Détail de la question
I have been assisting many entrepreneurs since I have created my mentor account, but I believe there should be a baseline of things to ask an entrepreneur while guiding them through your mentoring. What are your top go-to questions or focal points on this subject? I would love to hear from my fellow mentors and see how they handle this concept.

Réponses
Hi Hassan: Thanks for starting a thread. I don't believe the first question I would ask is if their business plan is done correctly. Before creating a business plan, should know if there is a need for their product/service. What made them want to offer the product/service. Know the story behind their ideas. Is there a market for it. How will they make money. What is their business model. How will they acquire their first customer. Do they have an MVP. How did they go about getting out there and testing to see the need of their product/service. Gauge how much customers would pay for product/service. Costs of product/service. How will they retain customers. Who will be on their leadership team. Many investors want to see traction, thought out plan, financial forecasts that include high margins to get a favorable ROI. It also depends on the route in which a person is seeking funding: family/friends/fools; angel investors; VC; small business loans, etc. It's better to have shown you can make sales, generate revenue bootstrapping to then get the big money. These are the types of questions that help outline to create a business plan. Publié le 18/07/19
July 18, 2019
Or rather to continuously make modifications as things change and evolve quickly within your business plan. Short corporate capability statements, one page overviews, teasers can give a quick snap shot into whether it whets the appetite for investors to want to see further and dive into your business plan. No two investors are the same. 1 may invest because of the people. 1 may invest simply because of the types of returns they see year over year. Criteria to assess business plans can be subjective as a person would really need to be an expert to provide insights into what people are really trying to do in certain specific industries/sectors. Or just look at the amount a person is asking for and say no. Sadly, I have seen this happen quite a few times. There is no true one size fits all to measure as each product/industry/service/sector are different. Publié le 18/07/19
July 18, 2019
Very interesting points you brought up Kim, I really appreciate your input and I do agree with everything you have written out. This kind of thread allows anyone and everyone to learn many small tips and tricks to reach a well-polished business plan without needing to constantly go through different Mentors and wait for their responses. I am not saying "let's undermine the point of this website", instead I am saying if anyone reads hints and tips like yours, they are more likely to get better and more clear ideas to implement into their business plan before seeking further professional help. I hope more mentors chime in on this thread and feel free to add anything they want to share in advice or structural inputs towards the topic! :) Publié le 18/07/19
July 18, 2019
Hi Hassan, Thank you. I agree, definitely not to undermine. It is a platform to have a plethora of knowledge and experience shared and it is indeed only better for all to learn and grow from Mentors and Mentees a like. A business plan is a document full of words. A guideline, which is evolves. In order for it (BP) to be successful, there has to be execution. Execution allows for performance assessments, make changes, updates, pivot, etc. accordingly. Cheers Publié le 19/07/19
July 19, 2019
Below are the simple questions I use to develop a client's potential idea for a business. 1. Do you have a product or service niche in mind? 2. Do you believe you have a market for 1 above and the means to reach it? 3. Are you willing to develop a business plan to validate 1 and 2 above before you launch? 4. Can profile your target customer? 5. How do you plan to differentiate your business from the competition? Publié le 20/07/19
July 20, 2019
I have to agree with Kenneth. These are the basic fundamental issues that determine whether an entrepreneur is ready to get started and has invested the time and effort. If the individual has done a proper SWOT analysis, even better. That allows focus, direction, identification of short and long term goals, and confidence. Publié le 03/08/19
August 3, 2019
Waoh..... A whole learning happening here.. All that has been shared i right. My approach is normally 3 pronged. THE DRIVER - i inquire on the person to understand why the choice of the business (product/service). Is it passion or profession led. THE VEHICLE - The choice of business. Why that niche. Here all the qns discussed on this thread applies and thirdly THE ROUTE - This is purely the business strategy..... Publié le 07/08/19
August 7, 2019