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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. Enlist a mentor and advisor who is not a ‘yes’ person. Do in-depth research on relevant startups and leaders.
Every entrepreneur can learn from a mentor, no matter how confident or successful they have been to date. Most people don’t know that billionaire Mark Zuckerberg , for example, gives real credit to the inspiring mentorship of Steve Jobs for Mark’s Facebook success. Yet most entrepreneurs simply don’t know how to work with a mentor.
Every entrepreneur can learn from a mentor, no matter how confident or successful they have been to date. Most people don’t know that billionaire Mark Zuckerberg , for example, gives real credit to the inspiring mentorship of Steve Jobs for Mark’s Facebook success. Yet most entrepreneurs simply don’t know how to work with a mentor.
As a long-time mentor to new entrepreneurs and business owners, I have noticed that many no longer associate more fulfillment and satisfaction with more money, power, and success. Mentor others to share what you have learned. It seems that fulfillment to these new entrepreneurs is all about changing the world and legacy.
Every entrepreneur can learn from a mentor, no matter how confident or successful they have been to date. Most people don’t know that billionaire Mark Zuckerberg , for example, gives real credit to the inspiring mentorship of Steve Jobs for Mark’s Facebook success. Yet most entrepreneurs simply don’t know how to work with a mentor.
It seems they are both looking for more personal satisfaction and sense of purpose for their efforts. Even the simplest of new technologies, such as Zoom for remote meetings, can be a detriment to work satisfaction if workers are not trained on how to use it effectively, causing video and sound problems, as well as background distractions.
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 own experience as a startup advisor and mentor, I find that entrepreneurs who can’t attract and maintain a highly motivated team rarely even get off the ground. Thus if you want to change the world with your new business, you need to follow the example of startups like Zappos , which hires according to cultural fit first.
Unfortunately, these goals are often mutually exclusive, and focusing on the wrong ones won’t bring you that business success and satisfaction you crave. For example, TOMS shoes agreed to donate a pair of shoes to the needy for every pair sold. Think twice before committing to a business that is work.
Evan Williams , for example, before cofounding Twitter, started a podcasting platform named Odeo. Their satisfaction comes from proving nay-sayers wrong. Optimism can be learned , by really looking for your successes, rewarding yourself for your progress, and using a mentor to steer you in the right direction.
Based on my own mentoring and investing experience, the best entrepreneurs are pragmatic problem solvers. For example, I remember a classic book by Penina Rybak, “ The NICE Reboot ,” that does a great job of outlining problem solving steps, honed from working with special needs youngsters.
Every entrepreneur can learn from a mentor, no matter how confident or successful they have been to date. Most people don’t know that billionaire Mark Zuckerberg , for example, gives real credit to the inspiring mentorship of Steve Jobs for Mark’s Facebook success. Yet most entrepreneurs simply don’t know how to work with a mentor.
In my own experience as a startup advisor and mentor, I find that entrepreneurs who can’t attract and maintain a highly motivated team rarely even get off the ground. Thus if you want to change the world with your new business, you need to follow the example of startups like Zappos , which hires according to cultural fit first.
For example, Mark McClain, cofounder and CEO of SailPoint Technologies , created an employee growth culture resulting in growth of forty percent a year, with more than $100 million in revenues. Utilize outside expertise and mentoring. Your long-term success and satisfaction depends on it.
For example, all the restaurants I know were impacted by diners staying at home during the pandemic. Seek input from the team, as well as mentors. Don’t be afraid to ask for advice from peers, your advisory board, and outside experts and mentors. Don’t become the victim you fear with no control.
Based on my own mentoring and investing experience, the best entrepreneurs are pragmatic problem solvers. For example, I remember a classic book by Penina Rybak, “ The NICE Reboot ,” that does a great job of outlining problem solving steps, honed from working with special needs youngsters.
It’s with profound sadness we mourn the loss of a true visionary, author, mentor, thought-leader, investor, and friend, Tony Hsieh. Under Hsieh’s leadership, Zappos revolutionized the apparel industry, and e-commerce in general, by being one of the first to prioritize customer satisfaction and service. By Frank Gruber and Jen Consalvo.
Unfortunately, work and satisfaction have become an oxymoron in many businesses. For example, I’m a problem solver by nature, and have worked in several support organizations, but I get bored when all the answers are already known. Many companies also promote local mentoring and coaching opportunities. No one likes useless work.
For example, Jeff Bezos of Amazon always finds time for his " divinely discontented " customers, as an opportunity, rather than an irritant. As a result, Amazon has ranked as #1 for customer satisfaction for many years in a row and has grown accordingly. You can’t find the time for coaching and mentoring.
A key part of her message that resonated with me, as a mentor to entrepreneurs, is her guidance on how to deal with the constant demands and requests that every business founder faces. For example, “I have another commitment at the same time that I can’t move,” or “This isn’t my area of expertise, so I’m just not the best person.”
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. Occupational satisfaction. You need team members who understand and share these values, if you want commitment and accountability from them.
Practicing these will ensure greater productivity, less stress, more job satisfaction, and an improved overall sense of well-being. I concur, based on my own extended career in business and mentoring entrepreneurs.
For example, I often hear proposals for new online social media or collaboration platforms, maybe more specifically tuned to inventors or artists, or easier to use, and populated by experts, to compete against Slack or Facebook. Investors are looking for breakthrough solutions to fund. Be forever curious and optimistic.
Based on my own mentoring and investing experience, the best entrepreneurs are pragmatic problem solvers. For example, I read a recent book by Penina Rybak, “ The NICE Reboot ,” that does a great job of outlining problem solving steps, honed from working with special needs youngsters. Explore solutions, outcomes, and options calmly.
Almost every entrepreneur and new business owner I mentor is certain that his/her idea has a very high probability of success, and all find it hard to believe that ninety percent of startups ultimately fail. For example, I believe Bill Gates would have failed without his partners Steve Ballmer and Paul Allen.
In my experience as an advisor and mentor to entrepreneurs in business, one of the biggest failures I see is a lack of self-leadership. For example, I often hear from aspiring entrepreneurs that “I had that idea first, and he stole it, and is now making money on my idea.” Build your character and reputation with personal values.
In fact, I have found from personal experience and mentoring that both of these are necessary, but not sufficient, for building a business. Examples of exemplary companies practicing this model include Starbucks Coffee and the Whole Foods. Successful entrepreneurs today must practice human-centered leadership to compete and win.
Based on my own mentoring and investing experience, the best entrepreneurs are pragmatic problem solvers. For example, I just completed a new book by Penina Rybak, “ The NICE Reboot ,” that does a great job of outlining problem solving steps, honed from working with special needs youngsters.
Over my many years of mentoring aspiring entrepreneurs and business professionals, I often hear a desire to start a new business, with a big hesitation while waiting for that perfect idea and perfect alignment of the stars. Your time is precious, so don’t waste a minute of it on useless activities or dreaming.
Many people believe that new ideas are the critical element of innovation, but in my experience as a mentor and investor, long-term business success is more about implementation than ideas. Everyone has ideas, but only a few can make them happen. Search for customer pain rather than high margins.
For example, we all know people who really believe that everyone in the world is their supporter, when in fact many are actively working against them. In my role as a mentor to business professionals and entrepreneurs over the years, I have found that it’s important to take a hard look at the relationships around you on a regular basis.
In my business of mentoring new entrepreneurs and advising small company owners, I recognize that most don’t start as experienced leaders, and most don’t realize that people leadership is a primary key to their future success. Building a business is not a one-person job, and leading by edict rarely works today.
For example, it has long been widely accepted that one of the primary causes for entrepreneur failure in new startups is that many give up too soon. Inside the organization, it also pays to offer some of your time for coaching and mentoring to less experienced team members, as an entrée to a supportive relationship.
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.
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.
As a mentor to aspiring entrepreneurs, I’m always surprised by the fact that some never seem to be able to that first startup going, while many others never seem to stop, starting their second or third initiative before the first one is fully hatched. The best way to start is to enable employee decision making on customer satisfaction issues.
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. You need to step out of your comfort zone to socialize, meet new people, and collaborate with peers, company leaders, and mentors.
In fact, I have found from personal experience and mentoring that both of these are necessary, but not sufficient, for building a business. Examples of exemplary companies practicing this model include Starbucks Coffee and the Whole Foods. Successful entrepreneurs today must practice human-centered leadership to compete and win.
A common request I get while mentoring entrepreneurs is for a copy of the startup checklist they need to follow, in order to build a successful new business. The challenge is that every new business needs to be innovative and different, in order to rise above the crowd, bring real change to the world, and give you the satisfaction you seek.
For example, non-computer types should consider delegating their social media, website, and SEO activities. It will inspire loyalty, provide real satisfaction for work done, and become the basis for mentoring and performance reviews. Delegate what you can’t do, and what doesn’t interest you. Pick the best person to delegate to.
Based on my own mentoring and investing experience, the best entrepreneurs are pragmatic problem solvers. For example, I remember a classic book by Penina Rybak, “ The NICE Reboot ,” that does a great job of outlining problem solving steps, honed from working with special needs youngsters.
Increase you focus on coaching, training, and mentoring. Every one of you entrepreneurs should recognize the stage in your business where your greatest satisfaction can come, not from more growth, but from the opportunity to share what you have learned with those who follow, and may carry your legacy forward.
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. For example, recognize that the affinity bias is the unconscious tendency to favor people who are like us.
For example, no one should be convinced that Elon Musk is following someone else’s lead as he charges ahead with Tesla, SpaceX, and other initiatives. The more you use your new-found leadership ability, the greater will be your satisfaction and confidence. Display personal leadership often to build momentum.
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