Bob Hayes Hotel Networks: the Interview Bob Hayes - Article Example

Demographics
From the interview, it was identified that an entrepreneur should know the demographic issues related to his or her target market. A comprehensive study on the needs, economic ability, and changes expected in a specific demographic setting are necessary to any entrepreneur so as to enable him or her to make informed decisions.

Motivation
Motivation is the element that keeps an entrepreneur moving. From the interview, it was clear that motivation is a key aspect of the success of a business. Ideally, an entrepreneur should venture into a business which he or she believes in. Bob Hayes and Jim Burke believed in the conference organizing business; hence theory success. Bob Hayes is motivated by the growth which he saw in BHN. He is inspired by the thought of a bigger BHN, hence working towards ensuring that this is achieved.

Business Idea
From the interview, it was seen that a business idea is the first step to becoming an entrepreneur. Ideally, it can be noted that one should venture into a business in which he or she sees potential. In this way, he or she will be able to guide the business to success. In addition to this, a business idea should be transformed from the mind to a paper. A document enables an entrepreneur to point out key elements and objectives of a business. After this, the entrepreneurs work out how the business objectives would be achieved (Bob Hayes 2012).

Challenges
From the interview, it came out clearly that a business is prone to experience various challenges depending on the industry in which it operates. according to Bob Hayes, business organizations should counter challenges by making informed decisions. BHN was faced with the challenge of organizing events in the light of terrorist attacks and threats which were threatening to lead to the cancelation of events (Bob Hayes 2012). However, the company was able to counter the problems by pooling the appropriate mechanisms to provide appropriate solutions to the challenge.

Personality
The personality of an entrepreneur has a lot to do with the success of a business. Bob Hayes believes that good leadership is crucial to an organization’s success. As a result of this, he focuses on leading the organization’s employees from the ground as opposed to the office. This has enhanced teamwork in the organization, hence the associated success.

Family and Support
Lastly, it has come out in the interview that an entrepreneur needs support in order to succeed. Bob Hayes’s support came from his family which enabled him to develop his entrepreneurship skills at a tender age. He has also received a lot of support from Jim Burke his partner.