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As a long-time mentor and business advisor, I find it ironic that many look only to friends for advice. They forget that friends tell you what you want to hear, while good mentors tell you what you need to hear. When the message is the same from both, you probably don’t need the mentor anymore, but you always need the friend.
In my experience working with startups, the best approach these days is to find and use a good mentor (been there, done that). Of course, mentoring is not new – it’s been the favored way to learn arts and crafts since way back in the middle ages. But I assert that mentoring in business is making a comeback.
.” For startups entering program they receive investment capital, access to coworking space at Disney’s creative campus and mentor support and guidance from top Disney executives, entrepreneurs, investors and other notable business leaders from the entertainment and technology communities, and have a Demo Day at the campus.
As a mentor to aspiring entrepreneurs, the most common question I get is, “I want to be an entrepreneur -- how do I start?” You have to enjoy working with people -- partners, customers, investors and more -- as well as products to start a business. Marty Zwilling First published on Huffington Post on 12/23/2017.
Today, customers and future managers put a higher value on relationships, and expect to know you from industry conferences, social media, or recommendations from peers. Use blogging, outside publication, and speaking or mentoring opportunities to establish credibility and stand out above peers. Walk away from a bad role or customer.
In addition, today’s customers judge a company by perceived people relationships through social media, phone conversations, and sales experiences. Customers demand more engagement and flexibility. People-centric leaders drive ownership and engagement down to their customer-facing team members.
Yet, in my experience as a mentor to entrepreneurs, the majority of failures I see are related to starting and growing the business, not developing the solution. In fact, I can condense the sum of my business experiences into eight key disciplines: Start with a total and ongoing customer focus. Demonstrate an ongoing sense of urgency.
In my role as a mentor to entrepreneurs, I often recommend attacking bad habits and efforts to improve using the six basic strategies outlined by the authors. Be honest with yourself about small habits you have which may irritate your direct reports, coworkers, or customers. Marty Zwilling First published on Inc.com on 02/22/2017.
This is an emerging theme in the past decade as investors learn that customers assign more value and loyalty to business owners who display this attribute. The result is a win-win-win situation for investors, entrepreneurs, and customers alike. Develop the right mentoring relationships. More value delivered and success for all.
Julie is known as the entrepreneur’s selling mentor, for both men and women. Make it real for your customers with professionally finished collateral and proposals. Always treat customers with respect, honesty, and warmth to make the selling process more enjoyable, fun and delightful. Craft your irresistible pitch.
I was mentoring some graduate students at a local university recently, and I sensed again that profit seems to be a dirty word these days to many aspiring entrepreneurs. I’m certainly not a fan of customer rip-offs, but even non-profits have to be cash-flow positive, or have deep pockets, to help anyone for long.
In my role as a mentor to entrepreneurs and an angel investor, I find that too many are stuck in this myth that a good pitch, and good marketing content, should consist of more product features, and more hype on customer benefits. Customers buy from people they trust, respect, and admire.
Based on my current role as a mentor to entrepreneurs, I will paraphrase and recommend Whiddon’s top techniques in business terms: Build an image of likability and rapport. In today’s customer context, you can foster rapport by dressing like them, making every effort to look attractive, offering compliments, and listening intensely.
Focus on products and customers, and trust your accountant. The accountant may accurately record every transaction, but only you can make the strategic tradeoffs on marketing costs versus customer revenue, product quality versus support, and so forth. Marty Zwilling First published on Inc.com on 07/14/2017.
The bad news is we have to think like a business, with all the implications of branding, finding customers, and competitors. She speaks from years of experience mentoring and facilitating independent contractors and helping large companies, since well before the term “gig economy” was even coined.
If team members and customers can’t relate to your purpose, or don’t agree with it, your business will not thrive. It’s important to involve your team in the definition of purpose, and agree it is consistent with a viable business model, including opportunity, customer need, and a positive return.
Based on my experience as an angel investor and a mentor to dozens of entrepreneurs, having no business plan is the quickest way to define yourself as just a dreamer, or at best a hobbyist. Providing your product or service free to customers may sound attractive in marketing materials, but you need revenue sources to survive.
I can certainly attest that my own efforts to coach and mentor aspiring entrepreneurs have taught me much about business and people. The key to success as a startup is finding like-minded people, and it can work on the front-end with sponsors, before you have back-end customers for revenue. You learn as much as a coach as the student.
In my experience, and from the thoughts of others who have “been there and done that,” here is my list of the top elements you should be looking for: Focused on customers and team, rather than “me, myself, and I.” These will provide the competitive edge you need with customers and less-focused team members. Never makes excuses.
As a mentor to many aspiring entrepreneurs, I often get asked for next sure-fire idea. They will also amplify your inspiration to your customers, and keep it growing in your own mind. These people need to cover the gamut from partners, marketers, suppliers, to customers. Create a great customer experience, not just a product.
In this age of interactive social media, your culture image quickly spreads to customers, and determines their loyalty. He cites eight leadership actions, which I also recommend, from a non-scientific perspective, as a mentor to entrepreneurs. Marty Zwilling First published on Huffington Post on 01/21/2017.
Being one small company amongst the sea of thousands of startups vying for customers, capital, and talent, the way to get noticed above the crowd, connect with that next big partner, and raise some capital is to throw your hat in the ring to compete at Startup of the Year.
In my experience as an advisor and mentor to entrepreneurs in business, one of the biggest failures I see is a lack of self-leadership. Your character, as a business leader, will determine your perceived reputation by peers in business, team members, and customers. Marty Zwilling First published on Huffington Post on 11/10/2017.
After the hire comes mentoring and continuous training as the key to engagement. Your company’s success is dependent on your customer’s happiness, which is set primarily by engaged employees. Today, every company needs a value-driven culture that is shared by employees, customers, and shareholders.
With real-time online reviews and feedback via the Internet, and instant relationships via social media, a voice from the top that is inconsistent with what is heard from the firing line defines a dysfunctional and noncompetitive company for today’s customer. Marty Zwilling First published on Huffington Post on 02/12/2017.
Business leaders must convince the team that the decision makers today are customers, the marketplace, competition, feedback, innovation, and breakthroughs. Develop accountability through coaching and mentoring. Marty Zwilling First published on Inc.com on 10/13/2017.
We all face pressure in our lives, but there’s nothing like that of an entrepreneur facing customer crises and the competitive challenges of a new business. Humor has been proven to provide numerous business benefits, including customer loyalty, productivity, and reduced absenteeism. Reframe from tension to humor in your approach.
In my years of mentoring and advising business leaders, I find that real planning for the future always gets the short shrift. The command and control leadership of the past is proving to be too inflexible, devoid of values, and not empathic to people issues – customers, employees, and partners.
Based on my years of experience mentoring and advising entrepreneurs, you need to attack problems and challenges with a mindset of success, or it is unlikely that you or your business will survive. Don’t try to be the lone hero – it pays to listen to other members of your team, who may be closer to the customer, and have better insights.
Take the time to listen fully to the voices that really count, including your team leaders and customers. The best mentors in business often find themselves learning as much as their mentees. Marty Zwilling First published on Inc.com on 10/23/2017. If you are concentrating on too many things, creativity will not come.
It also means setting up a personalized coaching and mentoring system, and accelerated rotations for top talent. Inspirational leaders are the ones with the greatest connection to customers and mission, a large set of relevant strengths, and active engagement with team members. Build a culture guided by principles, not rules.
Even after many years mentoring entrepreneurs and advising businesses, I continue to be surprised by the primary focus on products and processes, and the often incidental attention to hiring and nurturing the right people. It’s the same for customers and products, where analytics have long proven their value.
In fact, I’m a strong proponent of coaching and mentoring in the workplace, but I recognize that these efforts can only go so far in eliminating your human resources problems, and increasing team morale and performance. Look for natural-born leaders with drive, vision, purpose, and a focus on the customer.
That means that you need to overtly market yourself, rather than wait and hope that the right people or customers will find you. In my long-time role as a mentor and business advisor, I still see too many people who are waiting to be found as a candidate for their dream role, or waiting for investors to find their startup.
In the same way, you may think that people assessment is all about skills and experience, but as a mentor to business owners, I have learned to look more for the right attitude, persistence, and determination, as success factors. They see customer support as positive lessons to improve quality and processes.
Trust is the key to productive relationships, and relationships with peers, constituents and customers are key to great businesses. The best leaders spend more time supporting and mentoring their constituents to develop their competence and confidence, and then delegate effectively with accountability.
Businesses can only succeed if they can make customers see a win-win situation by working together. Marty Zwilling First published on Inc.com on 04/11/2017. Favor people with a perpetually optimistic bias. Coaches can only help if they have the power to make people see a tomorrow that is better than today.
Ask for help from advisors and mentor your team. Thus you need to listen and learn the current reality from your customers, your team, advisors, and experts. In business, to get from dreams to reality, it takes effective communication with many others, including your team, customers, investors, and partners.
As a long-time mentor and advisor to new business owners, I can attest to both the need for mentoring, and the satisfaction that comes from watching an aspiring but tentative entrepreneur grow into someone capable of changing the world. Building relationships, and finding ways for a win-win, is what mentoring is about.
Based on my own experience mentoring entrepreneurs, I see the same things, and recommend the following principles for every aspiring business leader today: Communication must address content and relationship. Either can get you valued and followed, or rejected by your team and your customers. The same concept applies to customers.
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