How To Answer Questions You Don’t Know

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Investors ask many questions of startup founders.

Founders should know their business and, in particular, their numbers.

Sometimes an investor will ask a question that the founder doesn’t know.

Here are some key steps on how to answer questions you don’t know the answer to:

First, make sure you understand the question.

Probe to find out more about it.

If it’s a question requiring a simple answer that you don’t know, then state you don’t have it readily available, but that you will find it for them.

If it’s a deeper dive question, then break the question down into separate components and open a dialog on the subject.

Explain what you know so far.

Describe what you’re doing to learn more in this area.

List what you hope to accomplish with the answer.

Invite feedback on what to do as well.

While this may not answer the question in a succinct fashion, it shows how you are approaching the situation.

Use the question as an opportunity to show you have a plan.

Demonstrate what you have done so far on it.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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