Everyone in business needs someone outside their own company that they can talk to in times of change. Having this “reflector” is crucial because diversified entrepreneurs are in a constantly changing environment where good decisions on multiple topics must be made.

This person can be a mentor, a friend, a consultant, a life coach, or a hired gun. I have someone in every one of these categories who is only a phone call or a lunch date away. They have helped me make millions, and I touch base with them as often as possible.

It is critical that “reflectors” are somewhat removed from the situation in question because it allows for a non-biased objective perspective.

I also find that people I pay for advice or help can be even more useful. I think this is because when I’m paying them, I don’t mind asking for things I need, whereas, when it’s a friend, I feel it’s unfair if I’m doing more asking than giving. There are no worries when I’m trading dollars for advice or for a sounding board; I am buying someone’s time and expertise.

I encourage you to seek council often, and to have an open mind when you do. If you go in with a big ego, ready to sell or to argue with your adviser on the wisdom of your decisions, what’s the point? These are interactions that need to focus on good questions and sharp ears that listen for the gems that always show up. It’s been in these conversations where some of my biggest money making ideas have made themselves known. They were in there, but it took a reflector to bring them out.