How Entrepreneurs Learn Through Honest Feedback

I want to share with you some things we have learned in running the 1Mby1M program since 2008. Over 700 free mentoring roundtables. Over 300k entrepreneurs have participated.

It is extremely difficult to give negative feedback to entrepreneurs without triggering a defensive reaction. I was not good at this when we started.

I am very good at analyzing a business scenario, but I was never good at sugar coating the feedback in a way that is particularly nurturing or reassuring. 

Very early on in our experiments with online mentoring, we told entrepreneurs that this forum is for candid, constructive feedback, and that may include negative feedback. 

We don’t tell entrepreneurs what they WANT to hear. 

We tell them what they NEED to hear. 

While some egos get bruised, entrepreneurs have more or less accepted our approach, and have given us permission to ‘critique’ their ventures. 

I have, personally, gotten better at giving feedback in a palatable way. 

The biggest thing that has worked well is that we never, ever give negative input gratuitously. Everything has been in the spirit of helping both the entrepreneurs and the businesses grow. 

Nonetheless, if through this process I have offended you or hurt your feelings, let me take this opportunity to apologize. It was not my intent.

At the end of the day, I believe, intellectual honesty matters. I also observe that the ecosystem is inherently dishonest, and mentors, advisors, incubators, media all promise entrepreneurs things that cannot be delivered. 

We have tried to make 1Mby1M a pragmatic, realistic, intellectually honest community – a place where primarily, entrepreneurs can learn. We do not promise the moon. But sometimes, we encounter entrepreneurs who join the program with expectations that cannot be met. To them, our sincere apologies. Since we do not have a screening process, we let everybody in. 

Equal opportunity, however, doesn’t mean equal outcome.

If you need help, join 1Mby1M Premium. It would be my pleasure to guide you. And you can get started with my Digital Mind AI Mentor right now. Tell me, where do you need help?