Most people spend their lives answering the same questions.
“What do you do?”
“Where are you from?”
“So… what keeps you busy?”
But according to Elizabeth Kraus, those conversations rarely tell us who someone actually is.
After spending a decade investing in startups as a venture capitalist, Elizabeth discovered that the most valuable investment wasn’t writing checks. It was understanding people, asking better questions, and helping founders overcome the psychological barriers that held them back. Today, she’s applying those same lessons in Montana through mentoring, writing, community events, and helping people think bigger about what’s possible.
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The Best Investment Is People
One of the biggest lessons Elizabeth learned during her years in venture capital surprised her.
Money wasn’t usually the deciding factor.
The startups that succeeded often did so because they had the right mentors, introductions, and support system. Sometimes a single conversation or connection mattered more than a funding round.
That realization changed how she thinks about investing and ultimately led her away from venture capital and toward investing directly in people.
Beyond Small Talk
Elizabeth’s project, Imperfectly Honest, grew out of a desire for deeper conversations.
Rather than asking people what they do for work, she asks questions that reveal who they are, what they’ve overcome, and what they genuinely care about.
It’s the same philosophy behind the dinners she hosts and the podcast she produces. The goal isn’t networking. It’s creating conversations that leave people feeling understood rather than simply introduced.
Thinking Bigger in Montana
Throughout the conversation, Elizabeth shares her belief that Montana has extraordinary entrepreneurs, but many underestimate what’s possible.
Growing up or building a business in a smaller community can unintentionally create limits on what people believe they can accomplish.
Her hope is to encourage more founders, nonprofit leaders, and community builders to think beyond those self-imposed ceilings while staying grounded in the values that make Montana special.
Success Isn’t Always About Bigger Companies
Although Elizabeth spent years in venture capital, she no longer believes billion-dollar companies are the only measure of success.
Today she’s more interested in helping people build meaningful businesses, solve real problems, mentor others, and strengthen their communities.
For her, success isn’t just measured in financial returns. It’s measured by the ripple effects someone creates in the lives of other people.
Embracing Uncertainty
After moving to Montana, retiring from venture capital, experiencing a divorce, and recovering from a serious health challenge, Elizabeth found herself without the carefully planned future she once expected.
Instead of rushing toward another five-year plan, she chose something unfamiliar: uncertainty.
She shares how learning to trust herself, slow down, and stay open to unexpected opportunities has shaped this new chapter of her life. Sometimes the next step doesn’t become clear until you’re willing to stop forcing it.
Building a Better Montana
One of the recurring themes throughout the episode is responsibility.
Elizabeth acknowledges that many of the same forces that benefited places like Colorado are now changing Montana. Rather than simply accepting that reality, she believes newcomers, entrepreneurs, and longtime residents all have an opportunity to become part of the solution.
Whether that’s mentoring young people, building businesses that create good jobs, tackling housing or childcare challenges, or simply encouraging others to think bigger, meaningful change starts with people who are willing to invest in their communities.
Learn More
Learn more about Elizabeth Kraus, Imperfectly Honest, and the Wingman Pitch by visiting her website and following her work. If you’re building something meaningful in Montana or simply looking for deeper conversations, you’ll likely find something that resonates.
https://www.linkedin.com/in/elizabethkraus
Mountain Mule Media
Mountain Mule Media exists to build real connection between Montana’s businesses and the people they serve.
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