As a new business entrepreneur, there are so many details to put together.
Many of them are new and confusing.
You may have doubts and a lot of questions.
And you can’t make decisions or move forward without answers.
What Action You Take Next Is Critical
What you do next will determine how you and your business develop.
If you’re new at something, chances are you have much to learn. Even if you’re an expert at your business topic, you probably aren’t at marketing, record keeping, writing, social media, setting up a website, pricing, and other necessary skills needed to run a business.
And most important your old mindset has to expand to meet your new goals.
You may think you can learn and do everything yourself. There are many places you can look. You can get information from books, online courses, websites, online groups, and forums. All the knowledge you need is out on the web. You just need to find credible sources, take the time to wade through it and to work on your own.
But that’s certainly not the only way or the best way. To grow and succeed faster you need to get outside advice.
Ask For Help
A better option is to seek experts or peers who can educate and guide you.
Successful entrepreneurs don’t try to do everything, they recognize what they lack and look for the right person or team to support them.
If your goal is to be successful you need to find great people who will keep you accountable, help you learn, challenge you to get out of your comfort zone and help find solutions to difficult problems. They can open your eyes to new possibilities and offer new insights.
Who Can Provide Help
Mentors, coaches and mastermind groups are often sought to provide support.
All three are valuable resources, and they are not mutually exclusive. The most successful entrepreneurs may engage several to help and advise them in many areas.
Let’s look at each one. The line between a coach and a mentor sometimes overlap, and some can be both.
Mentors are advisers and provide guidance to issues as they arise. The relationship between the mentor and the mentee may be long term, but it will change as the issues become more complex.
As per Forbes magazine “Mentors may not have expertise in the mentee’s field, but they understand how to navigate business in general.”
Many mentors help you grow as an individual. They focus on your mindset and habits to help you become the person you need to become to accomplish your goal. And when they’re offering business guidance, it’s more broad than detailed.
Coaches tackle specific issues and offer specific strategies. For instance, if you’re writing a book, or preparing for an important talk, you would employ a coach to help you with that task.
Forbes magazine again, “Coaches, on the other hand, often have expertise in the same field as the people they’re helping.”
A coaching relationship typically lasts for a shorter time. Once the book is completed, you come up with a pricing strategy for a new product, or you’ve delivered the speech, the coaches job is complete.
I’ve used coaches when I don’t have the expertise to do a good job. For instance, my weak spot is defining a social media strategy. Rather than taking courses, or reading books to become an “expert”, I find a coach who can help me. It shortens the time needed to get results.
Mastermind groups have a different focus. They are neither one on one mentoring, nor coaching.
They consist of a group of like-minded people who have the same interests and meet to help each other achieve success. Each member of the group has their time during the mastermind meetings to discuss their most important question. The rest of the group offers help with a combination of brainstorming, support, accountability, and problem-solving.
The power of a mastermind
The power of a mastermind group is the synergy that takes place when all members are working to solve a problem. Many times it’s a simple idea thrown out by one member that triggers another member to connect some dots and offer a creative solution. It is this alliance that makes it unique from a coach or mentor. You’re not looking to one person as the authority with all the answers, even though they have an important place as discussed above.
Instead of a single point of advice, the members of a mastermind group are more like a Board of Directors who works for the good of the business. The goal is to find the best answer to your problem.
I have run masterminds and am a member of two groups myself. I have found that they have been a big help in setting the direction and success of my business.
As a new business owner, look for the help you need as soon as possible. Whether that help is from a mentor, coach, mastermind group, or a combination. It will make a huge difference in getting direction that sets you up for growth.
Published by CII © 2019