What I’m Learning from My Students

After years in the trenches of entrepreneurial business ownership, I thought I had most of the answers. Then I stepped into the classroom to teach Entrepreneurship Through Acquisition. What I discovered surprised me: the students were teaching me as much as I was teaching them. 

Today, I'm sharing how this two-way exchange has revolutionized my approach to business.

Mapping New Markets

When a student in my ETA class presented an analysis of a private jet detailing business, I was skeptical. The business had solid fundamentals—recurring revenue, fragmented customer base, high margins—but I questioned whether the market was large enough to support meaningful growth.

The student challenged me with data I hadn't considered. He'd mapped the private aviation market in ways I hadn't seen before, showing how the concentration of wealth created pockets of extraordinary opportunity—even in seemingly niche markets.

His fresh perspective made me reconsider how I evaluate businesses in luxury markets—a blind spot I'd developed from years focusing on more traditional service industries. One conversation in, and I was already seeing business opportunities through new eyes because a student was willing to push back on my assumptions.

Our interaction was a reminder of what I’ve long known: the best teachers learn more from their students than students learn from them.

Get the Tools to Be My Next Teacher 

In my book, Grit It Done, I share the frameworks I've developed through years of buying, growing, and selling businesses. These are the same principles I teach in my ETA course—battle-tested approaches that work in the real world.

But as my teaching experience shows, frameworks evolve. The book captures my best thinking to date, while I continue learning from entrepreneurs like you every day.

The Epistemology of Entrepreneurship

The most valuable concept I've embraced recently is epistemology—the study of knowledge itself. It reminds us that what we "know" about business is constantly evolving.

Consider this: Many centuries ago, people were certain the earth was flat. This wasn't opinion—it was "fact." Until it wasn't.

The same principle applies to entrepreneurship. The "unbreakable rules" of business change every decade. What's considered impossible becomes standard practice.

That's why I approach teaching as facilitation rather than pure instruction. When I present foundational concepts—recurring revenue matters, customer concentration is risky, grit determines success more than talent—I always follow with: "How does that resonate with your experience? What might I be missing?"

Because sometimes, a student with fresh eyes will spot something obvious that I've become blind to after years operating a certain way.

Your Challenge

Whether you're a seasoned entrepreneur or just starting your journey, maintain what Zen Buddhists call "beginner's mind." Find opportunities to engage with different perspectives—mentor someone, join a peer group, or even teach what you know.

The moment you believe you have nothing left to learn is the moment your growth flatlines.

What unexpected lessons have you learned from those you were teaching? Join me on LinkedIn to continue the conversation.