship and the gig economy.

2.The category of the difficulties encountered as to whether they are: material, financial, cultural or
governmental.

-The difficulties encountered when starting the business, which included not knowing anything about
motorcycles and their parts, can be categorized as a lack of knowledge or expertise. This falls under the
“material” category, as it pertains to the essential know-how and information required for the specific
business niche. It is not directly related to financial, cultural, or governmental challenges.
Summary of the interview:

In the interview, the entrepreneur discussed their business, Litos Motorcycle Parts and Supplies, which
focuses on retailing motorcycle parts. They explained that their motivation for entering entrepreneurship
in 2016 was to generate additional income and have greater control over their work hours.

They acknowledged that one of the major difficulties they encountered at the business’s launch was their
lack of knowledge about motorcycles, their parts, and accessories. To overcome this challenge, they
sought help and guidance from their supplier, who were friends and experts in the field. They emphasized
the importance of not being an expert right away and encouraged entrepreneurship students to ask for
help and guidance when facing unfamiliar aspects of a business.

DOCUMENTATION: