Best Business Advice From Successful Entrepreneurs!
When starting a business, there are dreams galore. Entrepreneurs think their startup idea might get as big as Facebook, Paypal, or Reddit, but that is not the case always. Instead of wallowing in pity and losing motivation, it is important to pick yourself up and listen to some of those people who have been there and done that! A few words of wisdom from successful people who have been where you are right now might actually help you go through the entire journey without a mentor or influencer and help you to kickstart your journey as an entrepreneur.
Here are some very valuable pieces of wisdom from some of the most successful entrepreneurs of the decade.
Follow Your Heart — Dennis Crowley, Foursquare
Dennis says, “Do what you love and the rest will come”. Though it might sound a bit cliched, Crowley has clearly benefitted from the advice his mother gave him – follow your heart. He found two companies before he turned 40 and even turned down a $125-million acquisition. It seems like he is not stopping at Dodgeball and Foursquare because now, he has developed another app called Swarm. When he looks back today, he can proudly say that he did follow his heart. He got ideas, made them into his projects, and from which products were developed that became a huge success.
The Fastest Route To Revenue Wins — Rick Alden, Skullcandy
Skullcandy CEO Rick Alden has some great advice for newbies. Most of the time, it happens that finding good ideas or ways to implement them are never an issue. Creative people are really good at all that. What is more important is to know how to make a profit out of that idea. He believes that you might have 10 great ideas, but if just one of them seems to have a market, you must shelve the rest of your nine ideas and concentrate on that one. It might not be the best in your list or your favorite but if it has a potential to generate income and bloom into a good business, this is the one for you! Alden picked up this great piece of wisdom from Guy Kawasaki’s The Art Of Start. How much revenue can you generate, how quickly, and at what margin – these are the most important questions to ask when you start a business.
Surround Yourself With Great Team And Build It Slowly – Sheila Johnson, Salamander Hotels And Resorts
This is very true. You can’t win the battle all by yourself. You need a team of people who are good at following your orders, but can operate during your absence, too. Most importantly, they are equally passionate about winning the battle. If this sounds familiar and you have a team like this, then you are sure to be here for a long time. Of course, it doesn’t come as a surprise that this piece of advice comes from Sheila Johnson who is the owner or partner of not one but three sports franchisee and also the owner of the Salamander group of hotels.
Stop Being Scared And Jump — Rehan Choudhry, Life Is Beautiful
This little nugget of advice comes from the person who threw away his lucrative job in the hospitality industry and went to find a festival in Vegas celebrating food, music, art – basically all the good things of life. It is called Life Is Beautiful. Hence, we are not surprised at all. Startup founders are risk takers, there is no doubt about that. Hence, if you can’t get the fears away from your mind, you can never take the plunge. Being passionate and fearless are the two qualities that Rehan feels is much needed in entrepreneurs. For those who are on the edge, there is no right time to take the leap. He feels this way of thinking has helped him do away with overthinking and helped him get more focused.
Truth is nothing is undoable! If you put your heart and mind in it and work hard, then you have the best chance to make it successful. It is also very important to be humane. Your kindness, compassion, love, and understanding for those who are around you will always help you. However cliched it might sound, these golden pieces of advice are still true as they were decades back!
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