The most successful entrepreneurs typically don’t give a lot of interviews, so when they do, it’s important to note where the interview is posted and especially what they say. According to Andy Jacob, CEO of the Jacob Group, those interviews provide critical insight into the trial, error and potential pivotal point process that went into the building of a stable and lucrative business.
When one of those interviews is given to an entrepreneur, it can provide a form of validation for them and their enterprise. It’s equally beneficial if an entrepreneur is asked to give an interview by a respected source in their field. The interview provides valuable exposure to advantageous resources ranging from investors to mass media. Think of entrepreneurial interviews as a personal business coach without the cost.
There’s a wealth of information to be gleaned from online interviews that can assist entrepreneurs at every stage of the process. Interviews can help individuals avoid common pitfalls and they can even learn from businesses that have failed due to causes encompassing greed, mismanagement and trying to expand too quickly.
One of the most costly and devastating mistakes an entrepreneur can make is failure to stay current and relevant. A good example of that is Kodak. When the world went digital, Kodak’s products became obsolete. The tobacco industry is a cautionary tale of “just because you can doesn’t mean you should.”
Even a good idea needs to provide value, convenience or make people’s life better in some way and interviews offer a good way to get to the core of why companies have failed while others have become wildly successful. Entrepreneurs should engage in something they’re passionate about.
Interviews can shine a light on an entrepreneur’s strengths and areas where improvement may be needed. They can stimulate change, be the impetus for an entirely new direction, and provide inspiration. They’re also a good way to determine when to think of expanding and the essential questions to ask when it’s time to hire staff.
One of the most important lessons to be learned is that sometimes ignorance is an advantage. A large number of entrepreneurs launch their business to solve a problem of their own, often without any background, knowledge or training in the field. They don’t have preconceived ideas, prejudices or biases that can work against them.
An overnight success is exceedingly rare and it’s not necessarily a good thing since it comes with a whole different set of problems and challenges. The individual suddenly find themselves spending more time hiring staff, the need to produce more in less time, and an increased need for cash. The flip side is a lack of funds can actually help entrepreneurs and teams trim the fat and focus on the most important elements of the business.
Online interviews can show entrepreneurs the value of networking, how to face adversity, and the value of perseverance. The idea of a single entrepreneur toiling away in his/her home into the wee hours of the morning makes a good story, but it’s just not realistic. Every successful entrepreneur has asked for help when they need it and everyone needs help at some point.