The rate of business failure remains high these days. It’s not easy to start or grow a business in this recovering economy. The right advice from entrepreneurs who have done what you are working on can be the difference between success and failure. Here is advice from 14 successful entrepreneurs to help your business thrive.
1. “Seek out a mentor, don’t be discouraged by slow growth, and have a plan.” Adam Davis.
2. “Work with a mentor. Surround yourself with others who can support you on your journey to entrepreneurship. Get clear about how to manage your money when you are not getting a weekly paycheck.” Nancy Sinclair Brook
3. “Focus on these key areas: 1. Who is my ideal customer and where do they hang out online? 2. What are their wants and pains and what product or service can I create to help them. 3. Build your email list so you can foster relationships and offer those products and services to them in a more focused way than social media.” Jon Schumacher
Don’t neglect the rest of your life.
4. “As you’re building your new business, it can be so easy to neglect the other (important) aspects of your life. Don’t just create a formal business plan (unless you want investors), but create a useable life and business plan. Take the time to identify your core values, priorities, goals, and action plan for your life and business. It’s absolutely possible to have a successful business and live a life you love!” Kelly Thorne Gore
5. “Only sell things you’d be cool selling to your grandma!” Jason Moffatt
6. “Don’t neglect your marriage and family relationships! As Zig Zigler said, ‘You can’t consider yourself a success in the biz if your home life is in shambles!” Susie Miller
7. “Do the inner work first. Believe that it is possible and start from there!” Isabelle Rizzo
Beware the noise.
8. “Too many entrepreneurs think that since the barrier to building a business is the lowest it’s ever been and that it’s also easy to be successful. The reality is that it IS easier than ever to bootstrap a business. However, it’s also a super noisy world. You’re not just competing with your competitors; you’re competing for attention with click bait articles, cat videos and porn that is only a click away. It takes hard work, striving for excellence and a compelling message to stand out from all the noise and get noticed. Aesthetics of your marketing and website matter more than they used to as well in my opinion.” Ted Ryce
9. “Value yourself more highly. Charge what you know you’re worth. Don’t be afraid to ask for the fair value of your services. No one is ever going to offer you more than you ask, so you might as well go for it.” Thomas G. Fiffer
It’s what you do every day.
10. “Surround yourself with people who are going to elevate you to the next level. Start a morning ritual. Wake up earlier than normal and start programming your mind. Examples: meditation, affirmations, journal writing and watching motivational videos. Never stop learning. Keep investing in yourself. Keep your mind, body and soul in tip-top shape.” Joe Rodriquez
11. “Simple idea: make your game plan, but your strongest tool is acknowledging you will have to think on your feet often. There needs to be that little balance between having a solid plan and being able to interpret situations as they come.” Benjamin Mullen
12. “New entrepreneurs need to rely on the three P’s… Practice, Patience and Perseverance. Keep PRACTICING what you know and what you learn–a Mastermind of no more than four other entrepreneurs a little behind and a little ahead of you can help tremendously with this. PATIENCE is the absolute hardest part of entrepreneurship, and I keep the saying “Rome was not built in a day” on my desktop to remind me to be patient–all good things come to those who work smart, not just hard. PERSEVERANCE is my most prized skill, and I learned it best while potty training my kids–I WILL NOT GIVE UP!(diapers are a pain)” Mary Kathryn Johnson
13. “Try anything. Do things related to your dream work, and use them to give you time and money to build your business of what you love more. Then, don’t be afraid to cut loose what doesn’t serve your primary purpose.” Andi Cumbo-Floyd
14. “Focus on your strengths, hire people based on character more than skill sets for long term team building.” Marcos Orozco
If you’re just starting out or having trouble growing your business, use the advice from these motivating entrepreneurs. Remember to focus on the “why” behind your business and get back up every time you fall.