Scott Cathcart

Entrepreneur | Impact Investor | Triathlete

Interview Questions to Ask an Entrepreneur

Half of all businesses never succeed or never become known outside of their local communities. All business-savvy people know that having an idea and turning it into a reality are two separate worlds. Success is what makes entrepreneurs special and interesting to learn more about. There are certain interview questions that are necessary to ask an entrepreneur.

What is the main inspiration behind the business?

Every business is inspired by an idea that developed shortly before or decades before the business was first launched. Every entrepreneur has a personal history of what he or she was doing before the business started and the events that happened as it built its momentum. This is one of the most important questions to ask a business owner because one person’s inspiration will become the same inspiration for another person.

What changes are ahead?

Every business owner should predict the changes that are ahead in a span of one, five or 10 years. Some owners plan to expand globally and increase their sales, some businesses may plan to merge with another company while others plan to change their C-suite leadership. Change in business is inevitable and important for both current and future investors and consumers to know.

Is the location important?

Sometimes, the geographic location of the company is important while other times it is not. Deciding where to establish a business’s headquarters can be sentimental if the idea was conceived there or the first product was sold there. It could be a strategic move to place the company in an area that guarantees the most sales and customers. Asking this question helps other business people know if choosing the right location should be a priority or not.

Is the drive ending?

Every innovator gets excited about pursuing a goal in the beginning. As a decade or two drags on, the motivation wears off as the work becomes more predictable and repetitive. Every leader has moments when he or she is unmotivated to continue leading the company. It’s important to know when the magic starts to disappear and when it is time to pursue other interests.

Conducting an interview with a successful entrepreneur should be an eye-opening experience and not another dreaded task. It’s the opportunity to know how an individual from a modest background can become highly successful and wealthy by starting out with a simple idea. Preparing the most insightful and engaging questions for this type of interview is recommended.

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