You are always going to be asked tough questions that you may not want to answer or genuinely don’t have an answer for at that moment in time. Learn how to deal with these situations effectively and with confidence.
Investors love to ask you tough questions. They like to see how you reply to them and how you handle those tough questions. And one of the toughest questions that you will get is the question that you just don’t know the answer to, and it’s okay to say, “I don’t know.” It’s all in the tone of voice. You don’t want to just say, “Well, I don’t know!” That’s not confidence. But you can say, “Well, I don’t know, I will get you an answer by tomorrow.” So that gives you a perfect reason for follow-up. Sometimes when you don’t know the answer, it’s a perfect opportunity to do what they teach you in media training which is build a bridge to what you do know. Say, “I don’t know, but what I can tell you is,” and then you tell them what you can tell them. It’s as simple as that. Build a bridge to something you do know so that you just don’t stop with “I don’t know.” You might find that it actually directs the conversation into an easier area for you to respond to. And speaking of tough questions, I’ve compiled almost 40 of the toughest questions that you get from investors. I encourage all of you to look in the collateral here, and choose some of those questions that you may not be comfortable answering, and work on the answer.