“Why should I or anyone else care?” This type of question from an investor can freeze a presentation in its tracks. There’s no avoiding it. These things will happen whether you like it or not, but what you can do is be prepared.
Preparing yourself for tough questions is simply a matter of practice. As Founders School expert and demo coach Nathan Gold tells us time and time again, practicing for Q&A is almost as important as practicing your pitch routine. A flawless, credible pitch can come crashing down if the questions are then met by fumblings, half answers and searching responses.
Below, is Nathan Gold’s compiled list of some of the toughest questions received by entrepreneurs from angel investors and venture capitalists. Take any or all of them and prepare yourself by rehearsing your answers in much the same way you rehearse your presentation.
For those questions you do not know the answer for, work with your team to discern the best answer for your business at the current time. If you still struggle with coming up with an answer currently, simply present this forthrightly to the investors and promise to get back to them with an answer, following up as quickly as possible.
It is quite human to NOT have all of the answers all of the time.