Saturday, February 7, 2009

Say this out loud - I DON'T KNOW EVERYTHING


I think it's because entrepreneurs don't say this ENOUGH that they delay their business development progress.

When you can admit that you don't know everything and that you NEED HELP, you will find that there are tons of people out there willing to offer their time and advice.

The pre-req is they have to believe that you are the one to make it happen. So, DO YOUR HOMEWORK. I never knew how big of an impact my work ethics would have when it comes to convincing people to help.

People will know if you worked hard to prepare your first meeting with them. Take for example, my first meeting with my tech dev advisor. I was told that he took his work very seriously and was extremely knowledgeable about the Forex space. My info source didn't lie.

I made sure that I read up on the potential advisor's bio, polished up my knowledge of the online financial service competitive space, and researched my advisor's past company. To make the info relevant, I compared it against PeerFX so I can tell him what's different about us and what his expertise can contribute to furthering PeerFX's progress. I need to tell him why HIM, out of all people, is perfect to help us get where we want to go.

2 hours. The length of our first meeting. He had budgeted for 1 hour I believe. Needless to say he grilled me with questions about PeerFX and why I think it will succeed. I answered everything the best I could and promised I would follow up with answers to the questions I couldn't answer. I kept my word.

I got a second meeting.

This is how it should work. Nothing replaces hard work. You can have a SUPER SMART team, but the key factor that differentiates successful teams is hard work. You may be able to finish 10 hours of work in 5, but do you sit around for the remaining 5 hours or do you get a head start on next day's agenda? It's so simple. I would start on next day's work.

Do you know of a lot of smart people who sit around doing nothing thinking that the world should beat a path to their door with work/fame/fortune because they are so damn smart? I know quite a few of those, and it's a pity.

Don't let yourself do that. Get up and start working. Time is something you can't buy!

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