20 Questions

Best Questions to Ask an Entrepreneur

Insightful questions that help you learn from successful entrepreneurs, understand their journey, and gain valuable insights for your own business endeavors.

1

What was the moment you knew you had to start your own business?

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Why this works

Reveals their entrepreneurial motivation and the personal story behind their decision, which can inspire and guide your own entrepreneurial journey.

2

What was your biggest failure and what did you learn from it?

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Why this works

Shows you understand that failure is part of entrepreneurship and helps you learn from their mistakes to avoid similar pitfalls in your own ventures.

3

How do you stay motivated during the difficult times?

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Why this works

Entrepreneurship involves many challenges and setbacks. Learning their coping strategies can help you prepare for and navigate your own difficult periods.

4

What's the most important lesson you've learned about building a team?

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Why this works

Team building is crucial for business success. Their insights can help you understand how to attract, retain, and manage talent effectively.

5

How do you balance taking risks with being financially responsible?

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Why this works

Risk management is a key entrepreneurial skill. Understanding their approach can help you make better decisions about when and how to take calculated risks.

6

What's your process for making major business decisions?

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Why this works

Decision-making frameworks are valuable for entrepreneurs. Learning their process can help you develop your own systematic approach to important choices.

7

How do you handle competition and what's your strategy for staying ahead?

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Why this works

Competitive strategy is essential for business success. Their insights can help you understand how to position your business and maintain competitive advantage.

8

What's the biggest mistake you see other entrepreneurs making?

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Why this works

Learning from common mistakes can help you avoid them. Their perspective on common pitfalls can save you time and money.

9

How do you prioritize your time and energy when everything feels important?

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Why this works

Time management is crucial for entrepreneurs. Their strategies can help you focus on what truly matters and avoid getting overwhelmed.

10

What's your approach to building relationships with customers and clients?

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Why this works

Customer relationships are the foundation of business success. Learning their approach can help you develop better customer acquisition and retention strategies.

11

How do you handle the financial aspects of running a business?

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Why this works

Financial management is critical for business survival. Their insights can help you understand cash flow, budgeting, and financial planning.

12

What's your strategy for scaling and growing your business?

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Why this works

Growth strategies are essential for long-term success. Learning their approach can help you plan for and execute your own business growth.

13

How do you stay current with industry trends and market changes?

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Why this works

Market awareness is crucial for business success. Their methods can help you stay informed and adapt to changing market conditions.

14

What's your approach to innovation and staying creative?

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Why this works

Innovation drives business growth. Learning their creative processes can help you develop your own approaches to generating new ideas and solutions.

15

How do you handle setbacks and what's your recovery strategy?

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Why this works

Resilience is essential for entrepreneurs. Learning their recovery strategies can help you bounce back from your own setbacks more effectively.

16

What's the most valuable piece of advice you've received?

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Why this works

Learning from their mentors and advisors can help you understand what guidance has been most valuable and seek similar advice for yourself.

17

How do you balance work and personal life as an entrepreneur?

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Why this works

Work-life balance is challenging for entrepreneurs. Learning their strategies can help you maintain your well-being while building your business.

18

What's your approach to networking and building professional relationships?

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Why this works

Networking is crucial for business success. Learning their strategies can help you build valuable professional relationships and opportunities.

19

How do you handle the uncertainty and unpredictability of entrepreneurship?

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Why this works

Uncertainty is a constant in entrepreneurship. Learning their coping strategies can help you manage stress and make decisions in uncertain situations.

20

What would you do differently if you were starting over today?

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Why this works

Hindsight provides valuable insights. Learning what they would change can help you avoid common mistakes and make better decisions from the start.

Learning from Successful Entrepreneurs

Expert tips and techniques for getting the most out of these questions.

Best Practices

Show Genuine Interest

Entrepreneurs appreciate when people show genuine curiosity about their journey. Ask follow-up questions and demonstrate that you're truly interested in learning from their experience.

Focus on Learning, Not Networking

While networking is valuable, focus on learning from their experiences. This approach often leads to more meaningful conversations and better relationships.

Ask About Both Successes and Failures

Don't just ask about their wins. Entrepreneurs often learn more from their failures, and these stories can be incredibly valuable for your own journey.

Question Sequences

The Journey Explorer

1
What was the moment you knew you had to start your own business?
2
What was your biggest failure and what did you learn?
3
How do you stay motivated during difficult times?
4
What would you do differently if starting over?

The Strategy Builder

1
What's your process for making major decisions?
2
How do you handle competition and stay ahead?
3
What's your strategy for scaling and growing?
4
How do you approach innovation and creativity?

Common Pitfalls

Don't Ask for Money or Investment

Avoid asking for funding or investment unless you have a genuine business relationship. Focus on learning and building relationships first.

Avoid Generic Questions

Don't ask questions you could answer by looking at their website or LinkedIn. Show you've done your research and ask specific, thoughtful questions.

Don't Compare Yourself Negatively

While it's natural to compare, avoid questions that sound like you're putting yourself down or being overly critical of your own progress.

Conversation Templates

The Learning Explorer

1
Step 1: Start with: "What was the moment you knew you had to start your own business?"
2
Step 2: Follow with: "What was your biggest failure and what did you learn?"
3
Step 3: Deepen with: "How do you handle the uncertainty of entrepreneurship?"
4
Step 4: Learn with: "What's the most valuable advice you've received?"

The Strategy Builder

1
Step 1: Begin with: "What's your process for making major business decisions?"
2
Step 2: Explore with: "How do you approach building and scaling your business?"
3
Step 3: Investigate with: "What's your strategy for staying competitive?"
4
Step 4: Apply with: "What would you do differently if starting over?"

Further Reading

"The Lean Startup" by Eric Ries
"Zero to One" by Peter Thiel
"The Hard Thing About Hard Things" by Ben Horowitz
"Start with Why" by Simon Sinek

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