Sharing Daily Discoveries About Personal Finance And Business Topics

Helping People Becoming Entrepreneurs In Your Industry or Not

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I was thinking about this scenario recently where there was an entrepreneur who seemed pretty active in trying to help people answer questions they had about products related to the business field he was in. He didn’t charge people but at the same time by volunteering to do this he became the go to guy in the community’s mind as the expert and professional they should go to if they need to say hire someone.

Here was the interesting part. Someone then asked him how they could someday be just like him and start their own similar business. For example, what are the first steps people should do? Interestingly enough he completely ignores those types of questions. It essentially felt like he didn’t want the possibility of nurturing a future competitor and so better play it safe and don’t help anyone in that sense to try and remain as the only guy for as long as possible. What would you do in that scenario as the entrepreneur?

In one end it makes perfect sense business wise to do what’s best to maintain market share. On the other hand being afraid of competition to the point where you aren’t willing to help like say the youth of the future to me makes the person feel a little insincere in terms of being say a community guy. Essentially it is more about plain business where helping others is just a strategy as oppose to being genuine.

I think at times though it is important to remember that one day you won’t be able to do whatever it is that you are doing now and so helping the future generation in some ways is a social responsibility. At the same time, generally speaking just because you don’t need the help and support of specific people now doesn’t mean you may not need it later down the road. Imagine if overall you were remembered as that guy that was all for themselves.

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