Founders: Admit What You Don’t Know

The challenge with starting a business is that many people are good at their chosen field but know nothing about building and scaling a business. For example, I recently met a doctor who is starting a mobile medicine business. He is great at healthcare, but doesn't know the first thing about business structure, marketing, sales, accounting, etc. We see this often with start-ups as well - the founders come from a place of expertise but have no idea how to monetize it, build a business, grow a culture, manage people, scale, etc.

This is why a business coach, Board, and or consultant with proven ability to start and grow businesses (not just talk about it) are so important. Seek mentors, build a team of people who bring expertise to the table that you don't have. That often starts with looking at what you're NOT good at and admitting it - something a lot of founders struggle with.

No matter how much we know, there’s always more to learn. Admit to yourself what you don’t know, and build a team that can fill in the gaps.