QUESTIONS TO ASK AN ENTREPRENEUR INTERVIEW:
Enterprenuers are mostly faced with the qeustions in marketing arising because they want to meet up with the need of their customers in the business world. In this article we are going to be looking at some of the qeustions for enterprenuers interview in the marketing of their products and company during enterprenuer interview will discover the major ingredients needed to grow and succeed in the business venture. Enterprenuership is for creative and innovative individuals who are ready to decipline themselves to make the business grow, such qeustions for an entrepreneur interview is necessary because it provide room for more enlightenment so as to increase the growth and development of the business you venturing into.
12 Questions to ask an enterprenuer during interview:
- How can you present my expertise to potential customers in a way that will have value for them?
By recognizing that my keyword are either problems they faced or solutions they seek and creating product that address those things directly. Although those solutions may be difficult, expensive, and time consuming,they most be offered in parts that are easy to do, cheap to obtain ,and which deliver the results people want immediately.
- 2. How do you seek out smart people?
Surrounding your self with people who know more than you do! People really want to help others , who are just starting out, so don't be afraid to ask. Admire another mom investor
- 3. Do people want what you produce?
Satisfy people's need s and create a solution to a problem you will have customers running to you. Do a thorough market research and make sure you are satisfying a particular need for the people or improve on the pre existing situation, people are always willing to pay for helping them solve their problems
- 4 .Where should I direct the majority of my time to make my entrepreneurship successful?
Unless some one knows about you , it truely does not matter how great your product or service are. Marketing activities should always exceed 60 percent of your time with 30 percent devoted to selling or earning the sale and leaving 10 percent for planning and other administration tasks.
No one will invest in your idea unless you prove your business model and yourself first. If your plan calks for large sums of capital ; to launch, go back to the drawing board. Use out of the box thinking to build your shoe string start up into a scalable business. Scale down price plans, eliminate grandiose expenditures and build strategic partnership instead of expensive infrastructure. In short simplify and test your your idea before seeking capital.
- 5. How do you access funds to start?
Good ideas abound, start ups are generally self funded and not just sweat equity. If your idea is truely unique and you have written a realistic business plan with accurate and current market data and budget along with financial projections,you may be able to get funds from banks , friends an family. Funding with home equity loans and credit cards are a less viable options today. If possible keep your day job and launch your business until you have a cash flow.
- 6. When do I get my money back?
Probably never. That is why you called an entrepreneur because of the ability to take risk,it may succeed it may not depending on the strategy and plan applied when starting the business
- 7. How do I effectively market my company?
Just throwing open your doors isn't enough; entrepreneur need to get their message out about their product and services to prospective client. This means making a commitment of time and money to marketing, advertising and public relations to support your business development needs and build your brand in the marketplac.
- 8. Do I need a highly talented person to employ?
The smart answer is yes ; the real answer is no. Highly talented persons cost too much for entrepreneurs ,slow down your business because they challenge every thing and can move for the next opportunity tommorow. You can better chose a person just out of college with some skills because they are hungrier to deliver results faster ,they stick around for a long time ,they cost less and ready to make sacrifices.
- 9. How would you go about establishing price guidelines for business renting items to customers?
Pricing is based normally on a combination of cost and market competition. Trade association are a prime source of such information.
- 10. What is the average expected net profit for a small business?
Average net profits vary with the type of business: retail, wholesale,services, manufacturing, construction. They all vary for the type of business structure, proprietorship or cooperation.
- 11. Product branding: is it composary?
Your brand is your identity and it speak much about you as it might be the first contact and impression to your customers. Product branding is an indispensable aspect of marketing. Your product speak for you when you are not there that is why you need to give uttermost importance to both the content of the product and the final packaging. First impression last longer.
- 12. Do one need a human resources (HR) department rigth away?
While I support it's necessity in an organization,the answer is no. You don't need an official department right away. However, you as the business leader need to be focused on establishing policy and procedures ensuring employees engagement to promote loyalty and excellence and driving performance.
Qestions to ask an enterprenuer mentor:
- How do you define your goals?
- How did you come up with the name of? your company?
- How did you raise capital to start your business?
- Who are your competitors?
- Do you really need a loan to raise capital for the business?
- How do one increase sales revenue?
- What will you advice up coming ?entrepreneur to do when investing ?
- How do you out grow your competitors?
- How do you increase your customer base?
- What inspired you to become an entrepreneur?
- What was your challenges when starting the business?
- What tactics and method did you use when marketing you products?
Questions to ask an enterprenuer before investing:
- How did you conquer your fears of losing in a business?
- What are the risk factor to look at for before investing in a business?
- How do you set goals and achieve them?
- What type of business will you advice some one to venture into?
- Is it okay to sell good and services on credit?
- Do you need to register your business before you start?
- Is it good to employ your family members in the business?
- How do you generate good and wonderful ideas?
- How do you sustain you business?
- Where did you market your product and services?
- Can you survive in a saturated business with many competitors?
- Who are you targeted customers?
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