Fundamentals of Entrepreneurship Report: 365 Cups Founder Interview

This report presents an interview with Simone Eyles, the founder of 365 Cups, a coffee ordering application. The report delves into Eyles' entrepreneurial journey, her inspiration for starting the business, and the factors that contributed to its success. It discusses the importance of technology, customer focus, and believing in one's vision. Key insights include the significance of executing ideas, adapting to trends, and maintaining financial awareness. The report also highlights the importance of market research, time management, and organization. Eyles' insights are presented for aspiring entrepreneurs, emphasizing the need for innovation, risk-taking, and a commitment to delivering value. The interview concludes with lessons learned and advice for young entrepreneurs, including the importance of planning, execution, and continuous learning. This report is a valuable resource for understanding the fundamentals of entrepreneurship and gaining practical advice from a successful founder.

RUNNING HEAD: Fundamentals of Entrepreneurship
Fundamentals of Entrepreneurship
Interview with Simone Eyles: Founder of 365 cups

Fundamentals of Entrepreneurship 1
Table of Contents
Introduction...........................................................................................................................................2
Simone Eyles: Founder of 365 cups.......................................................................................................2
365 cups and inspiration for the business.............................................................................................3
Conclusion.............................................................................................................................................6
References.............................................................................................................................................7
Appendix...............................................................................................................................................8
Interview Questions..........................................................................................................................8

Fundamentals of Entrepreneurship 2
Introduction
Entrepreneurship can be understood as the capacity of an individual to develop and manage a
business by taking risks and rewards in return. For being a successful entrepreneurship, a
person needs to have a particular set of characteristics and skills which helps in getting
success to the business (Nandan, 2013).
This report has been prepared with an aim to discuss and focus on the significant insights
given by the entrepreneurs who achieved wealth and success in the recent years. This report
is based on the interview conducted with Simone Eyles, who is a founder of a coffee ordering
application which helps users to order through technology. The meaningful insights given by
the fresh and young entrepreneur will be discussed so that much can be learned from her
experience and hard work.
Simone Eyles: Founder of 365 cups
The interview is held with the founder of online ordering venture 365 cups, Simone Eyles.
She is a women entrepreneur and is successful in her business. 365 cups is a platform where
the users can place order from all over the world right from the small rural cafes to the large
multinationals. The business runs on technology and Simone Eyles started from 365 cups is
now serving up to 45000 users in Australia and New Zealand. Simone Eyles, the founder of
the venture shares her experience in an interview that she had a long held dream of opening
her own café which is why she came up with the idea of 365 cups (Shying, 2014).
From her background, it is clear that she is the proud owner of two businesses which
are 365 cups and Working spaces HQ. For starting a business like 365 cups, the founder
shares that with the help of technology, she is able to serve huge number of customers across

Fundamentals of Entrepreneurship 3
Australia and New Zealand. The brand started with an application and now has 3 stores in
New South Wales. So, basically from a small city of Wagga wagga, the founder reached the
whole country.
365 cups and inspiration for the business
365 cups is all about linking the customers with the infrastructure, service and technology so
that the needs of the tech savvy customers can be met. The customers now, order from their
laptops, phones, tablets and the list goes on. The founder shares that the biggest influencer to
stat up this business is the people who are in her support. The women inspire her to be the
successful and honest entrepreneur. She clears that the natural progression in her success of
the business inspired her more to go ahead (Drucker, 2014).
The founder explains that she influence others by executing the ideas. Getting ideas or
planning about them is easy but executing them is something which needs courage and is the
most required skill for a successful entrepreneur. This shows that the young entrepreneurs
should start with a good idea, the money and success will follow slowly and gradually. The
founder believes in people. She likes talking to its customers and getting connected to them
(Carter & Jones-Evans, 2009). The wall is provided to the customers where they can post
their reviews, photos and messages which is a kind of promotion and advertising. The
business also advertises itself on Twitter and Facebook which involves a lot of target
customers. From this, I learned that it is important to believe in your people when you want
to carry on business with them. An entrepreneur should be honest to its people and should
take along its people which will ultimately contribute to the success of the business (Kirzner,
2015).
The founder believes that getting connected to the customers and adapting technology
and trends made the business successful. It is anticipating even the worst case scenario which

Fundamentals of Entrepreneurship 4
helped the entrepreneur to struggle and push forward the business. The founder also
discussed the importance of planning in setting up the business and to face and compete with
the worst scenarios of the business. Also, tracking the financial progress is equally important
so that the money earned can be uti8lisedeeffectively and do not get waste. Being organised
is another key tactic which is needed to manage business. The resources need to be organised
and back up resources need to be maintained (Wiklund, et al., 2011).
Entrepreneurship as per the founder of 365 cups is delivering the value consistently
and having clarity of thought. An entrepreneur needs to have the understanding of his/ her
own business and how it will contribute in the life of the consumers. Success, on the other
hand is taken as the security in terms of finances and profession (Naudé, 2010). It is getting
the support from the people and being admired by them. To the young entrepreneurs, the
founder suggests that there should be a level of responsibility with the people working in the
business whether it’s a family member, friend or employee. Today, an entrepreneur should
focus n the presentation of the business which is both offline and online. Promotions of the
business can lead it to success. An entrepreneur listens to the heart and should put those
ideas into execution by continuing listening to them. Also, the suggestions and the
recommendations given by others should be considered for delivering better results to the
users (Kuratko & Audretsch, 2009).
The interview conducted made me learn that it is important to plan the idea and to
execute it well. But the most important thing is to continue it. The success should be
celebrated when more success is gained. I gained insights that a market needs new
innovations and ideas so thinking about business is not a bad idea. It is very important to have
thinking like an entrepreneur where one takes initiative, ready for the risks, have flexibility
and generate secure future (Langevang & Gough, 2012). A good market research is
important to get a rough idea about the market and the business idea will run or not. To

Fundamentals of Entrepreneurship 5
encourage the spirit of entrepreneurship, support is necessary from the family and friends.
On a personal level I learned that when proper Research and development is not done in the
market, it discourage the business and create chances for failure. It is also very important to
manage time and organise business activities in a way which leads to the success of most of
the business plans (Awogbenle & Iwuamadi, 2010).
The valuable insights gained from an interview include the learning that there is
something to learn always from each other. One person does not know everything. An
entrepreneur should embrace what makes him/ her unique. Every entrepreneur is unique in
own sense and this brings innovation ain business. The lessons learned from the successful
entrepreneur increases the chances of getting success. Working with people is another
important learning (Littunen & Niittykangas, 2010). It is people who bring change by
supporting the ideas and business of an entrepreneur. It is important to believe in own ideas
and concepts so that the entrepreneur is able to influence others. It is also very important to
follow and abide by the trends and technology without which the business will be out-dated
and will lack innovation. New and different always attract the attention of people and help in
gaining success and praises from most of the people. In all, in the age of globalisation, the
business should be ready to accept the changes and manage diversity in the cross cultural
business environment of business (Arogundade, 2011).

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Conclusion
To conclude, I would say that this interview has provided deep and valuable insights which
would not have been possible otherwise. The findings of this interview or report prepared
will be meaningful and will contribute in the process of being a successful entrepreneur. I
have my own plans in future to start up a business which is influenced by the views and
opinions of the famous entrepreneur like Simone Eyles. I learned that one should not be
afraid of taking risks and delegating tasks to the people in the team. I learned how to organise
things and time together to make the optimum use of it. This can be used by me in visualising
my goals and success. Also, effective communication and listening properly could reduce
misconceptions created among the team members which could reduce the quality of
performance. Time is valuable which could be used properly to create effective results in the
business. I learned that it is very important to create your own value in the world. It can be
done by keeping the things simple and by being a self-motivator in the world of business
where there is tough competition. It is noted that being an entrepreneur is not easy rather it is
about maintaining a perfect blend of friendly and professional attitude for the followers and
with the clients. Everyone is to be treated respectfully to lead everyone without any hesitation
in anyone. This interview could be a game changer for me and my business plans in future.

Fundamentals of Entrepreneurship 7
References
Arogundade, B B (2011). Entrepreneurship education: An imperative for sustainable
development in Nigeria. Journal of emerging trends in educational research and policy
studies (JETERAPS), 2(1), 26-29.
Awogbenle, A C & Iwuamadi, K C (2010). Youth unemployment: Entrepreneurship
development programme as an intervention mechanism. African Journal of Business
Management, 4(6), 831.
by Sara Carter, E & Jones-Evans, D. (2009). Enterprise and small business: Principles,
practice and policy. Strategic Direction, 25(5).
Drucker, P (2014). Innovation and entrepreneurship. Routledge.
Kirzner, I M (2015). Competition and entrepreneurship. University of Chicago press.
Kuratko, D F & Audretsch, D B (2009). Strategic entrepreneurship: exploring different
perspectives of an emerging concept. Entrepreneurship Theory and Practice, 33(1), 1-17.
Langevang, T & Gough, K V (2012). Diverging pathways: young female employment and
entrepreneurship in sub‐Saharan Africa. The Geographical Journal, 178(3), 242-252.
Littunen, H & Niittykangas, H (2010). The rapid growth of young firms during various stages
of entrepreneurship. Journal of Small Business and Enterprise Development, 17(1), 8-31.
Nandan, H (2013). Fundamentals of entrepreneurship. PHI Learning Pvt. Ltd.
Naudé, W. (2010). Entrepreneurship and economic development. Springer.
Shying, O 2014, ‘365 cups become reality’, The Daily Advertiser.
Wiklund, J, Davidsson, P, Audretsch, D B & Karlsson, C (2011). The future of
entrepreneurship research. Entrepreneurship Theory and Practice, 35(1), 1-9.

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Appendix
Interview Questions
1. Tell me about your background and your motivation for success and growth in life.
2. What led you to the idea of starting the business venture?
3. What is your business all about?
4. What is your biggest influencer to start up 365 cups?
5. How you think you influence others?
6. How do you advertise your business?
7. What has made you and your business successful?
8. How would you define entrepreneurship?
9. How do you define success?
10. What advice will you give to young entrepreneurs who want to start new business?