Join the Chart Your Path Newsletter

How will you start or build your business?

Do you have an idea and you want to turn it into business?

Or are you running a business and want to go further on the path?

Well, how will you do this?

Generally, you have three potential options

  • Do it yourself 
  • Do it with others 
  • Do it with a mentor 

Let us examine each option

1.  Do it yourself (DIY)

With DIY, you are only counting on yourself. 

Advantages

  • Free, just Google it!
  • You do whatever you want or don’t want to do
  • Learn from anyone, anywhere, anytime at your pace and decide what to do  
  • Adapt what you learn for what you believe will work for you
  • You will feel great when you get results 

Disadvantages

  • Free, means you have to pay with countless hours. What is your time worth to you?
  • Zero accountability. How often have you failed to do, what you want to do? 
  • Learning from so many different sources, brings more confusion and contradictions that can damage your business 
  • Sometimes, you are holding your business and you won’t realise it on your own 
  • Lack of external perspective on your business
  • The extent to which you can adapt and apply, varies widely from one entrepreneur to the next
  • Change is difficult. It is easier to stay where you are, than make the required changes 
  • Lack of step by step guidance means that you may be missing crucial elements to your success
  • It can take years to make progress, not guaranteed though
  • Lots of trial and error means that you will pay school fees along the way, that could be a financial disaster 

2.  Do it with others 

Doing it with others, means you are counting on yourself. plus others that are working or supporting you. It includes partners, shareholders, family, friends and other entrepreneurs

Advantages

  • Free 
  • You are held accountable by others for  whatever you want or don’t want to do
  • Learn from others that you trust at your pace and decide what to do  
  • Adapt what you learn for what you believe will work for you
  • You and others will feel great when you get results 
  • You don’t take the full risk, others may take it with you

Disadvantages

  • Free, until you start succeeding and others have expectations that you “owe” them
  • You and others have to pay with countless hours. What is your or their time worth?
  • Zero accountability. Despite others trying to hold you accountable, how often have you failed to do, what you want to do? 
  • Learning from others can be limited, where they lack relevant business knowledge, experience and skills. It could create conflict or damage your business 
  • Sometimes, you and others with you are holding the business back and none of you  realise it. 
  • Lack of external perspective on your business
  • The extent to which you and others can adapt and apply, varies widely from one entrepreneur to the next
  • Change is difficult. It is easier to stay where you are, than make the required changes. Others may reinforce it, especially where they are taking risks too. 
  • Lack of step by step guidance means that you and them may be missing crucial elements to your success
  • It can take years to make progress, not guaranteed though. You may lose the support of others, that lack your passion or lose faith in you.
  • Lots of trial and error means that you and them will pay school fees along the way, that could be a financial disaster 

3.  Do it with a business mentor

Advantages

  • Maximise the value of your time by focusing on what matters the most
  • High accountability, working with a mentor means that you will get a lot more done  
  • Learning from a mentor brings more clarity and perspective, while leaving the final decision to you.
  • A mentor will challenge you, even if you are holding your business and don’t  realise
  • Mentor makes it easier for you to 
  • The extent to which you can adapt and apply, varies widely from one entrepreneur to the next
  • Change is difficult. It is easier to stay where you are, than make the required changes 
  • Mentor can guide you, step by step, making it easier to change over time 
  • Mentor can accelerate your progress, achieve in months what can take years 
  • Mentor can guide you, reducing the trial and error, and avoiding a financial disaster 

Disadvantages

  • Mentor may charge a fee for their service that you can’t afford
  • If you don’t select a suitable mentor that you are comfortable to work with, it is difficult to make progress

Powerful Execution

Starting a business comes with never ending obstacles on the path. For example, has this ever happened in your business:  You are passionate, ethical and competent. You are working hard.

Read More »
emotions, adventure, vacations

Financial freedom

What does financial freedom mean for an entrepreneur? From experience working with entrepreneurs, they often mention having lots and lots of money, never having to work again (unless they want

Read More »
road, coast, cliff

Making a difference

We live in a country that is globally seen fairly, having an advanced economy on the continent, and well ahead of our regional neighbors. We live in a country that

Read More »
inequality, poverty, homeless

Unemployment Crisis

Generally, hitting new highs is always great news. Except when it comes to unemployment in South Africa.  We keep reaching new record levels of unemployment, with no end in sight.

Read More »
heart, love, sunset

Love and Work

Do you love the work you do? Or does it feel like a slog, an endless grind that you go through day after day? Are you absolutely in love with

Read More »

Share:

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Scroll to Top
Skip to content