Recruit a winning team for your startup

Starting a new business can be a challenging and rewarding prospect.  Like many other endeavors in life, it's easier if you have a helping hand guiding your every move, preventing you from making mistakes that might not always be visible to a novice eye.  

For that reason, it's no surprise that you hear so many successful people got where they are today with the help and advice of a mentor.  The mentor relationship is not uncommon, but it is definitely under-utilized.  You've probably heard of mentor relationships in education relationship, like between a professor and a student.  Or maybe in a working relationship like that of a master carpenter and his apprentice.  

Would you be surprised to know that many successful business people have claimed their success is due in part to the guidance of their business mentors?  Bill Gates, the wealthiest man in the world, has said publicly that his mentor is Warren Buffett.  Warren Buffett has often cited famous investor/professor/author Benjamin Graham as his mentor.

 So...who's your mentor?

 What's that, you don't have one and don't know where to find one? 

You need to get out there and pound the pavement.  Successful business people aren't going to just show up at your door in your time of need.  Find a trade association event in your business and start networking.  You can't find a mentor if you don't get out there and start making contact with the respected people in your field. 

It doesn't matter if your field is medicine or scrap booking, there is probably someone out there who has been doing it longer than you have, or more successfully than you have.  If you're in that small percentage where that is not the case, you can still find someone to mentor you on one segment of your business where you could use help.  Maybe you're great on marketing knowledge but horrible with sales calls.  Go and find a big dog salesperson to give you some pointers.  There's a mentor out there for everyone.

I've met several successful business owners who have several mentors.  In essence, they've created their own personal team of experts they can tap into at any time they need.  Again, you need to get out there and make contact with these people.  It may take awhile to round out your team, but when you do, you'll be a step above the rest.

For those just starting out, you should think about adding the following people to your team of respecting experts, or mentors:

1. Attorneys - Not only do they help with business formation paperwork, they are an invaluable resource of information for new business owners and can often refer you to other owners that are currently operating successful businesses.
2. Financial Advisors - A necessity in the business world.  CPA's keep your books straight, and along with financial advisors, help you plan for the future.  They work through payroll, taxes, and expenses, ensuring the doors stay open, and they can with insurance needs to keep your business safe during the tough times.
3. Business Broker - these specialized brokers know their fields inside and out.  They can tell you when companies are entering and leaving the market, they can tell you profitability of your competitors and they can be on the look out for opportunities to expand your business.
4. Staffing Professional - "Head hunters" are great people to know.  They have their hands in the pool of the top talent in the market.  They know when executives are ready to make a move and they can help steer those people right to your door.  Many top CEO's have said their company is all about the people who work there, and no one knows that better than a staffer.

Take time to network with your local chamber of commerce, or just attend events in your field.  After a short time you'll begin to see the same faces and you'll get to know the industry players well.  The cream always rises to the top, and that's where you want to find your mentor.