Growing as a person? Get curious! Asking lots of questions opens up new ways of thinking, helps clear up confusion, and teaches you so much.
Learning from others’ oopsies is the easiest way to dodge making the same blunders yourself. Instead of learning the hard way, why not learn from people who’ve been there, done that? It’s like asking someone smarter to help with your homework so you can learn the ropes faster.
Entrepreneurs are a special breed. They’ve faced tough times and come out on top, ready to share their wisdom. Whether through casual chats, speaking at events, or online classes, many are eager to pass on their knowledge.
They even pack their life lessons into books or online courses. If you ever get a chance to chat with them directly, grab it! But remember, prepping for such a meeting is key, just like getting ready for an important interview. Let’s walk through some tips on how to make the most of meeting these inspiring folks.
Tips for Preparing Meetings with Entrepreneurs
- Time is money: Do not be upset if everyone you request for an interview not accepts to talk to you. In fact, not everyone you reach out to will even reply. People are occupied, so when asking for a call or a meeting, keep it concise and friendly.
- Affirm your case: In your email, tell who you are and what you need in no more than a few questions to answer. Explain why you would like to meet and what you would want to discover about their work.
- Ask for information only: Make it apparent that you are not requesting a job. If a person thinks you are going to ask them for a job, it places too much pressure on them, and they might not like to talk to you.
- Be flexible: Ask if they would be ready to meet for coffee or talk by phone for 10-20 minutes. Confirm that you will work around their program.
- Study about them: Study as much as you can about their business so you can bypass asking obvious questions that their answers can be found online. Research the interviewee on both their company website and on LinkedIn, and check out the company’s social media sites.
- Be prepared: prepare your questions in advance, so you do not need to waste your time thinking about what to ask next.
- Do not rely upon your memory: keep a notebook and pen with you to jot down their life experiences so you can keep reading this and not lose your focus. This will give you a valuable reference to look back on in the future.
Once you are well prepared for taking an interview, now allow us to help you with some important questions you need to ask.
Most Common Interview Questions for Entrepreneurs
Below are the 14 common questions for your guidance.
1. Are you satisfied and what would you change?
Being happy matters a lot. Some business owners have given up their well-being, health, and joy in pursuit of money. But, the truly happy ones are those who’ve found a balance in their life.
Happy entrepreneurs are eager to share their success stories, while the not-so-happy ones can teach you what to avoid. Either way, you get to learn a lot about them and their life experiences. Ken Field shares a simple secret to being happy and successful in business: love what you do. It’s going to be tough, and you’ll face challenges, but loving your work keeps you motivated. It’s what makes you excited to start working early and keeps you going late without feeling exhausted.
2. How to recognize about the right idea you have?
One of the unlucky things about having a business-oriented mindset is that we are creative people. People often call us “the jack of all trades.” Every day, we develop new business thoughts and how we can go about executing them as soon as possible.
With all of these new ideas, it can be difficult to figure out which one to zero-in and concentrate on. Every entrepreneur has gone through this at least once. Asking them how they determined where to direct their focus could inform you what you should focus on yourself
“If you know too much before the start, then you will get overwhelmed. Come up with an original idea, and don’t copy because there will be no passion. You need that otherworldly passion. Just start.” Jeni Britton Bauer
3. How do you plan on expanding your business?
A business that doesn’t grow is actually falling behind. Even if you’re happy where you are, you need a plan for future growth to stay ahead of changing economies and people’s needs. Talking to other business owners about their future plans can help you figure out your own company’s path forward.
Remember, as Napoleon Hill said, “Strength and growth come only through continuous effort and struggle.” This means you have to keep trying and pushing through tough times to grow.
4. What are the Qualities of a Good Leader?
To run a successful business, you need a team and good leadership skills to keep everyone motivated and working hard. You can learn a lot about being a good leader from other entrepreneurs, especially those who are older and more experienced.
Klaus Balkenhol once said, “There’s a difference between being a leader and being a boss. Both have authority. A boss demands you to just follow orders; a leader gets your respect and trust by understanding you.”
5. Do you plan retirement?
Some people start businesses because they love working and always want something to do. These folks probably won’t stop working until they have to for health reasons. On the other hand, some small business owners just want to make enough money to retire early and enjoy a luxurious life. Asking why people become entrepreneurs can give you insights that might help you figure out your own business and money goals.
Arthur E. Morgan said that we should start preparing for old age when we’re teenagers. If you don’t have a purpose in life before you retire, you won’t magically find one when you do retire.
6. What are some of the mistakes you wanted to be avoided?
When you start a business, you’re going to mess up sometimes. That’s just how it is. But, the fewer mistakes you make, the better off you’ll be. If you’re smart, you’ll look at the mistakes other businesses have made and do your best to steer clear of them.
A good way to learn about these mistakes is to talk to someone who’s already been there. Entrepreneurs have been through it all and usually have stories about their mistakes and how they fixed them. They’ve felt the sting of failure and can tell you what not to do.
Michael Dell said, “Expect to fail sometimes, and know you’ll face challenges. But you’ll learn from your mistakes and others’, because you don’t learn much from success.”
7. How did you manage adversity and doubt?
Your friends might not believe in you, your family might tell you to play it safe, and even strangers might hope you fail. The business world can be tough, but seasoned business people with their own battle scars can share stories on how they dealt with hard times and doubts from themselves and others. Their stories can motivate you to stay positive and keep pushing forward.
Paul, the guy who started PJG Financial Limited, a company that helps people in the UK find cheap loans, shared some advice with us: “Keep it simple. What’s your final goal? Is what you’re doing now really going to help you get there? Focus on what really matters.”
Fred Smith shared something too:
“I’ve faced lots of challenges, but it’s all about perspective. My time in the Marine Corps taught me that compared to what some people go through, my life’s been pretty easy. I’ve loved building my company, even the tough parts, because I’ve learned from them. I’ve really enjoyed the journey, and I love what I do now. Running my company is a joy.”
In simpler words, the business world can be hard, with doubts coming from everywhere. But, learning from those who’ve been through it can help you stay focused and enjoy the journey, focusing on your goals and what truly matters.
8. How did you create your team?
Achieving great things needs a class-A team. As much as every entrepreneur likes to be that self-made man who did everything by themselves, this is just a pipe dream that you are better off forgetting. Even if you look at some of the most popular artists and musicians of our era, they would be in oblivion without their team of producers, promoters, and fans.
“Teamwork is the ability to work together toward a common vision, the ability to direct individual accomplishments toward organizational objectives. It is the fuel that allows common people to attain uncommon results.” — Andrew Carnegie
9. How do you promote your business?
Branding and making connections are super important. But the best thing we can do to boost our business is to work hard and provide top-notch service, like Tiffany’s. People talking about how great you are can really spread the word.
But marketing has changed a lot these days. We’ve moved from “push” marketing, where you try to push your message onto people, to “pull” marketing, where you draw them in instead.
Everyone gets bombarded with messages every day. You need to give them a really good reason to listen to what you have to say.
This means sharing interesting and useful stuff that’s relevant to them, stuff they actually want to hear about. And sometimes, you’ve got to be okay with giving away some advice or information for free.
You need to show everyone that your company knows its stuff and can be trusted, both in what you say and what you do.
- Web Site
- Blogging
- Partnerships
- Events & Seminars
- Cold Calling
- Warm Calling
“Word-of-mouth marketing has always been important. Today, it’s more important than ever because of the power of the Internet.” Joe Pulizzi & Newt Barrett
10. What did you learn from failures?
Failures aren’t the same as simple mistakes. Every entrepreneur messes up at times, but these slip-ups are usually not too hard to fix and teach us valuable lessons about what to avoid in the future. Talking to someone who has bounced back from a big failure and become better because of it can be really enlightening.
The insights from such a conversation might be more valuable than any advice you’ve heard before. So, when you face tough times next, you’ll be ready to pull yourself out of trouble and keep pushing towards success.
Maya Angelou once said, “You may face many defeats, but you must not let them defeat you. In fact, going through these defeats is important to understand who you are, what you can overcome, and how you can come out stronger.”
11. What business should I choose?
Usually, the most suitable business for you is the one in which you are most proficient and passionate. For example, if you are trained as a children’s librarian, you may need to think about storytelling. As you evaluate your options, it is advisable to consult local experts and business persons about your area’s opportunities. Coordinating your background with the local market aspects will increase your likelihood of success.
“A winner is someone who recognizes his God-given talents, works his tail off to develop them into skills and uses these skills to accomplish his goals.” Larry Bird
12. What kind of enterprise do I need to build?
Entrepreneurs’ personal objects should also learn the target size of the businesses they start. A lifestyle entrepreneur’s venture needs not grow very large. In fact, a business that becomes too big might stop the founder from enjoying life or enduring personally engaged in all aspects of the work. In contrast, entrepreneurs seeking capital gains must create companies large enough to sustain an infrastructure that will not need their day-to-day intervention.
“You don’t build a business, you build people, then people build the business.” – Zig Ziglar
13. What risks and sacrifices make such an enterprise demand?
Entrepreneurs who work small-scale or lifestyle, enterprises face different uncertainties and fears. Talented people usually bypass companies that offer no stock opportunities and only limited personal growth opportunities, so the entrepreneur’s long hours may never end. Because private franchises are hard to sell and often expect the owner’s daily appearance, founders may become locked into their businesses. They may encounter financial discomfort if they become sick or just burn out.
“The biggest risk is not taking any risk… In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg
14. What do you look for in an employee?
- We need to look at people who are self-motivated and who do not need to be handled.
- We need them to be what we describe triple threats: They have to be able to do the work.
- They have to be able to work and interact with their peers.
- They have to be able to work and interact with customers.
“Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without [integrity], you really want them to be dumb and lazy.” Warren Buffett
Entrepreneurs are hard-working people. If you get a chance to bump into some of the most successful ones, consider yourself lucky if they give you more than a couple of minutes of their free time. You probably will ot have the opportunity to ask them all 14 of these questions in an interview form, but you should always have some of the important ones holding on to the tip of your tongue.
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