There’s no such thing as a “self-made” business owner. The mere notion of the self-made man — someone who came from nothing, had a big idea, exploited it entirely on his own, and now has it all — is mostly an American myth. Sure, successful entrepreneurs and business owners are smart, opportunistic, perceptive, and adept at assimilating information. Yet in advising a number of them for over 40 years, and having been an entrepreneur myself for just as long, I can confidently say that none succeeded on their own. All, instead, had “MBAs” — mentors, believers, and advocates.  So if you’re about to strike out on your own, know that you’ll need MBAs, too. Here’s why. Mentors I owe at least 80 percent [...]

There’s no such thing as a “self-made” business owner. The mere notion of the self-made man — someone who came from nothing, had a big idea, exploited it entirely on his own, and now has it all — is mostly an American myth. Sure, successful entrepreneurs and business owners are smart, opportunistic, perceptive, and adept at assimilating information. Yet in advising a number of them for over 40 years, and having been an entrepreneur myself for just as long, I can confidently say that none succeeded on their own. All, instead, had “MBAs” — mentors, believers, and advocates.  So if you’re about to strike out on your own, know that you’ll need MBAs, too. Here’s why. Mentors I owe at least 80 percent [...]