Entrepreneurs are among the best sources of great advice, but they were once on the receiving end of these words of wisdom.
In this article, these entrepreneurs share the best advice, which changed how they see things and made them think differently.
Let’s jump in.
If you’re a budding entrepreneur that’s scared to leap, most entrepreneurs advise you to follow Nike’s lead and Just Do It.
“You will gain more knowledge by trying and failing than by reading everything and doing nothing,” shares Adam Wood, co-founder of Revenue Geeks. He shares that he read over 200 business books before starting his firm but learned the most by making mistakes and learning on the job. Business books can only teach so much — experience ends up being the best teacher because each business’s situation is different.
As a business owner, you intuitively know what your business needs. That said, another great piece of advice is to trust your instincts. “My previous manager told me to trust my instincts because he said our sixth sense is never wrong,” shares David Northup, CEO of InShapeMD.
Jon Bennion, CEO of Online Marketing Gurus, agrees, “As entrepreneurs, we often have to make quick decisions with limited information. The only smart approach is to rely on our intuition.”
If there is one thing the last couple of years has taught everyone, change is the only constant in life. The most successful entrepreneurs learn how to ride the waves, else be left in the dust.
“Many entrepreneurs like to create a rigid plan which looks good on paper but fails when faced with the unexpected,” shares Rafal Mlodzki, CEO of Passport Photo Online. “When planning, make room for flexibility. The ability to reinvent is critical to success”, he adds.
Steve Pogson, the founder of First Pier, agrees. He shares that the best business advice he received was from a fellow entrepreneur who told him to always be up-to-date and change with the times. “He told me, ‘you can’t solve today’s challenges with yesterday’s thinking,’” says Pogson.
At the rate the world is changing, adapting is the only way to stay relevant. You don’t have to be the first to follow trends, but at the very least, you should be open to making changes when it’s appropriate for your business.
Another excellent piece of business advice is to listen to your customers while you still have the chance.
“People want to do business with you as long as they are complaining. When they stop complaining, that’s when you should be concerned”, shares Shad Elia of New England Home Buyers.
Customers who frequently give feedback should be treated like gems because they took the time to tell you what they think. It also means they see your business’ potential and want it to succeed.
Small business owners often have to take on many hats, especially when getting their business off the ground. Most entrepreneurs hold off from hiring employees because they don’t want to spend or think it’s more work to train people than actually do it themselves.
Sydney Addis, the owner of The Inspiration Agency, shares that the best business advice she received was to get help. “You can’t do it alone, and when you get help, it will never be exactly how you want it to be, but learning to accept this is what will make you grow,” she shares.
She advises business owners to start by hiring someone to do things they would rather not do. Handing off some of the work gives you double the workforce, allowing you to focus on more important things, like how to grow your business.
Before hiring people, check whether your business has aspects that you can automate.
While you’re at it, hire people more intelligent than you and listen to them. “I heard this advice at a business conference, and a few months later, I read it in ‘7 Habits Of Highly Effective People’ by Stephen Covey. I realized that accepting my fallibility is extremely important because I cannot be a specialist in every field”, shares Tomek Mlodzki, CEO & Co-founder at PhotoAiD.
Successful entrepreneurs share the best business advice they’ve received, which shaped how they do their business.
Whether the advice shared applies to you or not, be open to learning and growth from different sources — especially people who were once in your shoes.
Do you have any business advice you’d like to share? Tweet it @Bluehost.