What is the best business advice you've ever received?

[smsmamster]

The best advice I got was about 6 years ago. I was told that, " You have to learn from your mistakes, which inherently means you are going to make mistakes. Just don't keep making the same mistakes over and over again."

Believe me since then I have made plenty of mistakes, but I always look to see what I can learn from them.

Cheers!
Robert

[Scunizzo]

Last week I asked you what the best business advice was that you ever received and you responded!

So far the top results are:

“You cannot always stick around to see the results.”

“Don’t get caught up in making the best decision up front. Make a decision and make that decision the best.”

“Solve important customer problems. If you do that everything else follows.”

“A good many studies of research scientists have shown that achievement (at least below the genius level of an Einstein) depends less on ability in doing research than on the courage to go after opportunity. .. It is more productive to convert an opportunity into results than to solve a problem- which only restores that equilibrium of yesterday.”

“There are two things I try and do in business: 1. I never try to beat any body. I only try and beat myself. 2. I try and do my job better today than I did it yesterday.”

“Ethics first, then profit. And… throw away your junk mail or you’ll waste precious time on the most unproductive activity in the world.”

“Our subconscious minds responsibility is to keep us healthy correct? Keep the heart beating, muscles working, body healing, and all of that stuff. Well when I set up a goal or an affirmation I then back track it to preservation of the body. When you can link whatever desire you have to, how will this preserve my body and keep me healthy? This carries much more weight than, I want a million dollars, or a new car, or house.”

“Choose your battles!”

“Market yourself in busy and slow times. (That includes today’s sluggish economy.)”

“If God brings you to it, God will bring you through it.”

“Any fool can make things bigger, more complex, and more violent. It takes a touch of genius - and a lot of courage - to move in the opposite direction.”

“Anyone who has never made a mistake has never tried anything new.”

“Don’t put all your eggs in one friggin’ basket.”

“Do atleast 1 thing towards your success each day!”

“JUST DO IT!”

“Do not trust anyone. Everything in business is business, never let it get personal.”

“If you can conceive it and believe it, you can achieve it.”

“Keep costs as low as possible and focus on getting revenues as high as possible. Don’t be wastefull and track EVERYTHING!”

“You must take the challenge whether you succeed or not - the most important thing is –at least you tried.”

“Never ever give up”

“You have to learn from your mistakes, which inherently means you are going to make mistakes. Just don’t keep making the same mistakes over and over again.”

Thank you for the great advice so far! We still have another week left in the poll before I put together the final results and sort them by category. Do you have words of wisdom to share? What is the best piece of business advice that you have ever received?

Cast your vote today by commenting below or by visiting our blog post here.

[Warranties-For-Less]

Good topic,

The best advice I ever got was during the last recession. And since we are going through an even worse recession this time around, the advice should be valuable to everyone with a traditional or online business, as it applies to all businesses. When you are faced with a recession, don't cut back advertising like most do, but double it. Nothing will get you through a recession more than good cost effective advertising. While your competition cuts back, here is your opportunity to step up and take away business from your competition.

Success to all, Mike

[SmarterGroup]

Trust no one - Encounters of an Entrepreneur

[jodamanx]

Think Long Term - Automation

[BicVentures]

The best advice I have been given was to "Keep Your Day Job."

I am convinced that the key to success for the 99.9% of us who have wanted to start a business but did't have the stomach (or savings) to quit a good job to commit full time is to find something you can do on a part-time basis. If you can wait for your part-time income to meet then exceed your full-time income before taking the leap and committing to your new business you will be that much more likely to succeed your first time around. It worked for us at Cornerstone Productions. We applied the same thought process when launching our next businesses, ensuring that the primary business (Cornerstone Productions) could support our "needs" while getting involved in other businesses with enormous potential.

[byrneof]

You have two eyes, two ears and only one mouth for a reason so shut up and look and listen.

[dcfauno]

Don't put all your eggs in one basket.

Learned this one from the school of hard knocks!

[KohJack]

The early bird gets the worm, but the second rat gets the cheese.

Meaning... the first rat gets killed in the rat trap and the second rat gets the cheese.

Essentially meaning that you don't have to be the first company to do something, you just have to learn from the first company's mistakes and do a better job.

Prime example Myspace.com copied Friendster learned from their mistakes and the rest is history.

[David in Wyoming]

Hello All,

All of the posts above are great suggestions. I too was told not to worry about my competition. I always try to outdo myself and make anything that I have used better if I do it.

Keep up the good work

D

[Scunizzo]

Thank you everyone for your feedback! The results are posted now at:

YoungEntrepreneur.com Blog » What is the best business advice you’ve ever received? - Entrepreneur Poll Results

[David in Wyoming]

Hello,

It is good for all of us to recall these pithy points in out life and recenter ourselves.

Just a though, have you looked at bob Parsone 16 rules of life, at godaddy.com, I have always enjoyed them

D

[NoShoesNoService]

" If it sounds to good to be true, it is"

[David in Wyoming]

" If it sounds to good to be true, it is"

If I may -- that advise can be a 2 edged sword and very limiting in you business and life. After all there was a time when an electric light bulb sounded to good to be true. Fortunately Thomas Edison did not believe it.

Just my 2 cents

D

[NoShoesNoService]

Thats why Im not successful.
lol
I'll go with the simple one
" Never give up"