What Is the Value of Learning from Others When Starting a Business?

The answer?  Priceless! 

There are many benefits to having the pleasure of working with a wide variety of people from around the country.  One such benefit is my continuous study in anthropology!  I always enjoy meeting, befriending, and learning what motivates others.  Everyone has a unique background, different experiences, and an array of mentalities.  In working with so many entrepreneurs over the years, I can assure you that not everyone values, uses, or appreciates learning from others the same way.  More specifically, many don’t even understand the importance of learning from experienced entrepreneurs.

Let me share with you two quick emails that I recently received.  I have deleted the last names and states so as to ensure anonymity:

“Joel, we appreciate your emails regarding your Boot Camp but me and my business partner are already in the process of starting our business.  We are in the process of purchasing two vehicles and are very excited.  We are trying to save money so I don’t think we will be able to come to your Boot Camp but maybe in the future we will be in attendance.  We look forward to being featured in one of your future videos.” – Rich

“Joel, I am a painting contractor of 22 years and as you are aware, the economy is not good.  I can’t afford to make any monetary mistakes.  I have not started my business as of yet, however, I am looking at prices on vehicles and the startup costs in my area.  I have read your book and watched your DVDs.  I am considering attending your Boot Camp Seminar in VA.  Do you think that your Camp would be beneficial for someone in my stage of business?”  – Thomas

Now, let me give everyone a quick disclaimer.  Anything I am about to say or illustrate is in no way intended to belittle anyone on a personal level.  But in the event that it does – get over it!  This is business and we’re talking about money.  And as Thomas says, “he’s in a position where he can’t afford to make a monetary mistake.  So political correctness is long since out the window because when it comes to making and playing with money, the stakes are high!

Here’s the deal.  Rich and Tom are relatively at the same place in their business development.  They’re both at the starting blocks.  But here’s where they differ.  Rich doesn’t see the need or value for further input, insight, or education from others who have already traveled the same path he is about to travel.  Tom, on the other hand, he outright asks!  He extends himself, reaches out to, and inquires into whether further knowledge in the form of my Boot Camp Seminar “would be beneficial.”

Now again, a disclaimer.  I am not saying that my Seminars are the end all of everyone’s success in the NEMT business.  But I have to be honest with you.  They’re a damn good start!  As I tell everyone, within the first few years of my business I conservatively wasted no less than a quarter of million dollars on mistakes!  Wouldn’t you want to learn from my mistakes?  I also made a lot of money and secured a number of contracts.  Wouldn’t you want to learn how I did all of this in record time?

But even more, I’ve worked with countless entrepreneurs from all over the country!  I continue to see what is and is not working for NEMT business owners in a wide range of areas.  I have helped business owners negotiate contracts, restructure contracts, propose contracts, walk away from “loser” contracts.  Wouldn’t a motivated entrepreneur want to learn from not only me, but also other successful NEMT business owners that will be in attendance at my Boot Camp Seminar?

Especially in today’s troubled economy and there are shifts and changes occurring in the our industry, what is the price of learning from like-minded entrepreneurs that figuratively have their finger on the pulse of the industry.  At a time when brokers are moving into and out of different areas quite frequently, what is the value in learning how to position your business and negotiate your rates?

Again, my intentions are not to belittle anyone’s mentality.  But learning from others seems to be too costly for Rich, yet Thomas is not only considering it, but outright asks!  People pay a lot of money on formal educations, yet a high majority of people don’t even pursue business or work in their field of study.  People take out insurance on their vehicles and property, but they don’t think to spend money on insuring their business strategy itself.

To answer Thomas and address Rich’s email, my question is “Can you afford not to attend?”  The economy is in the tank yet the demand for our industry is continuing to grow.  There are shifts in policies, regulations, and reimbursements – all the while, growing opportunities. 

Fact: The elderly population and medical industry are growing will not slow for decades.

Fact:  Transportation of all types and sources will always be in demand. 

Fact: There will be “newbies” in attendance and others that have been in business for years.  Some have a few vehicles, others have 100. 

So again, what is the price, the value of learning from others when starting a business?  Everyone has their own answer.  What’s yours?

Click Here to Reserve Your Seat and Learn from Others at the MDT Boot Camp Seminar