In the last blog I asked you to ‘interview’ at least 3 entrepreneurs that may be friends, strangers, the corner store owner or someone you know from doing business together.  I suggested you ask them the following questions:

  1. What was the biggest challenge in starting up their business?
    1. Lack of planning
    2. Not enough capital
    3. Not having the right resources
  2. What type of problems did they encounter that they hadn’t anticipated?
    1. Financial
    2. Seventy hour work weeks
    3. HR and employees
  3. What kind of support did they wish they had when they were starting out?
    1. A mentor
    2. A business plan
    3. A friendly banker
  4. When did they feel they were ‘over the hump’?
    1. Never
    2. When I made my first big deal
    3. When I hired my first employee
  5. Did their vision of the business change at all over the course of the first year?
    1. Completely, one idea morphed into another new business
    2. Too much or lack of sales made me change my focus
    3. No, I followed my Action Plan in my Business Plan
  6. What would they do differently if they could do it over?
    1. Have more capital for the start-up
    2. Work on the business not in it
    3. Not give up my day job!

I’ve given this questionnaire to over 32 intakes of 16 entrepreneurs and then read the answers aloud from the last intake to the current one. The answers almost always revolve about the ones above. I think the answers may be insightful!

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