Being rich doesn’t always mean you have lots of cash. When you’re starting a new venture, you need plenty of knowledge.
How else are you going to turn your great idea into a scalable business?
Knowledge grows from learning. And you can accelerate your education by getting the best possible validated advice.
Advice is not in short supply if you look in the wrong places or turn to people who aren’t equipped to provide it.
Advice about what you should focus on, what matters most, and what to do first is everywhere. Of course, anyone can tell you to get a website, do a business plan, and find investors.
What makes advice potent?
Most of this is only people’s opinions, unless they:
- Have had experience and been successful at doing what you are trying to do.
- Are emotionally invested in your success.
So, If you’re opening a bar or restaurant, get guidance from someone who’s been in that industry for a long time, not a from mining consultant.
Similarly, if you’re creating a consulting or services venture, advice from a fish and chip shop owner isn’t going to be much help.
All this is equally true of my advice to you, with a couple of caveats.
I have walked this path before you many times. The fact you are reading this means that, as a fellow founder, I’m emotionally invested in your success and I want you to succeed.
In my experience, the first hard step for all aspiring entrepreneurs is getting good advice.
If you’re building a disruptive, scalable venture, this is the only path you can take.
First, be aware that not all guidance is fit for purpose. So, don’t ask a lawyer or an accountant if they think you have a great idea for a venture.
Although their advice on legal matters or business structure is valid, they’re not the right person to help you turn your great idea into a scalable business.