LEADERSHIP DEVELOPMENT founded an organization that ’ s designed to help adults find the wisdom that leads them through their midlife era , reminding them that no goals are too lofty . In my most recent entrepreneurial journey to start Modern Elder Academy , my entire understanding of the world of mentoring and coaching others has shifted for the better .
THE VALUE OF JOURNEY SHARING
Every entrepreneur is intimately familiar with failure . We ’ ve all bombed board meetings , forgotten important pitch materials , or taken a chance on something that didn ’ t pan out . Our willingness to keep moving through those failures is what ultimately turns us into successful entrepreneurs or jobless couch surfers . Now that I ’ m one of the “ elder ” entrepreneurs , nothing brings me more joy than sharing some of my biggest failures with other go-getters who feel like they ’ re failing .
Whether you ’ ve recently sold your business or still involved in business , sharing your journey and experiences — both successes and failures — is incredibly valuable to others .
Here are the best returns I get from mentoring others :
A PUSH TO MAKE SENSE OF IT ALL
You ’ ve probably heard the saying , “ The best teachers are great learners .” For me , that idea comes up time and time again in coaching others . When sharing my experiences with other entrepreneurs , I ’ m forced to make sense of them in a different way than I do when I ’ m just thinking about them . In order to impart wisdom and learnings from all I ’ ve gone through , I have to process it in a new way . Coaching helps me do that .
KARMIC CAPITALISM
What comes around goes around , and since so many generous people helped me on my entrepreneurial journey , it only makes sense that I pass that generosity along . Mentoring and coaching takes time , but the returns you get from coaching others are invaluable . It ’ s one of the single most important aspects of my career today .
THOUGHT LEADERSHIP DEVELOPMENT
The best of the best in any industry are considered thought leaders . Do you know how they get started on that path ? By sharing their ideas ! Coaching provides the space to mull over ideas , craft them in a way that makes sense to others , and get your message across effectively . ( Talk about foundational entrepreneurial skills !)
WE ’ RE ALL A W-I-P
The hardest part of any entrepreneurial journey is how lonely it can feel . Whether an entrepreneur is standing up a venture with a team or all on their own , getting people to see their vision , take a chance on their plan , and support the leap they ’ re making can feel impossible . Every entrepreneur knows the feelings of rejection , isolation , and fear all too well , but they wouldn ’ t be entrepreneurs if they didn ’ t keep going , right ?
Those painful life lessons are the raw materials for our future wisdom , but sharing those lessons with younger professionals may help accelerate their wisdom development . When we share the experiences of being an entrepreneur , things feel a lot less lonely and overwhelming for those receiving our message .
No one is perfect ; the biggest IPO of the year or the newest product that ’ s taking center stage is never without struggle . If entrepreneurs can get more comfortable with the fact that we ’ re all a work-inprogress ( W-I-P )— just like our ventures — we can make the journey a bit more enjoyable .
WISDOM AS A MODERN ELDER
If you were to ask me whether I ’ d have a lot to learn from someone younger than me , my answer would be a resounding “ Yes !” I learn things daily from interns , new hires , custodial staff , young managers , and new entrepreneurs . However , I think the real opportunity is that younger entrepreneurs will always be able to learn a lot more from us older entrepreneurs who have been around the block a time or two . I feel it ’ s our duty to help and coach the next generation in order to ensure a robust and thriving entrepreneurial community .
FEEL GOOD FOR ALL
At the end of the day , being a coach or a mentor simply feels great ! Connecting with people brings a sense of camaraderie , suddenly things feel less lonely for those you coach , you will end up changing lives , and sometimes you even meet people who are going to change your life . Give guidance , share your experiences , do it as a formal coaching engagement or an informal mentoring relationship . However you ’ re approaching helping others , just get into it . When you have your first big win , you ’ ll look back and realize that you are making a difference , and you can feel satisfied , knowing that you had a part in the success of those you coached . +
Successful hospitality entrepreneur and bestselling author Chip Conley is on a mission to reframe our relationship with aging . As the founder of MEA , the world ' s first midlife wisdom school with regenerative communities , Conley is disrupting both the idea of higher education and senior living . He has both a BA and MBA from Stanford University and an Honorary PhD in Psychology from Saybrook University . He ’ s been a TED speaker at the prestigious annual conference multiple times .
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