AUGUST 2, 2018

 

It’s no secret that entrepreneurism, at times, can be a lonely lifestyle. It’s difficult for non-business owner friends and family to relate to what you are going through. This is where the beauty of peer-to-peer organizations (such as The National Association of Women Business Owners (NAWBO), Vistage, Entrepreneur’s Organization (EO), etc.) come into play. You are finally immersed into an environment with like-minded entrepreneurs where you can openly speak upon your experiences as a business owner.

Peer to peer organizations can be the perfect place to start when seeking out a mentor. Mentors are entrepreneurs who you aspire to become; They are trusted individuals who are willing to guide you on your entrepreneurial journey. We recommend identifying someone who has been in your shoes with experience working in the same industry for the best possible relationship and advice.

Building a foundation of trusted peers to confide in is essential. Though peer networks may not be able to outline what exact steps need to be taken to overcome a hurdle or achieve a goal, they are able to provide you with perspective that family and friends often cannot.

Customization is key
When seeking advice it is important to be sensitive of your sources. If you are in need of actionable steps to accelerate business growth or guidance formulating your exit strategy, engaging with an advisor is your best resource. Though advisors and mentors are both people you can rely on for guidance, there is a key distinction between their functionalities.

A mentor provides insight from their personal experiences that you may or may not be able to apply to your specific situation. Whereas advisors are paid professionals who provide their expertise and advise you on what you should and should not do. Advisors can help to evaluate your particular situation and guide you in the right direction for your specific business goals. This includes the integration of your personal and professional life in a holistic approach. Here at Gerber, our process is just that.

The ultimate combination
Advisors and peer networks are not mutually exclusive! Engage with both to enjoy the best of both worlds. As an entrepreneur, you may get advice that you don’t take, but the advice you are getting might help frame the decision you ultimately invest in. Gaining perspective from peers and actionable guidance from an advisor is the recipe for optimal success!