Advisor Whiplash

Ask 10 people for advice on your idea

and you’ll get 10 different prescriptions.

Which one do you follow?

I see this all the time at some of the world’s top accelerators

where the problem is even further exacerbated because

these teams have access to lots of recently successful entrepreneurs.

These seasoned entrepreneurs are paying it forward

by volunteering their time.

A commendable gesture

but one that often leaves the startups more confused.

When faced with conflicting advice

which one is the entrepreneur supposed to follow:

The one that comes from the mentor who made the most money,

or the one that makes the most sense?

UNCERTAINTY + CONFLICTING ADVICE = CHAOS

Recent success does not necessarily correlate with giving good advice.

You can be a great entrepreneur but not a great teacher.

Tiger Woods is a better player than his coach,

but his coach is a better teacher.

In my view, the advisor’s job is NOT to give solutions

but rather ask the right questions

using the Socratic method.

It is not about giving prescriptions,

but rather an honest diagnosis on top risks.

It is the entrepreneurs job then

to prioritize these risks and

test them through small, fast, additive experiments.

It is also the entrepreneur’s job

to double down on the best advice (and advisors)

and ignore the rest.