This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
After working many years in business, both in large companies as well as startups, I’ve realized that you can learn more from peers and mentors than from any formal education program. Of course, nothing beats learning from your mistakes , but that’s a painful and very time-consuming journey.
In my role as mentor to many of you aspiring entrepreneurs, I often find you convinced that all you need to start is a unique innovation or idea , and now you are ready to jump in with both feet and enjoy the ride. In my view, practical business courses in school are better than an advanced degree or MBA. You can win as a team.
In my own business career, many years as a business advisor, and mentor to aspiring entrepreneurs, I have validated the following strategies to practice and guide you. Each of these will help you in achieving success and satisfaction while tackling your toughest business issues: Stop attacking symptoms – dig first for the root cause.
In my experience working with startups, the best approach these days is to find and use a good mentor (been there, done that). Of course, mentoring is not new – it’s been the favored way to learn arts and crafts since way back in the middle ages. But I assert that mentoring in business is making a comeback.
As a long-time business advisor and mentor to entrepreneurs, I consistently find that the most thriving businesses are people-centric, and those team members create the best processes, rather than the other way around. That takes less time and gives everyone greater satisfaction.
Unfortunately, these goals are often mutually exclusive, and focusing on the wrong ones won’t bring you that business success and satisfaction you crave. Of course, if you wait for the perfect time, you may never start. Timing is critical for every startup.
In my role as mentor to business professionals, I often get the question about your potential of going out on your own as an entrepreneur, versus your current role of working for a boss at an established company. If you enjoy wearing many different hats and are constantly learning new skills, you will get more satisfaction as an entrepreneur.
Yet as I mentor entrepreneurs around the country, crowdfunding still seems to be one of the least understood approaches to startup funding, with more myths than accredited angels and professional venture capital investors combined. The crowd gets the satisfaction of helping, with minimal risk, and no expectation of any high return.
I’ve always wondered if there was some way that I could quickly deduce a new entrepreneur’s “sweet spot,” and optimize my mentoring to those strengths and weaknesses, maybe similar to the Myers-Briggs type indicator for business professionals. Of course, discovering your entrepreneur type is only the beginning. Some are very positive.
Yet I find, as a mentor and outside consultant, that many of you focus only on working conditions and compensation as the key factors determining team engagement , health, and productivity. Of course, you as the business leader have a key role in making all this happen. Occupational satisfaction. Social interactions.
Yet as I mentor entrepreneurs around the country, it still seems to be one of the least understood approaches to startup funding, with more myths than accredited angels and professional venture capital investors combined. The crowd gets the satisfaction of helping, with minimal risk, and no expectation of any high return.
Of course, as you work with contract players, explore the potential for a long-term relationship, and wait until your organization matures to pursue career positions. Freelancers and consultants have to demonstrate results, without training and mentoring, so they can help you more quickly and probably at a lower total cost.
Unfortunately, work and satisfaction have become an oxymoron in many businesses. I loved it when my boss gave me the additional responsibility of mentoring others in solving tough problems. Regularly asking for insight, and then following up, to fix these wasted efforts, will improve job satisfaction, as well as productivity.
Of course, such actions are equally applicable to businesses at any stage. These events are also opportunities to get a better handle on customer requirements, as well as measure your customer satisfaction and market trends. Seek mentoring from established industry leaders.
Of course, this kind of leadership has a big risk, since you have no one to blame if you get it wrong. This may mean attending industry conferences, taking college courses, or reading some key books. The more you use your new-found leadership ability, the greater will be your satisfaction and confidence.
Many entrepreneurs I have mentored make big mistakes in this area, by hiring low-cost friends and family, with minimal skills or training, and expecting them to have the same work ethic , passion, and business knowledge as the founder. In addition, you can reduce to soft costs of mentoring, relationship building, and socializing.
It’s been happening for some time, but business changes, accelerated by the recent pandemic, have highlighted the need for all of us to review our positions, image, and satisfaction at work. Now may be the time to build new credentials is this digital age by taking time for education courses and attending digital conferences.
Yet as I mentor entrepreneurs around the country, it still seems to be one of the least understood approaches to startup funding, with more myths than accredited angels and professional venture capital investors combined. The crowd gets the satisfaction of helping, with minimal risk, and no expectation of any high return.
Of course the work must be done well, but your way or the highway is not the right way. It will inspire loyalty, provide real satisfaction for work done, and become the basis for mentoring and performance reviews. This requires hiring people with the right skills, not the least expensive or friends and family.
With some coaching and mentoring from other leaders, I was able to do it myself, so I know you can do it too, by committing to the following strategies: Train yourself to always look for positives, not negatives. Of course, most professionals are optimistic, so they tend to over-commit and underestimate work requirements.
The board was unanimous in our opinion of this including outside director Ian Rogers who has served as Jonathan’s mentor and friend. “CEOs need to derive satisfaction from the nuts and bolts of building a company, not just building product and articulating the vision. Therein lies the dilemma.
One of the attributes that I often recommend to the business professionals and entrepreneurs I mentor is to always be totally accountable for your actions and ideas. Be available for mentoring and coaching to others. Lack of accountability can permeate an entire organization.
Image via Pixabay I’ve always been a bit confused about the difference in a business context between a coach and a mentor. According to many pundits , a mentor shows you the right way based on experience, while a coach brings out the best in you, then let’s you find your own way. Give people the room to debate differences.
Creating an innovative new business is guaranteed to test your skills, patience and determination, and you need to derive satisfaction from the journey, as well as the destination. Don’t hesitate to call in an experienced advisor or mentor to help. Of course, problem-solving is required for scaling and continued business growth.
For this, you should expect participation in monthly strategy and review meetings, and unlimited access via phone or email for questions, mentoring, and advice. Based on my experience, it is reasonable to offer 1% ownership in your company to each advisor, plus expenses, and a small annual stipend of maybe $1000.
Apply the same high bar to product quality, employee satisfaction, social responsibilities and customer service. Don’t let day-to-day demands take the reins and drag you off course. Doing the right thing means never accepting “good enough” or making excuses for lapses. Provide leadership to your team for doing the right thing.
For this, you should expect participation in monthly strategy and review meetings, and unlimited access via phone or email for questions, mentoring, and advice. Based on my experience, it is reasonable to offer 1% ownership in your company to each advisor, plus expenses, and a small annual stipend of maybe $1000.
After years mentoring young aspiring entrepreneurs , I am now convinced that getting along and becoming more productive with other people is a skill that any professional can learn, or accomplish via a dedicated strategy. Don’t let any hidden agendas or ulterior motives, such as political strategy, throw you off course.
As a result, there have also been many new resources and mentors popping up specifically aimed at women. Here is a short list of impacts they commonly reported and all mentors have seen: You feel overwhelmed. The antidote and solution to doing too much is doing less and, of course, doing it well.
Of course the work must be done well, but your way or the highway is not the right way. It will inspire loyalty, provide real satisfaction for work done, and become the basis for mentoring and performance reviews. This requires hiring people with the right skills, not the least expensive or friends and family.
Yet I find in my mentoring practice that more and more team members prefer the human-centered approach and respond with more engagement and commitment. Make it clear that you always aim for progress, expect mistakes, and recognize that course-corrections or pivots are normal in business. Develop self-awareness of your triggers.
As an advisor and mentor to startups, I try to make sure entrepreneurs understand both the pros and cons of an IPO as an exit strategy. Of course, there are cases where a new technology or medical startup needs that huge financial infusion to build the infrastructure needed for real growth, so the rewards are worth the risks and costs.
Of course, that leads to further isolation. Most people by nature get some satisfaction from team interaction, working toward the same goal. Even if your startup is a one-man show, you can find an intelligent outside mentor or advisory board member to bounce ideas off. It doesn't have to be lonely at the top.
Of course, that leads to further isolation. Most people by nature get some satisfaction from team interaction, working toward the same goal. Even if your startup is a one-man show, you can find an intelligent outside mentor or advisory board member to bounce ideas off. It doesn't have to be lonely at the top.
Of course the work must be done well, but your way or the highway is not the right way. It will inspire loyalty, provide real satisfaction for work done, and become the basis for mentoring and performance reviews. This requires hiring people with the right skills, not the least expensive or friends and family.
Of course the work must be done well, but your way or the highway is not the right way. It will inspire loyalty, provide real satisfaction for work done, and become the basis for mentoring and performance reviews. This requires hiring people with the right skills, not the least expensive or friends and family.
Of course the work must be done well, but your way or the highway is not the right way. It will inspire loyalty, provide real satisfaction for work done, and become the basis for mentoring and performance reviews. This requires hiring people with the right skills, not the least expensive or friends and family.
But very quickly, it is becoming obvious to startups that the value and satisfaction exceeds the costs. Of course, investors still require a profitable business model, and the potential for high returns. Startups can use social responsibility as a competitive advantage. In the long-run, what your business actually does is what counts.
Of course the work must be done well, but your way or the highway is not the right way. It will inspire loyalty, provide real satisfaction for work done, and become the basis for mentoring and performance reviews. This requires hiring people with the right skills, not the least expensive or friends and family.
Of course, that leads to further isolation. Most people by nature get some satisfaction from team interaction, working toward the same goal. Even if your startup is a one-man show, you can find an intelligent outside mentor or advisory board member to bounce ideas off. It doesn't have to be lonely at the top.
Of course, starting and running your own business comes with financial and personal risks, so I always recommend that you do your homework first, and follow some tried and proven strategies to improve your odds of success. But if you do it right, the joys and satisfaction, as well as financial returns, of your success can’t be beat.
And today, more than 2,000 colleges and universities offer entrepreneurship courses – up from the just 70 schools that Boomers and Gen-X had to choose from in 1970. Satisfaction vs. Stress. A recent Gallup poll shows that 7 out of 10 high school students aspire to own their own businesses. to pull their weight.
They skip from one to the next, providing expert guidance and money, getting their satisfaction (and reward) from the best of the best. Advisors and mentors are busy people. Of course, it’s like a double-down in gambling as well, which can quickly turn into a double loss. Optimize your advisers and investors.
By demonstrating positivity and mentoring, you can make collaboration and connecting with others a productive and enjoyable experience, rather than a burden. Of course, it’s always important to be positive and optimistic about the future and look forward to sharing your journey to business success and personal satisfaction.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content