AmiSight 8/15: The Challenge of Coaching and Keeping Your Biases Out of It
I believe I owe some entrepreneurs I was trying to help a few weeks ago an apology. They are two partners who have built a business with significant growth possibilities and require an infusion of capital to make them happen.
I should have objectively discussed the pros and cons of an equity investor versus taking on debt and left them with the tools to make their own decisions. But instead, I brought my biases to the table and encouraged them to use debt.
The same entrepreneurs were in a group I was working with the next day, and they each took a risk tolerance test. Unfortunately, both of their scores came out as Risk Adverse !! Shame on me. I was trying to push them right out of their comfort zone.
It's super important to leave your own biases off the table when trying to mentor and be helpful!!