Growing a business

Mentors are wonderful things. Either casually of formally organised, getting another perspective from someone who has been there and done that is valuable.

There is something to say for a mentor’s “larger business” perspective. Plus if your mentor has entrepreneurial experience it’s the best of both worlds. A mentor does not have to be an expert in everything you are. If you are operationally weak it may help to have a mentor who is an expert at operations – providing you respect their expertise and experience. One of my mentors is an entrepreneurial former accountant. He keeps me looking at the numbers.

Plus most startup entrepreneurs don’t have the skill set to take a company from startup to $50M turnover.

But if you can take a startup to $5M profitable turnover, and repeat that quickly, there is a niche to make you rich.

Others can take a company from $5M to $15M. It’s their sweet spot.

Find your expertise and exploit it.

It depends on what you want out of your life and business. Single-eyed focus is the common trait for all such creatures.

Interestingly I have some friend who are discovering their business can support a nice lifestyle if they take the foot off the accelerator. They are discovering new priorities in their lives now that they have kids and grey hair.

One friend travels three months of the year and her business runs itself in her absence. I know entrepreneurs driving their companies to IPO who pause to consider their options when they hear that.

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