Startups

Starting a Business? Consider Conducting Informational Interviews

  • 3 min Read
  • April 28, 2020

Author

Neha De
Neha De

Neha De is a writer and editor with more than 13 years of experience. She has worked on a variety of genres and platforms, including books, magazine articles, blog posts and website copy. She is passionate about producing clear and concise content that is engaging and informative. In her spare time, Neha enjoys dancing, running and spending time with her family.

Table of Contents

Ever wonder how a particular entrepreneur got where they are today? How they found seed money, a target audience, or even how they found people to hire? There’s a simple way to find answers to those questions, and it won’t typically cost you more than a cup of coffee.



The method we’re talking about involves conducting informational interviews. The process involves nothing more than asking someone whether you can talk to them about the industry, their journey, or whatever other curiosity you have.

Keep in mind, however, what an informational interview is not. This is not a funding pitch, a job interview or a solicitation of clients from someone else. You’re simply hoping to glean some important lessons from someone else’s journey.

Perhaps the entrepreneur shares a story that makes you crave the entrepreneurial lifestyle, and confirms for you that you’re on the right path. In that case, great! You’re on the right track.

But suppose their description of long hours, scarce capital and supplier issues scares you away from the entrepreneurial path. No matter which happens, you’ve done the right thing by asking someone for their insight, because it has helped inform your journey.

Reach out to Multiple People



You might know exactly which entrepreneur you want to talk to about the business, but chances are strong that not every person you contact will say yes to an informational interview. Entrepreneurs are busy, and may not always have time to spare for these sessions. So reach out to multiple people, not just the one you most want to emulate. If you don’t know who might be a good fit, check out local businesses and reach out through email, or contact people over LinkedIn.

You don’t have to send a robust note — a short introduction telling them a little about yourself and that you’re considering launching a business is a good way to start. Let them know that you aren’t seeking an investment or a job, and you’d just love to hear about their story because you are a fan of their company and want to know how they got where they are. Offer to buy them coffee or lunch if they’re open to meeting you in person. If not, consider a Zoom or phone call.

Ask About the Pros and Cons



The questions you ask the entrepreneur during the informational interview are likely to vary based on what kind of information you’re seeking, but could include the following, among others:

  • What was your path to entrepreneurship?
  • How did you get your seed money?
  • How did you market your services/products?
  • Tell me about how you got your first customer.
  • What were the biggest challenges when you started?
  • What advice would you have for someone starting a business in today’s environment?
  • How has entrepreneurship impacted your family/personal life?
  • Which productivity tools have worked best for you to get everything done?
  • How did you decide when and how to hire?

Your list of questions may be different from these, but consider them a jumping-off point as you plan out your informational interview.

After the interview, be sure to follow up with a thank you email, and express your gratitude for the entrepreneur’s time. If you got all the answers you needed, it may inform your future. If you didn’t, consider reaching out to other people and getting different points of view from other entrepreneurs.

Talk to our team today to learn how Escalon can help take your company to the next level.

  • Expertise you can trust

    Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.

  • Quality and consistency

    Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.

  • Scalability and Flexibility

    Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.

Contact Us Today!

Tap into the latest insights from experts in your industry

Accounting & Finance

CFO vs Controller: How Startups Can Benefit from Both

CFO vs Controller: How Startups Can Benefit from Both  As companies grow, managing finances and accounting becomes increasingly important. A...

Read More
Small Businesses

The ROI of Outsourcing Business Services: How to Measure Your Investment’s Impact 

The ROI of Outsourcing Business Services: How to Measure Your Investment’s Impact  In a world where every dollar must count,...

Read More
People Management & HR

2025 Employment Law Updates: What to Know

As we step into 2025, businesses across the country face several important updates in labor laws and employee benefits. Staying...

Read More
Startups

5 Signs Your Startup Needs an Outsourced CFO  

5 Signs Your Startup Needs an Outsourced CFO   Startups often operate with lean teams, but as they grow, financial complexity...

Read More
Leadership & Growth

CG Startups: How to Keep Costs Low While Scaling Operations 

Consumer Goods Startups: How to Keep Costs Low While Scaling Operations  Scaling a consumer goods startup requires a careful balancing...

Read More
Press Releases

Escalon Expands Its Reach: Full Stack Finance and Early Growth Join Forces with Industry Leader 

Escalon Expands Its Reach: Full Stack Finance and Early Growth Join Forces with Industry Leader  In a strategic move that...

Read More
Taxes

Delaware Annual Review: What Series A-C Startups Must Know to Stay Compliant 

Delaware Annual Review: What Series A-C Startups Must Know to Stay Compliant  For startups incorporated in Delaware, staying compliant is...

Read More
Taxes

Tax Planning for Startups: Preparing for Your First Tax Filing

Tax Planning for Startups: Preparing for Your First Tax Filing as a Growing Business  For many startups, the first major...

Read More
Taxes

Unlock Tax Savings with the R&D Tax Credit

As a startup, managing cash flow and minimizing expenses are critical to your business's survival and growth. One often-overlooked opportunity...

Read More