Learning from the Experiences of Others
5 important questions on Learning from the Experiences of Others
What is the three-step Mentor Search Plan?
- Compile a list of prospective mentors.
- Contact the person that your research and intuition indicate may be the best mentor for you.
- Persuade your prospective mentor to sign on.
How do you retain your mentor and make the most of the relationship?
- Understand that mentoring is a personal experience, not a business one.
- Follow up.
- Be honest with your mentor about the problems and issues you face.
- Leave your thin skin at home.
- Don't blindly follow all of your mentor's advice.
What are the primary benefits of having your own board of advisors?
- Credibility
- Lead generation
- Connections
- Advice
A board is also inexpensive; most board members will gladly donate an hour or two of their time every three months or so for the price of a lunch. Of course, you can reap these benefits only if your board meetings are well organized, if the board members feel that you're not wasting their time, and if they feel that you're heeding their advice.
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
Why might a partnership make sense for you?
- Complementary skills
- Additional capital
- Greater problem-solving capacity
- More flexibility
- Ease of formation
- Less risk
The number one rule of a partnership is this: don't enter into one without first consulting an experienced small-business lawyer.
What kind of benefits does an business incubator offer?
- Below-market rent
- Free or discounted access to a variety of office services
- Discounted administrative services
- The opportunity to network with other entrepreneurs who are in the same knee-knocking, start-up boat
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding