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Why Businesses Fail
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Article 6: Failure To Seek Advice
The same strong-willed confidence necessary for
success can also be an entrepreneur’s undoing.
Self-assuredness can inhibit entrepreneurs from
seeking helpful advice—a fatal blind spot at any
stage of business development.
“A lot of times it’s an ego issue,” observes
Bette Otte, a Southern California marketer and
business counselor. “Even when people seek
advice, they tend to shrug it off.”
Otte describes the mindset as an,
“If-I-didn’t-think-of-it,-it-won’t-work”
attitude. It’s severely limiting—and failure
prone.
To overcome this inhibition, swallow your pride
and ask for help. Here are some resource ideas:
Pay for expert help. If you are setting
up an interoffice network, don’t be shy about
seeking professional consultants, rather than
climbing the learning curve yourself while
simultaneously running your business.
Make buddies. Circumvent pricey fees by
ingratiating and flattering experts whose
opinions you value. Free advice is available,
but you must ask.
Call the SCORE (Service Corps of
Retired Executives) office (www.score.org)
for invaluable expertise in many disciplines,
all free. Sponsored by the SBA, SCORE
counselors form a network of volunteer
business executives and professionals for
troubleshooting and counseling.
Get a mentor or coach. These come for
free and for fee. The plus is the ongoing
relationship. Also, Otte explains,
entrepreneurs reason that, “I’m not really
stupid asking questions if I have a mentor.”
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