Telling Your Business: The Do’s & Don’ts of Gathering Business Advice

Your inner voice must absolutely be the loudest and most confident voice in your head when you are proceeding with a business launch.

Shortly after posting “The Truth about Entrepreneurship” blog, a business owner reached out on Facebook with a comment about the importance of family support when a person starts a business. He asked me how I felt about the topic and of course, I agreed that it is key to have the individuals who are closest to you emotionally invested in your endeavor.

However, I also noted that sharing a vision with naysayers, no matter how close they are to you is ill-advised.

Likewise, family and close friends may operate with the purest intentions when sharing opinions about your potential endeavor, but in doing so, plant seeds of doubt in a new project or business transition.

When you are in the early phases of any opportunity, you must protect your idea at all costs.

Loved ones can unknowingly through your vision off course with “helpful” tips or warnings. These notes can disturb the delicate balance between you and your inner voice. Your inner voice must absolutely be the loudest and most confident voice in your head when you are proceeding with a business launch.

You may be thinking, “Nat, isn’t it prudent to get sound advice from someone you trust?” Absolutely. Tapping into the infinite pool of knowledge made available to us through individuals in our inner circle as well as expertise available from a variety of sources outside our immediate reach is critically important to the development of a sound plan.

The trick is you must be incredibly discerning when assessing advisors or sources of advice. Everything you might hear from someone you love and trust, may not be applicable to your situation.

Every business opportunity and every business owner is different. Two people opening two different coffee shops in the same city on the same block will have two totally different journeys.

One coffee shop may have the best baked goods on the planet, while the other has the rarest beans. One owner may be a savvy marketer, while the other specializes in customer service. Loyal customers will swear by their preferred shop. Both can be highly successful in their own unique way.

What if a family member of the shop owner with the amazing baked goods dissuaded her from opening her doors because she didn’t have a great coffee bean connect? She’d never have the opportunity to discover that what the block really needed was a delicious blueberry muffin. YUM!

If you are in the beginning phases of starting your business, here are some things to consider before you share your business idea with a friend or relative.

• What is your potential advisor’s track record? Has he or she done what you plan to do? If not, what expertise do you hope to gain from the conversation?

• In the past, has your potential advisor been encouraging or discouraging when presented with ideas?

• Do you feel strong enough in your vision that if you received negative feedback you could push forward and make revisions to the plan if necessary?

• How much time and energy have you invested in creating a compelling business plan?

• What can you do in advance of potential conversations to strengthen your plan and your position as an entrepreneur?

Take time to really assess your plan before sharing it with anyone. Even if you are starting a family business, do your unit a favor and bring them a solid vision. Put your team and your business in the best position possible by fleshing out key details before making announcements.

Got a question about a business idea or career transition? Hit me up on social media @NatalieKHodge! I’d love to help you get where you ultimately want to be. Subscribe to my weekly blog to get helpful nuggets about living your best life.

Recent Posts

See All