Iron Sharpeneth Iron

Recently, I was able to spend some time in Park City with a number of other accounting firm owners. As I reflected on my time there, I kept thinking of the scripture “Iron sharpeneth iron; so a man sharpeneth the countenance of his friend,” and how valuable these relationships are. If you do not have a group of friends supporting you on your business journey, I would highly encourage you to find one. As you build out the friendship and the trust grows these people will be your biggest asset in growing your business. They will challenge you in areas you didn’t know you needed to be challenged, call you out on the stupid things you are doing, cause you to question things you were sure of, help you work through challenging problems and best of all, support you when the going gets rough. Here are some ways that iron sharpeneth iron can benefit you:


The Power of Collaboration

In the professional realm, the concept of iron sharpening iron can be likened to the benefit that comes from effective teamwork and collaboration. When individuals with diverse skills and perspectives come together, they can challenge each other to think differently, push boundaries, and innovate. This collaborative environment encourages individuals to refine their ideas and skills, leading to enhanced outcomes that surpass what could be achieved in isolation. Companies and organizations that cultivate such an environment not only accelerate their growth but also foster a culture of learning and adaptability.

Mentorship and Personal Development

Mentorship is another arena where the "iron sharpens iron" principle shines brightly. A mentor, with their wealth of experience and knowledge, can guide a mentee through challenges, offering insights that provoke thought and encourage growth. This relationship, however, is not one-sided. Mentees can offer fresh perspectives and ideas that challenge their mentors to rethink established norms and stay connected with evolving trends. This reciprocal exchange enriches both parties, fostering an environment of continuous personal and professional development.

Overcoming Challenges Together

The journey of mutual growth is not without its challenges. It requires openness to feedback, humility to acknowledge one's areas for improvement, and the resilience to persevere through the discomfort of growth. It also necessitates a commitment to the well-being and development of others, sometimes putting their needs and growth ahead of one's immediate interests. However, the rewards of such an approach—deeper connections, accelerated growth, and the fulfillment that comes from empowering others—are immeasurable.


The principle of "iron sharpeneth iron" serves as a powerful reminder of the value of building your community in personal growth, professional development, and community resilience. If you haven’t yet found a group of entrepreneurs to support you on your journey and sharpen you, I highly encourage you to do so. Some great places to start are industry conferences, your local Chamber of Commerce get-togethers, entrepreneurial operator groups, and just asking other business owners. Together, we can sharpen each other, forging a path that leads to greater achievements and a deeper sense of fulfillment.

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Beyond Tax Minimization: Embracing Wealth Maximization as the True Financial North Star for Businesses