101 Questions a Professional Entrepreneur Must Be Able To Answer
A free video tutorial from Mike Stemple
Innovator, Entrepreneur, & Inspirer
4.6 instructor rating • 4 courses • 10,591 students
Learn more from the full courseThe Serial Entrepreneur's Guide To Startup Brands
Learn how a successful serial entrepreneur quickly builds out a company brand, by himself, in a couple days.
05:10:10 of on-demand video • Updated March 2015
- Understand why a consistent personal story matters.
- Clean up your personal social profiles.
- Pick a great domain name.
- Find a great domain name.
- Choose a business name that makes sense.
- Insure their domain name is not blacklisted.
- Pick great company colors.
- Quickly create your own logos.
- Find a great logo font and icon.
- Smartly pay for a brand or logo.
- Create a brand guideline and media kit.
- Track where your brands images go.
- Save a ton of money on building your own website.
- Pick a great theme for your website.
- Setup your own website.
- Proof your website before launch.
- Find great social media usernames fast.
- Know what social media accounts you need.
- Make your social media accounts appear more valuable.
- Manage your social media accounts easily.
- Quickly make all your social media account images.
- Create a simple email signature.
- Easily secure your email and look more professional.
- Quickly design your own business cards.
- Always have a business card on yourself.
- Understand why business cards still matter.
- Have all the correct info on a business card.
English [Auto] Hey everybody it's Mike Stempel and they'll want to talk about the hundred and one questions. Professional entrepreneurs just need to know I've assembled this list of 101 questions over 20 companies and all of these questions have been asked at me one time or another by one type of person or another I wanted to give you this list as part of this free course because I think it's really important. You can understand what to expect from other people especially if you're raising capital these these are the questions that are most used by venture capitalists of a symbol. A lot of these questions from a lot of different sources a lot of different lists. Most of them having to do with Venture capitalism and how you raise money. But I think it's also valuable to be able to have these questions printed out at all times. You can like run through them with your team to make sure everyone is on the same page. I found that a lot of times when I'm mentoring nuance manures and I've mentored hundreds of them. A lot of times they don't know what questions to expect. They don't know what questions to expect one from their team when they're recruiting a team to come and join them or the type of questions that a partner might ask. A lot of these questions in here could be helpful if you're trying to figure out what is my product and what does it's value prop and how can I articulate my business to someone else. These questions are also valuable if you print them out and then have people randomly ask you them throughout the day at your company to make sure you as the founder are able to articulate the company and all of its different departments and all of its different ways. I also like to break these questions out and give them to each each team member so they can understand the questions they need to be thinking about. So for example the marketing team you know what's the companys brand what's our strategy as far as social media who are our partners and suppliers. It's amazing as a company grow a lot of people don't even know who their partners are. So these these type of questions I think are really really valuable to share with the whole team and you're in your company as you're building it out when new employees come on. This creates a great opportunity for you to walk them through all hundred in one question so they understand what the business really is what's its vision. How do you control its perception by the customer and what's the reality of what you're actually going to deliver to them. This is a really simple way to make sure everyone's on the same page. More importantly if you're ever going to go out and raise capital you better be able to answer all of these 101 questions. It's OK if you're in a meeting and you don't know the answer off the top of your head to say you know I don't know. Let me get back to you. We do some research. I'll flip this in a day. Give me some time to make sure I get your really succinct answer. No one's going to fault you for saying that. Not all of us can have a perfect memory. I have a terrible memory. There's many times in a in a pitch or being questioned by a VC that doesn't have the answer. I didn't know it and that's why I wanted to put this list together is. Now that's very infrequent. I don't know an answer to at least all these questions. Going into a meeting with the VC some of the answers might be a little obtuse because they just don't know yet because we're in an early stage. But I'm able to say hey that's a valid question. We're early on in our business. We don't have a solid read on that yet. It's one of the metrics that we're tracking and as soon as I get an answer you'll be the first to know. That's an acceptable answer. VCs really appreciate that type of response a little bit more transparency a little bit more honesty. One of the things of why I wanted to give away this document along with my other document on the 80 steps to building a business is because this really helps you understand what you're getting into a lot of people think that it's super simple. If Mike Stempel can build a company GS anyone can do it. But it's a lot of work. There's a lot going on and building a business especially if you're the founder you're the founding team has to be able to understand all the different aspects of a business. It's not a good excuse to say oh I have a lawyer and his job is to develop our intellectual property strategy. That's not a valid way to look at your business. You as the founder need to understand that piece of your business and direct your legal team or direct your accountant or direct outside partners. If you look at my business mapping course you'll see that I talk a lot about the things I outsource just because you outsource something doesn't mean you're not responsible for the answers of the question. Ultimately you're the founder of your business you're accountable for every question that's on these these three sheets. So take a look at them I'm not going to go through them one by. Because that would be an awful experience for you. Read through them if you have any questions hoper hop over to inspire and jump in the forum and you can ask me there. I love it when people ask questions on a forum because it allows us all to share in the answer. If you have any criticisms about these questions please let me know. Some of them don't make sense or some of them are not in the right category if you think some of them are are questions that aren't valid or if I missed the questions. I'm sure I've missed some of the questions. It's hard to remember every question that I've ever been answered about my businesses but this is kind of a master list of the 101 questions I think every entrepreneur needs to know about their business. I hope you get some value out of it. Have you have any questions. Ping me over in the forum at Inspire com. I hope you get a good read out of this. I hope it's valuable to your business and let me know what you think. Thanks for listening.