I like to ask other entrepreneurs questions. One that has popped up from time to time is: “What is one lesson you would tell a starting entrepreneur?” The answers are spread far and wide, so I have compiled this advice from entrepreneurs and if you heed these, you are sure to have success.
I suggest you save these and refer to them often.
Advice From Entrepreneurs Lesson #1: Flow With The Go
You may have heard go with the flow meaning that you should follow the way things are done. I typed this backwards in that, you don’t follow the crowd necessarily, you flow with the detours, roadblocks, and failures.
They will come, but if you can flow with them and not allow them to win, you have the right mindset.
Advice From Entrepreneurs Lesson #2: Time Is Your Most Valuable Asset
Managing your time correctly is ultra important.
If you lose money or material items, you can always get those back; you can never get time back if you lose it.
Consider the tasks you are doing daily. Are they bringing in revenues? If not, you should consider outsourcing or delegating those tasks.
Advice From Entrepreneurs Lesson #3: Utilize Mentors And Advisers
It helps to have more than 1 brain on the business. Just having another person giving their input can pull ideas from the crevices of your mind.
Take advantage of every adviser you can attain. And if you do not have a mentor, actively seek one.
Advice from Entrepreneurs Lesson #4: Keep Learning About The Business Accounting Aspect
Many a business has failed because the entrepreneur did not budget correctly (if at all!). It is imperative that you keep abreast of everything relating to the cash flow in your business.
You want to create a monthly budget and follow it. I also suggest reviewing that budget each month.
I do suggest taking classes and courses. You can never learn enough about the financial side of a business. Maybe you are good with your personal finances, but keep in mind that business accounting is much different than personal.
I struggled with budgeting early on in my entrepreneur career. Noticing there was not many tools to help entrepreneurs budget, I SOLVED the problem. Not only do entrepreneurs love this tool, people who are budgeting their family and lifestyle find this tool helpful too.
You can even try it for 7 days and see what The Expense Tracker can do to help you save money (and time). Just give a click and see.
Advice From Entrepreneurs Lesson #5: Keep Learning Marketing Techniques
Marketing is an ever-changing creature. You must keep up with marketing trends and strategies to keep pace with the competition. Learn, test and win at your marketing efforts. You want to know all you can about:
- Content marketing
- Email marketing
- Paid advertising
Advice From Entrepreneurs Lesson #6: Follow Your Instincts
By all means, listen to your advisers and mentors, but FOLLOW your instincts. If your gut is saying yes and others are saying no, it is best to go with your instincts.
It may not work out, but you would kick yourself if you didn’t try.
Advice From Entrepreneurs Lesson #7: Mistakes And Failures Are New Opportunities
As entrepreneurs, our objective is to discover problems and solve them. So when a mistake or failure occurs, you now have a problem to solve.
So embrace mistakes and realize they have now created a new opportunity.
Advice From Entrepreneurs Lesson #8: Your Personal Brand Is AS, or even of MORE Importance Than Your Company Brand
You want to build your personal brand in a strong manner. If your company brand succeeds or fails, your personal brand will always drive you further.
Your personal brand shows your expertise in that particular field. It will differentiate you from the competitors.
Who better to learn from then experienced entrepreneurs who have already experienced these lessons? Learn and grow and you WILL take your entrepreneur journey…