business advice

Q. Who do you turn to first for advice and why?

The following answers are provided by the Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.

1. Myself

Before going to others, look inward. You know your situation better than anyone, and you are capable of amazing creativity. I find it useful to pretend that I’m looking at someone else’s issue instead of my own. If someone else were coming to you with this problem, what advice would you give them? Take a step back and objectively evaluate what is happening.
Laura Roeder, LKR Social Media

2. My Social Following

I will post almost all of my personal or professional questions on Twitter and Facebook because I have some pretty awesome connections. You can expand your social circle online far faster than you ever could in person. Throw out a question and just watch all the great advice roll in. Also, you don’t have to endure endless conversations online. Who has time for that?
Maren Hogan, Red Branch Media

3. A Mentor Within My Industry

I turn to a handful of mentors in my industry, which includes a handful of customers or vendors. This allows me to involve these mentors in our future strategy and it can lead to potential partnerships. It’s always great to make a call with one goal in mind and then leave with a new business idea or strategic partner.
Tim McHugh, Saddleback Educational

4. My Peer Advisor

I have a daily call with Bhavin Parikh, CEO of Magoosh.com. Even on weekends we talk. While we run completely different businesses (watches for me, test prep for him) we’re going through many of the same struggles of growing a business. He knows everything about Modify, so that when I call and bring up some small issue, he has all of the necessary context and can simply give advice.
Aaron Schwartz, Modify Watches

5. My Father

My father is without a doubt the first person I turn to for personal and business advice. He has seen just about everything and has met just about every different type of person in his life as a lawyer. He is a very grounded, well-rounded person who has been a successful business person and (more importantly), human being.
Jason Grill, JGrill Media | Sock 101

6. Key Stakeholders

I go to my key stakeholders, along with my team of external advisers. As the ancient proverb states, “A wise man has many counselors.” You want a diversity of knowledge, experience and education to help create the highest likelihood of success.
Parker Powers, Millionaire Network

7. My Mastermind

When I need advice, I turn to the other female entrepreneurs in my mastermind. I couldn’t recommend more that all entrepreneurs have a group of peers to whom they can reach out.
Alexis Wolfer, TheBeautyBean.com

8. An Executive Coach

One of my most trusted advisors is an executive coach. She has been part of my team since my business was only a few months old. Executive coaches are great because they know more about your business’ inner-workings than an outside mentor, but they are more removed than a board member or colleague. If you find the right one, he/she can be an invaluable impartial resource for key decisions.
Brittany Hodak, ZinePak

9. My Wife

My wife has no business background. She is a teacher. However, she possesses a deep understanding of me unlike anyone else in the world. Bouncing ideas off of her proves to be an effective exercise since she offers a fresh perspective on the issue at hand.
Logan Lenz, Endagon

10. Google

I turn to Google because I hate asking questions without understanding the topic. Once I have a basic understanding, I am able to ask better questions, which leads to better results.
Matthew Moisan, Moisan Legal P.C.

Image Credit: Shutterstock.com


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