Top 4 Unexpected Investor Questions
Getting ready for an investor interview is always stressful, and you should always be ready to answer basic questions as "what way is your solution unique?", "Who are your competitors?", and "How will you generate profit?".
But what about unexpected questions? How can you prepare for those?
To help you, we’ve prepared a list of things you might not always expect to be asked:
Who believes in you and how can I contact them?
Investors sometimes want to know who your mentors or advisors are. If you don’t have any, tell them about ideas and people that have inspired your team. Be ready to give examples, and explain why.
Whose entrepreneurship do you admire and why?
Even if you have never been asked this question before, it's time to think about it, so you can be proactive and tell the next investor about it. That way, you can demonstrate something about your own values and aspirations through your role model(s).
How do you track trends in the target market?
Every prospective investor needs to be confident that you understand and are on top of the your industry. Apart from typical questions like "what is your target market?", some investors may want to ask something unusual to see how comprehensive a picture of your industry you have. Be ready to share a lot about the sources and tools you use to stay one step ahead .
How do you plan to scale your startup at the lowest possible cost?
All investors want the biggest bang for their investment dollar...and you should want that too! Be ready to explain in depth not only how much money you need to scale the business, but also how you plan to do that while minimizing costs at the same time. It is not out of bounds to flag budget expenditures that can be skipped, or even develop a set of different budget along different business scaling models.
How would you have answered these questions? Let us know in the comments below!
