Useful Tips for Entrepreneurs from Entrepreneurs

If you are jumping into the world of business as an entrepreneur, you can benefit from advice and guidance. Who better to seek this advice from, than serial entrepreneurs who have already gained success? In this article, we provide a range of useful tips from some of the most iconic businessmen and women you can find!

1. Always collect and use critical feedback

This statement comes from the iconic businessman and owner of Tesla and SpaceX, Elon Musk. The mighty Musk can attest to this first hand and over the years has had to listen to feedback regarding things like the SpaceX rocket launches.

If you ignore feedback from customers, business partners, or your friends and family, you will never learn or improve. Critical feedback in the long-term is beneficial and can help your business grow and improve. 

2. Trust in your own judgement and abilities

This simple sentiment comes from Mark Cuban. Cuban is a respected entrepreneur and owner of the Dallas Mavericks NBA basketball club. He has also founded and built up a range of other successful companies.

The ethos is simple. In most instances, your own judgement and abilities are sound. If you can trust yourself and your skills, how can you hope to be successful?

3. Your business should play to your strengths

Many new entrepreneurs make the mistake of creating a business they are not passionate about. The above statement from businessman Todd Connor (Founder of the Flank 5 Academy), shows just how dangerous this can be.

How can you become invested and care about a business that you have no interest in? You must play to your strengths and passions. For example, maybe you are an excellent writer but don’t have much graphic design skills. As a result, you could write your own content, but consider using a simple platform like LogoCreator to produce a business logo.

4. Don’t be afraid to pursue an idea that could change lives

Lastly, Steve Gottlieb, who founded the communications platform Shindig tells us that change is often met with resistance. This is true in the world of business where new technologies and new ways of thinking are often met with hostility or indifference. The key is to persevere and continue with your idea - eventually, change will happen!

There is no harm in seeking advice. Everyone has to start somewhere. We are not born with knowledge, skills, and Richard Branson uttered a similar statement to the above. He is best known for founding the global media company Virgin and a host of other subsidiary companies such as Virgin Atlantic. More recently, he is known for being the first non-astronaut to enter space!

He essentially believes that if you have an idea - any idea that could make a positive impact in the world, you should pursue it! What better advice could you get than that?

5. Don’t be afraid of taking risks

Founder of the National Education Initiative, Devin Schain provides the above advice. Risk-taking is usually steered away from as the results can be horrendous. After all, it’s a risk - why would you take it!

However, in the world of business, risks often pay off and are essential to growth and development. If you believe in something and have calculated the various fallouts, the risk is often worth it!

6. Change is often slow to happen

These are things we have to learn and build over time. So what better way to start your business venture than to learn from entrepreneurs who have succeeded and know what it takes to reach the top?

-Joy West