Entrepreneurship is hard.
Let’s call it what it is.
And to become a healthcare entrepreneur is even more difficult.
It’s not a ride in the park or a “going to see a movie and have fun” type of thing.
It requires a lot of sacrifice, determination, discipline, failures and a whole lot of learning.
And herein lies why many folks who subscribe to become entrepreneurs end up, by the wayside, going back or just giving up entirely.
The general principles of entrepreneurship also apply to healthcare entrepreneurship.
In this short article, I will share a vital lesson I am learning as a healthcare leader, entrepreneur, and innovator.
People Are Resources
In life, we need people.
All sorts of people.
Good.
Bad.
And the ugly ones.
And they all have very unique roles to play in our lives.
In the entrepreneurial journey, you need three important figures that pose as pillars.
If you’re lucky to have all three, your chances of surviving as an entrepreneur are very high.
But before we forge ahead, I would love to tell you about our Guest Author and Contributor programme, which allows healthcare leaders, entrepreneurs, innovators, specialists, experts, and professionals to share their ideas, knowledge, experience, and expertise, grow their network, and connect with more people.
It’s a new programme, and we are working hard to build it into a large community of healthcare leaders, innovators, and entrepreneurs sharing ideas, connecting, building networks and bringing their goals and dreams to life.
We published the latest article some days back. You can read it here.
If you feel you should be part of what we’re building, you can learn more about it here. Or reach me on LinkedIn. I can’t wait to connect with you and start building with you.
So, let’s continue where we left off.
Three Pillar Figures
These three figures are your guiding lights, pillars and support in your entrepreneurial journey.
Healthcare entrepreneurs who want to increase their odds of survival need to have them in their journey and thoroughly understand their purpose and, most importantly, how to recognise them.
A Coach.
A Mentor.
A Sponsor.
I started learning this recently and am so happy to share it with you today.
When we started our entrepreneurial journey, we didn’t know anything.
We felt it was just about having a good idea.
Well, as we progressed and started building, we began to discover that it was way more than just having an idea. There was more.
I can’t count the number of times I have entertained the idea of giving up and just leading a normal life.
I wish I had been exposed early to some things I know today.
Well, it’s not too late, and somehow, I am learning from the mistakes and missteps I made when I first started.
Who Is A Coach?
The coach is someone who has been where you are aspiring to be and has succeeded.
Coaches have conquered the giants you want to destroy!
They walk with and by your side and offer their wisdom and support.
The coach knows all the mistakes, traps, pitfalls and failures on the way.
So, their presence with you should make you less likely to fail.
Your coach walks and works with you daily.
They stand by your side, holding your hands and leading your legs.
Your coach can read and analyse you and know when your motivation is low or when you are about to get into trouble.
They are that close to you.
You need them very close to you. If you haven’t got one, I strongly advise you to get one.
There aren’t many healthcare leadership and entrepreneurship coaches available, and the few that exist are expensive, especially for starting entrepreneurs.
But there are alternatives.
In the next article, I will be talking about alternatives.
How you can reap the benefit of a coach without having to pay for one.
Who Is A Mentor?
A mentor has also been where you’re trying to go. They have won the battles you’re trying to fight and have trophies to show for it.
However, they don’t have the time to see you every day.
They’re not there to look over your shoulder and yell at you when you’re doing it wrong or about to fall into a trap. That’s the work of the coach.
Mentors are far away.
Mentors are busy.
They don’t have the time to babysit you.
What they can do is help you make very important decisions, guide you through tough times, and share wisdom with you when you need it most!
Your mentor should know you personally, not through their books or newsletters. They should have a personal relationship with you. They know what you’re working on and details about your life and work.
You might only be able to talk personally with your mentor once in three or four months.
I have benefitted from various forms and mentorship styles, both direct and indirect.
If you want to survive in the world of healthcare entrepreneurship, you need to get a mentor.
“A Mentor serves as more than just a guide; they are the architects of your strategic vision.”
A mentor may be far away from you, but they are sometimes the closest because they are the ones who, through their experience, connections, and resources, are able to create your unique path.
And this takes us to the next pillar.
Who Is A Sponsor?
A sponsor goes steps ahead and is ready to vouch for you, put their heads on the line for you and tell others about you.
Now, that’s some serious relationship there!
Your sponsor knows you so well that they will refer people to you because they know what you can do. This means a sponsor is like a mentor who has come to trust you to the extent that they are willing to invest their credibility for you and, most times, their “relationship resources” in you.
Sponsors can walk in places you might never walk in at your level, talk with people you would never be able to talk to at your level and handle things and resources that you will never be able to handle at your level. And as they are there in high places, they are ready to speak for you, recommend you, and send projects and deals your way.
As I said earlier, sponsors must know and trust your ability to be willing to support you.
Read Also
How Passionate Are You About The Life You’re Living?
Learn To Differentiate
Now, the ability to recognise this set of people in your life is another skill you must master.
Most entrepreneurs don’t know how to differentiate their roles. They see a coach and call them mentors.
They see mentors and think they are sponsors.
Not all mentors will become your sponsors.
Most of the time, it takes intentional efforts to build a mentorship relationship into a sponsorship one.
And most entrepreneurs suffer from the syndrome of “overfamiliarity.”
More on this in a future article.
What Healthcare Entrepreneurs Need To Put Into Consideration
If you are just starting out as a healthcare entrepreneur, you might not need a sponsor. What you might need is a coach and a mentor.
Sponsors usually emerge from mentorship relationships because sponsors must know you to the extent that they are willing to vouch for you.
As an entrepreneur, one of your superpowers is to know how to nurture productive relationships.
If you think people don’t matter to you and are not useful, then I assure you that you will grow old in one spot and not make any meaningful impact.
So, ask yourself that crucial question.
Who do I need at this point in my entrepreneurial journey? Who?
Don’t get stuck in the bog of pride or feel you can figure it all out by yourself. You can’t. You just can’t. It’s not possible.
So, sit down and think thoroughly about the kind of people you need in your journey.
In the next article, I will write about:
- How do you recognise your coach, mentor, and sponsor?
- Dealing with “overfamiliarity syndrome” in entrepreneurship.
- How can starting entrepreneurs enjoy coaching benefits without actually having to secure the services of a coach?
You don’t want to miss it.
Join our mailing list to get the article the second we publish it.
We’re compiling an extensive catalogue to feature healthcare coaches, mentors, and sponsors.
If you’re a healthcare coach, mentor, or sponsor and would like to feature your services or make yourself available to mentor young healthcare leaders, entrepreneurs, and innovators, you can email us at in**@ca************.com with your name and social links/website.
We will contact you once we receive the details.
Catch you next week on Monday.
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