How to Benefit Most From Mentors & Advisors (Hint: They Are Not Seeking Jobs!)

How to Benefit Most From Mentors & Advisors (Hint: They Are Not Seeking Jobs!)

What causes startups and businesses to fail? I contend that it is not the quality of their product or service or the intellectual property that protects it, but rather the entrepreneur’s inability to leverage their power to secure and capitalize on commercial opportunities. A prerequisite and mandatory step to leverage your power is to evolve, develop yourself, and mature as an entrepreneur: self-assess, understand your capacity and learn from experiences both inside and outside of your business. Almost every successful entrepreneur can recognize a few key mentors and advisors who have influenced their journey and helped them along the way. If you have raised equity funding, you may benefit from the guidance and mentoring that investors provide (yes, qualified investors don’t just write a check!). After all, it does take a village to raise an entrepreneur! Both mentors and advisors are an important part of the entrepreneurial journey, and although the terms are being used interchangeably, it is important that you understand the difference so you can benefit the most from their guidance.   Mentors: A mentor is someone who will support you and encourage you to develop your skills and knowledge as the leader of your company to maximize your business potential and achievements. They have some entrepreneurial experience and a general business acumen. They can be close friends, professional acquaintances or come from organized resources group like Score or the Business Mentor Team. Mentors are most beneficial in the ideation and early stage of a business. Why? Because their main focus is you as your business results are in direct relation to your development and maturity as...

4 Traits Of The Best Leaders

4 Traits Of The Best Leaders Workplace culture is constantly evolving to meet the needs of new generations of workers as well as new economic demands. In today’s fast-paced, competitive, and mobile world, leaders have more opportunities and greater necessity than ever to engage their...

Great Advisory Boards: Harnessing Their Power

Great Advisory Boards: Harnessing Their Power Over the past few weeks, I have talked about the demonstrable, high ROI of strategic planning for companies of all types and sizes, along with suggested processes and tactics to complete that plan on time and under budget. As important as the creation of the plan is its ongoing review and...

The 6 Biggest Mistakes You’ll Probably Make Raising Money

The 6 Biggest Reasons Startups Fail at Fundraising Jeremy Liddle believes entrepreneurs are changing the world and personally understands the challenges they experience. The number one problem cited by young entrepreneurs is raising funds with Forbes reporting that an astonishing 90% of start-ups fail. A key element in raising funds is the power of your inner...

3 Moves To Reap The gold Of The New Knowledge Economy

Breaking news! Mediocrity has died! R.I.P. It all started about five to seven years ago when social media started becoming a mainstream platform for interaction, news and entertainment. There became a devastating fight between Excellence and Mediocrity. Recently mediocrity has succumbed to its injuries and has died. How could this happen? According to the book “Intellectual Capital” (author Thomas A Stewart), we are in a knowledge based economy. ‘In this new era, wealth is the product of knowledge’, says Stewart. This means there are more intelligence and knowledge in products and services than there are parts and labor. For example a laptop today does way more in terms of processing, speed, weight and cost less than a desktop of five years ago. They have better chips, lighter cases, etc., all as a result of intelligence. Today’s products and services have made a paradigm and fundamental shift to be excellent. Why? Increased competition, abundance of information available to consumers as well as consumers being more discerning with who and how they give and spend their money. How do you transform your business in this new paradigm? Become the expert at what you do. Know and focus on your product or service so intently that when asked you can exude such confidence that you will leave no doubt in your knowledge, experience and ability to perform. Fill knowledge voids with knowledgeable people. You can’t be great at everything, so surround yourself or hire/outsource to people that possess the knowledge, experience and skillset to execute at a level you can’t. Everything is learnable, however the key is to understand what is worthy...