If you think money is the most valuable resource you can have as an entrepreneur, think again! Yes, a strong financial pool is a huge benefit for any entrepreneur but let us look at three resources that can make that money work better and faster for you.
1. A mentor
“A mentor is someone who sees more talent and ability within you, than you see in yourself, and helps bring it out of you.” ― Bob Proctor Seek and keep a mentor. Look for someone who has walked your footsteps and reached a place where you wish to be. A mentor offers you the most valuable thing – their experience and knowledge. They are able to give accurate, impartial and objective analysis and advice on the situations you will face every day. A mentor is neither a cheerleader nor an advisor. A mentor is used best when you forge a trusting relationship where you are safe to explore your vision, let yourself be free to dream and have a fair assessment of your dreams, aspirations and unlock doors.
Make the most of your mentor relationship:
• Take time to create a trusting relationship
• Be an active mentee and find opportunities to learn and observe
• Pay it forward when you are in a position to help others
2. A strategy advisor
“Vision is what they call it when others can’t see what you see.” – Howard Schultz, founder and CEO of Starbucks Coffee. In my view, a business strategy is one of the founding pillars of any business. A strategy advisor will work with you to expand your dream, create a vision and a set of frameworks that allow the vision to realise. As a new business owner, many are convinced that their biggest challenge is to get money to start, and launch. And that once launched with some initial success, things will grow automatically. Unfortunately, the absence of a solid business strategy, including a strong support system, scalability, long-term vision and adaptability are some of the most common reasons why start-ups fail.
How to find the right strategy advisor?
• Ask your start up community for references
• Invite potential advisors for a discovery session and look for a good fit
• Be wary of advisors who offer a miracle pill
3. An accountability buddy If you are thinking – but I have lots of friends already – then read again.
We are not talking about your friends, family or partners here. Being an entrepreneur is a lonely profession, and when you are trying to juggle a lot , you are more likely to miss out on the crucial factors that can have a huge impact on your business. With a properly aligned system of having an accountability buddy, you will have someone monitoring your progress, activities and identifying areas where you must take action.
Three benefits of an accountability buddy;
• A friendly yet firm reminder when you need one
• Help you stay on track and take action
• Track your milestones and celebrate your success
