Every entrepreneur should have a coach or mentor.
A mentor will guide you in this difficult journey. A mind filled with advice and experience for your complicated problems that google cannot solve.
In our ProfitLab Show & Podcast, we talked with Pat DePirro and his advice for entrepreneurs starting their journey.
Here is what he said in 3 short points:
1. Learn how to be an active listener
In the world of money, perspective is your biggest asset.
Understanding your customers and employees will allow you to manage your business properly. Every entrepreneur needs to develop an active listener mentality.
Managing a business includes solving problems and creating opportunities for everyone. Instead of guarding against criticism, embrace it for any potential changes. Instead of focusing on your idea, take a moment to listen to an employee or a customer.
Allowing yourself to be open will create new opportunities for growth and development in your product. Also, it will create a meaningful relationship with your customers.
Every entrepreneur that is an active listener has an advantage over their competitors.
2. Stop being closed-minded. Embrace technology and innovation.
Nothing new grows from an old seed. Embracing technology and innovation may be a risk. However, implementing tradition and transformation will create a breakthrough product.
Remember computers? You are reading this on one right now. Before the first computer, no one wanted to invest in a company that produced them. Investors believed it was too risky. Now, it is one of the most popular products in history. Furthermore, the early investors in IBM or Microsoft benefited from taking that risk.
When you create a product that meets innovation and tradition, the possibilities are endless.
Do not try to create another computer, try to create the next Apple.
3. A Successful Entrepreneur Needs to be Tough
In business, mentality breaks or makes companies.
The mental battle is the most difficult and complicated in human history. Especially when you question your ability to succeed.
At the end of the day, no one will motivate you more than yourself. Creating a healthy mentality will increase the value of your business. When there are no orders, you need to believe in your mission. When there are no leads, you must believe in your ability to find them. The market is out there, but finding it requires a tough mindset.
A healthy mental state will allow you to grow your business. Understanding your weaknesses and strengths.
Without toughness, no one can create a successful business.