Coding Frame

Coding Frame
Of the Transcript
Name of the Student
Date / Year

Name of the Course

Point Speaker Transcript Coding Framework
1.         Me Recording on the 28th of November 2014, at 7:39. Can you please introduce yourself [?].
2 Richard My name is Richard [?]. I’m a [?] entrepreneur. I run a hair company and I run a software company as well. Hair company is called [Fariha?] Hair and Beauty, and software company is called Community Software.
       3. Me All right. I’m going to ask you a few questions about how you as an entrepreneur and your experience on becoming an entrepreneur and sustaining your entrepreneur skills et cetera.
       4. Richard Definitely.
       5. Me I’m going to run through certain questions with you. Firstly, how did you become an entrepreneur? What made you become an entrepreneur?
       6. Richard I think it was like a process of different things that led to me being an entrepreneur. I think, from young I didn’t know I

wanted to do, and then like in secondary school I started on– I tried to selling like gold bar and penguin chocolate bars but I wasn’t successful but what I learnt from that I learnt like profit loss revenue so those were basic skills I was learning. When I went to college I started building up so I started selling Blackberry cases, Blackberries because at that point in time Blackberry was what everyone was using. I started reselling like PRICHARDs PS3s for people that wanted to sell it and they have like a eBay Amazon account online and then–

1.Entrepreneuri-al Insight
       7. Me So basically you was more– you saw the opportunity in things? That what major the common entrepreneur–
       8. Richard Basically yeah.
       9. Me So could you say family, was your [?] there? What could you say or was is it just many opportunities?
    10. Richard I think it was opportunities. I feel my dad was– my dad is an [?] agent so I think I think I got a little experience from him, but I didn’t learn like– he didn’t teach me the fundamental if that makes sense. I was sort of left to be free. So it was something that I found was basically taking the opportunity out of everything that I saw. 1.Entrepreneuri-al Insight
    11. Me Talking of experience, do you have any pre existing experiences? Do you work? Are you in education? Did you have education? What previous experiences have you got?
    12. Richard I went to college, did my A levels, and I went to university twice. In the first year I did multimedia technology and I dropped out, and then I did international business and then I dropped out because at that point in time I was really running my business so I didn’t see how it made sense. 2.Capability
    13. Me So you couldn’t juggle both things at the same time?
    14. Richard Yeah, exactly.
    15. Me Do you feel that you dropping out was beneficial to your entrepreneurial career, or do you wish you stayed in?
    16. Richard Sometimes I wished  I stayed in because I’m a very academic person. I like a neeky geeky type of person. But at the same time I think in terms of time I think dropping out was the best decision I ever made because it freed up the Monday to Fridays that I had to go to uni for, and it allowed me to basically just go out there and be a full time entrepreneur. So it was definitely a good decision. 1.Entrepreneuri-al Insight

2. Capability

    17. Me So basically as an entrepreneur, you risked basically your education to run your business?
    18. Richard Yeah.
    19. Me Do you feel that for you being there, you had a big impact on your business?
    20. Richard You mean like as an individual?
    21. Me Yeah, as an individual.
    22. Richard Definitely, I think because one of the businesses that I run were a start-up company, so there’s only about three or four of us as a team that work on the director level. So it’s very important that each person is there. For example, someone might do business affairs. Someone might do graphic design. Someone might lead growth. Someone might lead sales. And I think that, strategically, it was very important as an individual for me to be involved in my business, to enable us to grow and move forward. 1.Entrepreneuri-al Insight

2. Capability

    23. Me So you drive your workforce, basically?
    24. Richard Basically, yeah.
    25. Me What type of entrepreneur would you describe as an egotistic leader, as a person where you want people to know you’re the manager or the CEO, or are you an entrepreneur where you let your work speak for itself?
    27. Richard I think I like to let my work speak for myself. I think I’m an entrepreneur that’s what always says– because there’s a lot of people that talk and say they’re going to do this, they’re going to do that, and this and that. I think the best thing is to put the work in and let your work show for you and then when you do that people automatically in a sense chase after you or be interested in what you’re doing, rather than just talking and talking and then nothing comes out. And also it’s more impressive to people when you don’t talk, but you just do something and you pop out with something big that no one really expected you to do. 1.Entrepreneuri-al Insight
    28. Me Okay. All right. And moving onto the next question, talking about your business. How was setting up your business? Did you have any difficulties with it? As you said, you dropped out of university. Was there any other difficulties when setting up your business?
    29. Richard I think on one of the main things was obviously finance, but I think that’s something that you learn to get as you go along. For example, there’s a lot of opportunities for loans and [?] out there, and because I had other things that I could do such as web design and a bit of programming, that enabled me to do freelance work on the side while running my business. It was much easier to finance my business. I think another thing was experience, like learning how to write contracts, do cash flows, understand the profit margins, and I think when you start to run a business those are things that you just learn. 2.Capability
    30. Me How would you say you went through it? How you encountered the problems or the experiences, difficulties.
    31. Richard I had first in terms of experiences, I just went head first.
    32. Me Don’t you think head first you could end up things even worse, or you did it strategically? Or how did you do it? You just went in?
    33. Richard I think the best thing as a young person was to go ahead first, because number one,  I had nothing to lose. I’ve not got a mortgage, I’ve not got kids. And I think that when you do have a business you have to, in a sense, fail in order to appreciate life and then in order to learn from it and then succeed the second time. 2.Courage of Risk Taking
    34. Me Yes. I understand that. And you know your company, do you compete with any other companies? Like similar businesses doing what you doing and [?]?
    35. Richard With the hair, there’s quite a lot of competition, as well as with the software. But I think the main thing that in both that we’ve tried to do is to always differentiate ourselves and make sure that what we’re doing no one else is trying to do. So for example, with the software, we’re trying to build a virtual clinic for the NHS and that at the moment no one else is doing that. So I think that gives us an edge in the market. 1.Entrepreneuri-al Insight
    36. Me That [?] innovative technique.
    37. Richard Yeah. Yeah. I think innovation is very important into business because it sets you apart.
38. Me And do you receive any support from anyone?
39. Richard Mentorship. I receive mentors. I have one or two mentors that I see, not regularly, but maybe every three or four months and you just meet them, you go out for lunch, and you tell them how you’re doing, and they give you advice. So I think that’s what I have, I should receive some advice from my dad because obviously my dad is also a small business owner, so I’ll go to my dad at times for advice, and I have friends that are very business-minded that can also challenge me to be a better person. 4.Support
40. Me Okay. Do you find that support beneficial, everything beneficial?
41. Richard Definitely, definitely. I feel like sometimes being an entrepreneur, a lot of the time you’re lonely and a lot of the time you’re alone with your thoughts, like what if this happens? what if I fail? I think that having that support and having that backbone is very important in order to succeed and even like we look at successful people today, there’s always a backbone. It might not be a woman, it could be like a team, or it could be that friend or mum or dad. I always feel like there’s a person or team behind them that enables them to achieve that goal. 4. Support
42. Me Okay. All right then. Has being an entrepreneur, some entrepreneurs has that skill of innovation as you said before. And you said you have a hair business and a software business. How is your idea, your businesses different from the rest?
43. Richard I think with the hair business, I think initially we look the same, I think in terms of expansion and in terms of growth we’re very  different and we aim to be very different. With the hair company, based on what we’re doing is we [?] hair extensions but in the future we’re aiming to actually out there and to actually bridge in to many of our products such as natural hair, natural products, wigs. And that’s something I’ve compared that have been on the market for years haven’t learned. They’ve just focused on virgin hair. So I think that’s a way that we’re going to be different. And I think with the software what makes us different is the way that we deal with clients. We care for every single client. For example, now that we’re working with the NHS, when we speak to NHS trusts and private doctors we actually speak with them, have a phone call, have a chat and actually see how their needs correlate with what we can build. So I think that approach and how we aim to grow is much different from other businesses. 5. Ethics and Corporate Social Responsibility

6. Creativity and Innovation

44. Me What about you as a entrepreneur? I’m thinking singularly. How are you innovative?
45. Richard I think one thing I do is that I read a lot and I think a lot. I think if you read a lot – reading is like– I don’t know. I feel like reading is extremely important because it gives you the knowledge. While I think thinking is also extremely important because it gives you the opportunity to actually think on your own when no one is [?] actually– 6. Creativity and Innovation
46. Me Visualize, yeah.
47. Richard –come out with something or visualise and actually strategise and I think that’s the way to breed innovation. 6. Creativity and Innovation
48. Me Okay. So, I hate to ask about ideas, but do you have any more ideas that you’ve got underneath or you need to–?
49. Richard [?].
50. Me Do you think of ideas regularly?
51. Richard I think of ideas regularly. Some I forget, some I remember, but I think there are some recurring ideas that I have. One of them is in the future to invest in ethnic minority backgrounds, to invest in ethnic minorities or individuals from those kinds of backgrounds that have business ideas and need a push, and may not have the facilities or what they need in order to progress. 6. Creativity and Innovation
52. Me Okay, that sounds good. Secondly, now this is about your entrepreneurial marketing techniques, how are you? Are you more customer focused , opportunity focus? Like me, for example, I’m a bit of both. If I see a customer I like to satisfy that customer by doing this or doing that.
53. Richard Yeah.
54. Me However, if I see an opportunity here I will still take advantage of that opportunity.
55. Richard Yeah.
56. Me So I always show customer focus as an entrepreneur.
57. Richard I think it’s very extremely customer [oriented?] because I think a lot of entrepreneurs when they start their businesses, all they think about is money, money, profit, profit. And I think what you have to understand is that if you meet the needs of your market, the money will always come in. So I think the aim as an entrepreneur is to be extremely customer focused. And when you are customer focused, the money will automatically come in because you’re satisfying the customers’ need and they’re paying you for that. 7.Customer Oriented
58. Me What about opportunity?
59. Richard I think opportunity is when I can and I think– yeah, I think I just chase that when I can. But I think if I’m [?] opportunity, I’m chasing opportunity. When something else comes that’s not as big as the one I’m currently chasing, I think I’ll leave it. Because I think it’s about balancing and strategizing and looking for the right opportunities and the right chances to take. 1.Entrepreneur-al Insight
60. Me Sounds good. As a person of authority or entrepreneur, do people look at you differently? How do you brand yourself – your dress and your posture? How does people know that– how do people address you?
61. Richard I don’t know. I think it’s different for different people. But a lot of the time, I just try and be me.
62. Me I see you’re looking presentable, majority of the time I see you. Is that your type of technique to network with different people or the example you want to lead, or is it just that you in general are [I was going to?] because , because [I don’t know?].
63. Richard I think is a cooperate culture thing. I think the more I go into cooperate environment, the more I realised how important it was to dress in a presentable way and I think that’s what sort of led me to start dressing smart because it gives a first impression and it says “This guy is serious, this guy know what he wants.” 1.Entrepreneur-al Insight
64. Me Talking of dressing, how do you network with different people? What’s your method of networking? [?] as an entrepreneur there is various online platforms like LinkedIn or you go to meeting, how do you network with different people?
65. Richard Two of the platforms that I use a lot are LinkedIn and Twitter. I use LinkedIn because obviously is a professional social network. sometimes I like add random people that could help me and I send them a message. I am on Twitter a lot because a lot of businesses are using Twitter for engagement, for advertising. Also go to a lot of meetings and meet ups. There’s a site online called 8. Networking and Communication
66. Me Okay.
67. Richard And they have meet ups for every single thing. They have psychology meet ups, medical meet ups, and they have so many business and technological meet ups. So I try and make sure I’m at every meet up or as many as possible because it just means that I can network with more people, get more emails, contact more people, I mean just more opportunity. 8. Networking and Communication
68. Me As you say, you’ve got LinkedIn, and you use various other Internet based platforms.
69. Richard Yeah.
70. Me Do you benefit from these things like supply? Like to benefit from supplies as you have your own air companies, [?] companies. Do these online platforms help you find supplies for your personal business?
71. Richard Supplies, yes definitely. I’d say like supplies and partners. 8. Networking and Communication
72. Me Okay. All right. And talking of demographic groups, do you tend to niche yourself to one group or are you open to a lot of people?
73. Richard I’m open to everyone. 8. Networking and Communication
74. Me Open to everyone.
75.  Yeah, I think to to succeed you have to be…I think it depends on what type of business you’re running, but I think that personally as an entrepreneur if you really want to go out and then get yourself known I think that the best thing to do is to open yourself up to as many groups as possible rather than just stay in a demographic location because then it just limits your potential. 8. Networking and Communication
76. Me Okay, now moving on to finance now, do you receive any external support from any thing [?]
77. Richard No, at the moment both businesses are a bit strapped so it’s basically everyone putting their personal finance in. I think maybe later on, if we want to grow on more we need that extra finance, we may go out to look for it. But I think for now we’re comfortable where we are.
78. Me Why do you see you’re comfortable?
79. Richard I don’t know. I just think that in terms of what I want to do with my businesses now, I think that we are where we are.
80. Me Where we are. Okay. Done, so and you’re looking to expand anytime soon, and you’re looking to reinvest in business?
81. Richard Definitely. I just think that sometimes like when you’re doing certain things in business, it’s just important to work, work, work, rather than going out there and seeking finance. 2.Capability
82. Me That’s a good skill because a lot of entrepreneurs that I’ve spoken to in the past, they tend to be greedy and just do everything straight away. But being content for the meantime is a very good trait. So I guess that your business is turning over [to an asset?].
83. Richard Sometimes business is like, I always say like a business is like a bike. Sometimes you ride, sometimes you fall. Sometimes you’re slow. Sometimes you’re fast. But, I think the aim is to always put yourself in a position where you can make money in other ways. For example, every single person that I work with on my team, has a skill. Someone might have graphic design. Someone might be a really good [?]. Someone might be a really good salesman. I think, if you ever need to boost up or run your business by yourself or you’re thinking of where to get finance, you can get it from yourself, and go out there and use your skills to make money through web design, through graphic design, through selling, through teaching. Whatever it is to build your business that you need to do, if you don’t want to seek external finance. 1.Entrepreneuri-al Insight

2. Capability

6. Creativity and


84. Me I’m just going to do it. [Sorry?]. Are you looking to seek external – like from government, family and friends – in the future? Are you looking to–?
85. Richard In the future I’d definitely. I think–
86. Me Even from family and friends? From government?
87. Richard I think, in the future with the software we’re looking to get investment from, maybe external investors, or from the government. But we’re looking to get investment from people that actually understand the market, and aren’t just there for the profit. Because at the end of the day we are trying to solve problems, and we need people that will invest, that will understand that we need to solve problems. 8. Networking and Communication

7.Customer Oriented

5. Ethics and Corporate Social Responsibility

88. Me As you said you’re customer orientated–
89. Richard Customer orientated, yeah. 7..Customer Oriented
90. Me –orientated as well, so– Yeah, that sounds all right, especially the software industry as well in the future, me personally, I believe is going to be beaming–
91. Richard Definitely.
92. Me –because the way technology is now. It’s just evolving, evolving.
93. Richard Of course.
94. Me All right, then I want to [?] your future [?]. What kind of risks are you facing at the moment or in the future?
95. Richard Risks?
96. Me Yeah.
97. Richard [?] number one risk is always the risk of failure. But I think you have to have the right mindset, always realise there there’s always a possibility even if you do fall, you have to get back up. I think that’s one of the main traits of entrepreneurs. Even if you look at entrepreneurs in the past, you always see that they failed in some way, or they fell in some way. Whether it’s Steve Jobs, he got kicked off Apple, Bill Gates dropped out. He had stock before that he failed. There’s always something before that they failed at that they succeeded. James Dyson made 5,000 prototypes before he had one successful prototype. If he had given up, he would have never gotten to– 1.Entrepreneuri-

al Insight

2. Courage to take Risks

9. Persistence

R Me Seen the future.
99. Richard Exactly. He would have never succeeded. I think that’s one of the tips, to be persistent and to never give up. 9. Persistence
100. Me Do you have any future plans?
101. Richard Yes. I think one of my aims in life is to help people that are disadvantaged, because growing up, for example, I went to Nigeria when I was about ten to 13. I went to school for three years. I saw a lot of people there that were disadvantaged. I think in the future I want to go back to those places, even go back to places where I grew up and really see how I can help them, whereas [building?] youth centres, building gyms, providing extra educational facilities for children. Like in Africa providing water, providing wells, whatever it might be that I can do to help. I really want to do. I want to go back to my roots and invest and really help– 4. Ethics and Corporate Social Responsibility
102. Me Can give back to the community?
103. Richard Give back. Yeah exactly. 4. Ethics and Corporate Social Responsibility
104. Me As you said, you got your software and hair company, don’t you feel expanding to these type of areas, is that in you mind?
105. Richard Definitely, Definitely. I think with the emergency of things like the Internet. I think the Internet has made that very, very possible to do so. Whereas like maybe 50 years ago to expand, you have to open a new store, now that you are online, you can simply market to another location, market to another demographic. I think the Internet makes that possible and that’s something I’d definitely thinking of going international. We want to continue to grow and we don’t want to ever [?] because that’s just becoming complacent. 10. Planning
106. Me I see. What do you plan for your business to be in the next five years, then?
107. Richard In the next five years, with the hair thing we want to become a major retailer and wholesaler in the UK and internationally. So selling different types of products, different types of hair extensions. And with the software, I think that we want to be able to disrupt the NHS and the private medical industry by providing software that allows patients and GPs and doctors to communicate [without?] actually seeing each other face to face. 10. Planning

11.Managing Innovations

108. Me So do you want to compete with Apple or Microsoft, or don’t you want to be a [?] no more?
109. Richard Honestly, I think it depends.
110. Me It depends?
111. Richard Yeah, I think I might say something now and then tomorrow think of something else. But we definitely want to grow and we definitely want to expand. 12.Goals
112. Me What about you as an entrepreneur? What do you plan as an entrepreneur to be in the next five years?
113. Richard In the next five years, probably a much better entrepreneur and a much skilled person than I am now. I want to learn many more things that will enable me to grow even more. You never know, I could be doing the same thing I’m doing now, or I could be running another business. But I think I definitely want to stay as an entrepreneur and stay solving problems that people and markets have. 12. Goals
114. Me [?] in the UK or are you looking to go international?
115. Richard Definitely looking to go international. 12. Goals
116. Me Within five years?
117. Richard Yes, definitely within five years.
118. Me And finally, what kind of advice would you give to potential entrepreneurs that are still coming up, still learning, from your experiences?
119. Richard I would say be assertive, accept rejection, and never give up. When I was being an entrepreneur a lot of the time I was passive and it meant that I couldn’t take advantage of opportunities, and I think that now I’ve learned to be a lot much more assertive. I think that with rejection, you should learn to handle rejection, because you’ll always get rejection, especially when you’re starting up. You could send 100 emails and get two back. But you have to learn to deal with that. You have to be so strong. And the last one is never give up, because you will experience hardship, will experience failure, but you have to get up, have to continue getting up, because at the end of the day that’s what makes entrepreneurs. If every single person never gave up, everyone would be super successful. But I think that’s what sets you apart, is the ability to keep going on. So I think that yeah, one of the pieces of advice I’d give is never give up. 1.Entrepreneuri-al Insight

9. Persistence

120. Me Never give up.
121. Richard Yeah.
122. Me That’s very inspiring, as me myself, I’m an entrepreneur myself, and I’m looking to expand internationally soon. What advice would you give me?
123. Richard I’d say learn the culture of the place you’re planning to expand to because I think that the culture is extremely important. For example, Walkers crisps could sell another variety, or it could be in a different form of brand, so I think one thing is to learn the culture, because the culture affects business, because effectively is the way of life. So I think it’s learn the culture, learn the respect, and just be you, just be you. 1.Entrepreneuri-al Insight
124. Me All right then. Thank you, Richard.
125. Richard No worries.
126. Me It’s a pleasure having you here to interview.
127. Richard You’re very welcome.
128. Me I wish you the best of luck in your business.
129. Richard Thank you, same to you.
130. Me And you as an entrepreneur.
131. Richard Thank you. I wish the same for you.
132. Me Thanks.

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