Assignment Task:

The interview: Questions for gathering information

  1. Would you tell me about yourself before you started your first venture?
  2. Whom else did you know while you were growing up who had started or owned a business, and how did they influence you? Anyone later, after you were 21 years old?
  3. Were your parents, or close friends entrepreneurial? How so?
  4. Did you have role models?
  5. What was your education? In hindsight, was it helpful? In what specific ways?
  6. Did you have a business or self-employment during your youth? In particular, did you have any sales or marketing experience?
  7. How important was it, or a lack of it, to start your Company?
  8. When, under what circumstances, and from whom did you become interested in entrepreneurship and learn some of the critical lessons?
  9. Describe how decided to create a job by starting your venture instead of taking a job with someone else.
  10. How did you spot the opportunity? How did it surface?
  11.   What were your goals? What were your lifestyle needs or other personal requirements? How did you fit these together?
  12. How did you evaluate the opportunity in terms of the critical elements for success? The competition? The market? Did you have specific criteria you wanted to meet?
  13. Did you find or have partners? What kind of planning did you do? What kind of financing did you have?
  14.  Did you have a start-up business plan of any kind? Please tell me about it.
  15. How much time did it take from conception to the first day of business? How many hours a day did you spend working on it?
  16.  How much capital did it take? How long did it take to reach a positive cash flow and break-even sales volume? If you did not have enough money at the time, what were some ways in which you bootstrapped the venture (bartering, borrowing, and the like)? Tell me about the pressures and crises during that early survival period.
  17. What outside help did you get? Did you have experienced advisors? Lawyers? Accountants? Tax experts? Patent experts? How did you develop these networks and how long did it take?
  18. How did your outside advisors make a difference in your company?
  19. What was your family situation at the time?
  20. What did you perceive to be the strength of your venture?  Weaknesses?
  21. What was your most triumphant? Your worst moment?
  22. Did you want to have partners or do it solo? Why?
  23. What were the most difficult gaps to fill and problems to solve as you began to grow rapidly?
  24.  when you looked for people as partners, advisors, or managers, were there any personal attributes or attitudes you were particularly seeking because you knew they would fit with you and were important to success? How did you find them?
  25. Are there any attributes among partners and advisors that you would definitely try to avoid?
  26. Have things become more predictable? Or less?
  27. Do you spend more time, the same amount of time, or less time with your business now than in the early years?
  28. Do you feel more managerial and less entrepreneurial now?
  29. In terms of the future, do you plan to harvest? To maintain? To expand?
  30. In your ideal world, how many days a year would you want to work? Please explain.
  31. Do you plan ever to retire? Would you explain?
  32. Have your goals changed? Have you met them? Has your family situation changed? What do you learn from both success and failure? What were/are the most demanding conflicts or tradeoffs you face (the business versus personal hobbies or a relationship, children, etc)?
  33. Describe a time you ran out of cash, what pressures this created for you, the business, your family, and what you did about it. What lessons were learned?
  34. Can you describe a venture that did not work out for you and how this prepared you for your next venture?
  35. Questions   For   Concluding
  36. What do you consider your most valuable asset, the thing that enabled you to make it?
  37. If you had it to do over again, would you do it again, in the same way?
  38. As you look back, what do you believe are the most critical concepts, skills, attitudes, and know-how you needed to get your company started and grown to where it is today? What will be needed for the next five years? To what extent can any of these be learned?
  39. Some people say there is a lot of stress as being an entrepreneur. What have you experienced? How would you say it compares with other’’ hot seat’’ jobs, such as the head of a big company, or a partner in large law or accounting firm?
  40. What things do you find personally rewarding and satisfying as an entrepreneur? What have been the rewards, risks, and trade-offs?
  41. Who should try to be an entrepreneur? And who should not?
  42. What advice would you give an aspiring entrepreneur? Could you suggest the three most important lessons you have learned? How can I learn them while minimizing tuition?
  43. Would you suggest any other entrepreneur I should talk to?
  44. Are there any other questions you wish I had asked; from which you think I could learn valuable lessons?   

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  • Posted on : March 13th, 2019

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