In the last year I have talked to over 800 entrepreneurs. About 200+ were discussions over 15 minutes. That roughly equates to about 1/2 my work time. This time was split between listening and learning from them and the rest was spent sharing some “gyaan“. For what it was worth, most of them were very nice to me and politely nodded when I dispensed my 2 minutes of “framework advice”.
What I have learned is that it is very hard to give an answer that’s cogent, well thought out and precise. In an era where there are enough advisors, mentors and other folks giving lots of advice, there’s a cottage industry sprung up around trying to “help” entrepreneurs and “grow” the ecosystem.
Here’s the challenge for us as entrepreneurs. The pretender and the contender both wear the same clothes, speak the same language and likely use the same words. We have to discern who’s who.
So what’s the framework to use to determine who you should listen to and who you should ignore?
There are enough folks suggesting that peer learning is the way to go. After all, what better than someone “like you” who has just been through the same path before. The pros of peer learning are usually – practical advice, “here’s what I did and it worked for me” and knowledge dished out without airs and graces. The cons are lack of context, the inability to give you a framework to think and providing answers to questions that you might never encounter.
There are other folks suggesting that “successful entrepreneurs” should provide you with the right advice. Meaning, folks who have seen relative measure of success and would be likely able to share more refined nuances of their journey. The pros are well thought out arguments, balanced perspective on what works and does not. The cons are that success comes over a long period of time. The things that worked a few years ago are rarely going to work as effectively.
Still others say the best advice is from “failed” entrepreneurs. They can possibly tell you everything you should not do, but not all the things you most likely should do. The pros are that you get to really understand that the rose colored glasses that are worn tend to be tinted anyway. The cons? – What should you do? Opposite of all the things the failed entrepreneur did?
At the end of the day it will become obvious that to have some modicum of success, you will have to blaze your own trail. Else someone who has done the “exact” same thing that you did, will likely “clean up” before him, leaving nothing but crumbs for others to “feast” on.
The only way to know who the pretender is and who the player is to watch them in action.
Which is why I highly recommend that you work with the advisor and mentor for a few weeks or a month before you actually bring them on board. For the first month, if they truly believe in what you are doing, they would offer their time for free, then you can overcompensate them for their work post that effort.