What is Success?

Success means different things to different people.

When Entrepreneurs start and build businesses, their definition of success is most often that of  “making lots of money,” or fulfilling their Mission. When they reach their desired level of this definition of success, then what? What about the process of reaching there?

Success is not only about making money or attaining wealth. Long term success should be judged by the degree to which you are enjoying health, love of family,  friendships, balance in life, and internal peace.

Evaluate your self-improvement, the number of people you have mentored, the lives in which you have made a difference, and the communities that you have benefited to gauge your true level of success.

Making lots of money of course, does help in reaching the road to success.

Ravi Patel

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Published in: on October 9, 2018 at 4:45 am  Leave a Comment  
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Coaching Employees

“A good coach will make his players see what they can be rather than what they are.” – Ara Parasheghian

Like good coaches, Entrepreneurs have to find the potential in their employees. When hiring, don’t merely evaluate the current skills and experience of the applicant. Rather, determine what the person could become with proper mentoring and training.

Given right coaching, raw talent could be molded to perform at a high level in any organization. The problem for Entrepreneurs is that they mostly focus on short-term needs and do not have a long-term vision for human resource acquisition and management.

When a sculptor views a stone, he/she is evaluating whether it could be transformed into a thing of beauty. Similarly a land developer sees beyond the empty expanse of land and has a vision of what a housing community or golf course it could become.

Entrepreneurial leaders have a great vision of what their idea or product could become. They need to use a similar vision towards their employees and see their potential rather than settle for what they are right now.

Do the Right Things!

Ravi Patel

www.patelCFOservices.com

Entrepreneurs as Mentors

When schoolchildren are asked what do they want to be when they grow up, the answer is entrepreneur. A recent Gallup poll shows that 77% want to be their own boss, 45% want to start their own business, and 42% want to invent something that changes the world.

In an era of role models such as Steve Jobs or Mark Zuckerberg, this is not surprising. However, these type of famous individuals are not available to mentor most students.

What role can and should Entrepreneurs play in mentoring such students? I am sure that successful Entrepreneurs had role models and mentors that guided them through their passion of becoming innovators. Do they then not have a responsibility to give back?

Most students might have a desire to be entrepreneurs, but have no experience or knowledge to better understand what it takes to be a risk-taker and grow a business. If groomed at a younger age with seasoning from experienced Entrepreneurs, these students have a better shot at becoming successful.

Entrepreneurs need to take leadership in exploring opportunities in their local communities as to how they can mentor aspiring students. After all, the spirit of innovation and entrepreneurship has to be kept alive. Who better to do so than ones that have already been through that journey?

Ravi Patel

www.patelCFOservices.com

 

Published in: on October 24, 2011 at 5:53 am  Leave a Comment  
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Mentoring

Early in their careers, Entrepreneurs often have role models that they look up to. If lucky, the role models or other influential people could become mentors to the Entrepreneur and provide guidance and counseling, as needed

As Entrepreneurs themselves become successful and mature, do they provide mentorship to others?

Besides developing their senior management team, Entrepreneurs should identify and mentor high potential individuals. This would not only give back in kind what the Entrepreneur benefited from his or her mentors, but also develop future leaders for society as a whole.

Providing mentorship is a part of “Doing the Right Things” for Entrepreneurs.

Ravi Patel

 

Published in: on March 28, 2011 at 4:59 am  Leave a Comment  
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