The preparation for a job search is similar for the preparation for a startup idea search and presenting it to an investor. Some people try to do both: find a job, or find a startup. There are ways to combine the two and that is the point of this next series of articles.
How do you combine the two, but also present the right information to the right audience.
The preparation steps are:
1. Research
2. Develop collateral
a. Resume
b. Cover letter
c. Business cards
3. Advertise and network online
4. Advertise and network locally (in person)
5. Develop more marketing materials
a. Special projects
b. Website
c. Blog
The first step is to do some basic background research to know where to start and how to put together a plan. I found three job search books that are most helpful to both a job search and preparing yourself for the investor:
Book 1: Rites of Passage at $100,000 to $1 Million+: Your Insider’s Lifetime Guide to Executive Job-Changing and Faster Career Progress in the 21st Century by John Lucht, ISBN: 978-0942785302
The book covers the whole gamut of job hunting for the executive. It talks about how to create the resume, identify whether someone is the right type of recruiter, how to communicate with other executives and in general, how to present yourself as the executive they need to hire.
Fairly obvious then why it would be a great book for someone trying to start a new company and get investors. The investors need to see that the person is the right executive for the job.
Book 2: 60 Seconds and You’re Hired! by Robin Ryan ISBN: 978-0143112907
This book covers how to make a positive first impression and leave the person with the right impression. Basically, it says that you identify the three to five key strengths that person needs to have in someone to do the job; and you repeat that theme several times as you answer their questions. The book also includes other sales techniques and typical interview questions.
This book is integral in the conversation that follows the pitch. What are your five top qualities? What are the five top qualities of the business that the investor needs to hear?
Book 3: Any Interview Question book. One example is: Boost Your Interview IQ by Carole Martin, ISBN 978-0071425476.
I like this book because not only does it give sample questions, but sample answers and what they mean.
There are no Q&A books for investors asking entrepreneurs questions. However, if you are an investor or really want to do some intense strategy look at these two books:
- Boost Your Hiring IQ by Carole Martin, ISBN 978-0071477017.
- 96 Great Interview Questions to Ask Before You Hire by Paul Falcone, ISBN: 978-0814413517
Both these books present it from the hiring point of view. What are the right questions to ask and how, and what do the answers typically mean. This is a great book for investors trying to get in the heads of their prospective entrepreneurs. Just like you would hire a CEO or senior manager, an investor needs to consider the person receiving their investment.
To the job seeker/entrepreneur: Investors and hiring managers are going to ask many questions. As they get beyond the basic questions they will start to find out about your management style, your decision making process and what makes you tick. They might ask you tough questions like, “So, why did you get fired?” when you did not say that you were fired. Practice the questions and answers to give you a strategy and the ability to stay calm under pressure.
These resources help you prepare yourself for the “inquisition”. Whether you are a job seeker talking to large companies and starups, or a startup trying to find investment, you can prepare for the “interview” in a similar way.
