How to listen to the right people and make better decisions for your startup

Photo credit: Pixabay.

There’s a saying we often hear: “You are the average of the five people you spend the most time with.”

If that holds to be true, then it means that who you mingle with as an entrepreneur will determine how successful you are in the short term. And your decision on who to hang out with the most can change what you may become in the long term.

Even though my time in business is pretty short and I have yet to achieve what I’ve set out to do, my understanding of my circle has deepened. My circle comprises of everyone I shared business with—business associates, partners, and potential customers—who helped build my business, GetVan, in many ways.

So, I’d like to share my perspectives with would-be entrepreneurs and help them in their future journeys.

My rocky start

As entrepreneurs, we are often by ourselves. We bear the burden of our business 24/7. We make mistakes in our decisions—some are trivial, but others may be so drastic that we can end up losing everything. I was lonely at times dealing with matters and making decisions on my own.

Moreover, I was a novice, having no single corporate experience. I only had military service under my belt. I felt lost and was in despair many times, and tried to dig myself out. Eventually, I realized that I could have prevented many of my mistakes if I had spoken to the right people and really listened to them.

Fortunately, some of my closest business partners and friends encouraged me and often provided me with the energy I desperately needed.

My circle

The climb to Mount Everest is like an entrepreneur’s journey. It’s unforgiving regardless of your experience. But having more experience means you are better prepared and equipped, you can assemble a better team, and your circle comprises of experienced people who can really help you.

You need to surround yourself with experienced individuals to survive the brutal journey. I can briefly categorize my circle into three:

Successful business owners

These people know what works and what does not. They understand their industry deeply. They not only survived the competition but also thrived among their competitors. Listen to them carefully when they tell you about the problems they faced and how they overcame them, as you can always apply the lessons when you face similar issues.

Don’t be shy to share your problems with them as well because they can offer you some insights. They can even link you up with potential customers in their network. A business referral often works better than 100 cold calls.

Another reason why you should hang out with successful business owners is they are exuberant, determined, and want to make a difference in this world. They greatly helped in reviving my entrepreneurial spirit when I was low-spirited and burned out.