Entrepreneurship and Business Strategies

This assignment provides an in-depth analysis of an entrepreneur's journey and business strategies used to achieve success in the care home industry. The entrepreneur shares their experiences, challenges, and key takeaways, highlighting the importance of leadership, customer base, advertising, innovation, and teamwork in driving business growth. The assignment covers topics such as partnerships, greatest failures, and lessons learned, providing a comprehensive understanding of entrepreneurship and business strategies.

Individual Research
Report

Table of Contents
INTERVIEW QUESTIONS............................................................................................................3

INTERVIEW QUESTIONS
1.) Could you please describe in couple of words your business? What’s your company’s
goals?
Home Instead Senior Care UK Ltd is world's leading home care company which provide
the non – medical care to the old age people. Services provided in their home where they feel
more conformable or happy. Family members are relax after connecting with Home Instead
Senior Care who take care very well. UK franchise was developed in the year 2005 and now it
become leading home care service provider. Home Instead Care UK Ltd provide various
solutions such as companionship, home help & housekeeping, personal care, dementia care
including Alzheimer's disease, respite emergency home care etc.
Goal of the company is to provide is home care services to the old age people at their
own home where they feel very happy and comfortable. Because our company believe that, age
should be celebrated and make every people to live happily. This company provide services to
the old age people, so they live comfortable or independently in their home.
2.) How did you come to this idea and name of business? Did someone inspired you?
Company founded by Paul and Lori Hogan in the USA where, they take care Paul's
grandmother and then they get the idea about home care services to the old age people. This idea
work because Paul's grandmother live more then their expected life. This incident inspired them
to found this kind of company or help other families too who wanted to increase their family
members life more then expected. After this, Paul or Lori Hogan establish the company name
that is Home Instead Senior Care, which help the older people to comfortably live or enjoy their
life with someone's care.
So basically, their grandmother inspired them to build this home care company. After
getting idea they prepare business plan for the further implementation. For this, firstly they have
to done research in various area for the identification. So they develop their strategies according
to the market of customer's demand.
3.) How many employees do you have?
Total 53 employees work under Home Instead Senior Care company who help the old
age people to live comfortably, independently or enjoy the life with someone who always with
them to listen.

However, throughout the interview, there were several theories which were quite relevant
as per the responses and how well these were applied in relation to effectively conduct the
business
4.) How did you raise funding for starting the business activity?
The funding of the care home was a critical task. To generate this, it was important that
appropriate sources are utilised, for which, crowdfunding has been used a source. Another source
was Government Funding as the care home would be operating under the supervision of NHS.
5.) How do you build a successful customer base in a market already saturated with SMEs?
To achieve a strong customer base, we studied patterns of their acquisition of health
services and their preferences in terms of choosing the most appropriate care home. Thus, all the
facilities available within the organisation are as per the customer's preferences.
6.) How do you advertise your business?
Similar to building the customer base, the advertising of the care home has been
subjected to the interests of the public, i.e., what they like, what they view, which social media
channels they use, all of this has been a part of advertising strategy by the organisation.
7.) What's is your competitive advantage and why can't it be copied?
The biggest competitive advantage within the organisation is the new and innovative
ideas and plans which the care home adopts in context with providing care for other individuals.
For example, the care home regularly indulge itself in thorough market analysis, which allows
the organisation in examining its current practices and methods used for providing care and
adopt new and innovative methods for the same. Innovation has been the key for competitive
advantage.
8.) What were the risk you are facing in daily activity? How about motivations?
There are various risks that we face in our daily activity. Sometimes, the care
professional take a leave on an health evaluation day. Another risk which is constant is the
sanitation and cleanliness within the organisation. I get motivation through being recognised in
the market and more people indulging themselves in our care home, seeing our effectiveness and
quality services.
9.) Do you considered any partnerships?
I did not consider any partnership option at first as I was quite inclined as well as inspired
by the idea of family business. Furthermore, I believes members of a family being close

acquaintances could provide immense benefits and long term trust which is essential for the
business.
10.) What Was Your Greatest Failure and What Did it Teach You? How you overcome it?
My biggest failure was a previous failed venture which taught me the importance of
leadership. I overcame it by developing appropriate leadership skills and using several different
styles and approaches necessary for the same.
11.) What Was the Most Important Part of Your Whole Business Journey?
The most important aspect, according to me, was the support of his work force. I give all
the credit to my employees employees of the care home and all the managing team for the
success of his firm and my success as an entrepreneur.
12.) If you would have the opportunity of starting over from the bottom, what would you have
done differently?
In that case, I could have worked more effectively towards developing all those necessary
skills which are essential in order to appropriately succeed as an entrepreneur.
13.) Last but not least, could you please describe in couple of words what was your key force to
become an entrepreneur? How being an entrepreneur affected your family life?
According to me, it is very essential for entrepreneurs to dedicate themselves effectively
within their work. It is very important for me to maintain a balance between their venture as well
as their personal life. There are various times where the work overtook my personal life, which
came up with quite few challenges which caused quite hardships in my work. To become a
successful entrepreneur, it is very important to be consistent in handling all the operations of the
company. Furthermore, it is also very crucial that entrepreneurs motivate others and build an
effective team which helps to keep up with the essential activities and ensure success of the
business venture.
14.) As a conclusion do you believe there is some sort of pattern or formula to becoming a
successful entrepreneur?
A democratic leader could be successful in any industry as they would be getting support
of their team. I believe regular consideration of views and actions of employees is a must to
succeed as an entrepreneur.
15.) If you had a magic stick, which are the three things you would change in the world?

There must be more humility in individuals and must work together, with utmost unity to
make the world a better place for future generations.