What Advice Did You Take That You Wished You Had?

I posted this question in HARO (help a reporter.com) to successful business owners who work with other business owners.

“What sage advice were you given when you started your business that you didn’t follow and not only wish do you wish you had followed the advice — you eventually found yourself having to “doing it”? Specifically how did that advice help you grow your business.”

Below are the great answers I received. Enjoy and take their sage advice to help you grow your businessAND go visit their websites, too.

Grow yourself to grow your wealth
When I was 17, in direct sales, my first manager said to me, “your business will always grow in direct proportion to your personal development. I began studying learning, and soaking up every bit of wisdom that I could. I still read a book a week, scan 5-7 trade magazines, newspapers a week, and my business has never stopped growing. Any business owner should regiment learning into their day, with the same importance as eating. Read, study and learn everything that your competitors AND customers are both reading and writing. You will quickly be mentally ahead of 99% of your competitors.
Jon Berghoff, Owner
Global Empowerment, http://www.GEconnection.com

Who says you are great at filing?
As I struggled with my first business wearing all the hats, I remembered the advice I was given that I didn’t follow. Hire your weaknesses. That was the advice. I ignored it until one day I was sitting in a pile of papers, trying desperately to organize them when I realized I was working really hard at what I hated and wasn’t doing what I loved at all. That day changed everything for me, and my business grew exponentially after that.
Stephanie Frank, Best Selling Author
The Accidental Millionaire, http://www.successiqquiz.com

No one is going to fund your company.
The advice I received was that I needed to invest whatever money I had in my company I didn’t believe it. Most people would constantly tell me that getting funding is hard but the best way (some cases the only way) to start a company. I ended up investing my entire personal savings to start my business’s online store. I wasted about 30 days writing a business plan and 3 months making pitches to potential investors. I ended up taking the advice, investing all my life savings, focusing on getting customers, and that worked! We now have 5,000 stores really enjoying our business.
Rishi Shah, Owner
Flying Cart http://www.FlyingCart.com

Know Your Ideal Customer & Narrow Your Target Market
The advice I ignored was to get crystal clear on your target market. I thought it meant I’d have to turn away customers and therefore reduce my income.  After one mentor after another kept telling me to do this, I finally chose to listen.  The narrower my niche/target market in business, the more easily I was able to create powerful marketing materials that really resonate with my ideal clients/customers.  When you really know who your ideal customer is, and your target market is crystal clear, it’s FAR easier to attract lots more clients/customers.
Allison Babb, Small Business Coach
Allison Babb International LLC http://www.GreatSmallBusinessAdvice.com

Ask for help. Early
 The one tip I ignored was to reach out for help early on–marketing consultants, coaches, accountants and intellectual property attorneys can all help you jumpstart your business. I thought I couldn’t afford the up-front costs of these professionals, but in truth I couldn’t afford to be without them.  I would have been farther ahead financially and business plan-wise had I reached out for help earlier.
Diana Mercer, Founder
Peace Talks Mediation Services, Inc. http://www.peace-talks.com

Why No Gets You Closer To Yes
My crazy salesman brother-in-law told me about 3 years ago that when someone says no to your service offer, don’t get defensive or frustrated.  Thank them for getting you closer to the one prospect that will say yes.  Its like kissing enough frogs to find the one prince and thanking each frog as you eliminate him from the pile.  This perspective now makes hearing “no” easier to swallow and gets me right back on the horse with an optimistic, focused attitude looking for the next chance to win a deal.  And indeed I do.
Alyssa Dver, Chief Executive
Mint Green Marketing http://www.MintGreenMktg.com

 
In hindsight, advice is not always great 
I truly believe in hindsight that everyone I spoke to gave me awful advice. I could honestly tell you that those that I listened too which I thought were successful business owners, at the end were not. CPA’s by far give the worst business advice. I would tell any entrepreneur that their business is their own, not anyone elses. Take the information given to you by others and tailor it to who you are and what you see your business becoming.
Richard Reyes, President
The Financial Quarterback http://www.thefinancialqb.com
Public relations and marketing. Aren’t they the same?

=When I started researching for my business, my trusted advisors recommended building a strong public relations campaign. The terms “public relations” were familiar to me yet I understood them to be just another part of the marketing plan. As Farina and Associates, Ltd. began to take shape, I relied heavily on best practices and methods for marketing, leaving less room for the public relations aspect. Quickly, I learned that the greatest impact on my affected industry could be attained by utilizing a combination of in-house as well as outsourced PR systems. It’s important to realize that whether you are a start-up or already existing company, public relations must be strong in the beginning and flow constantly throughout the life cycle of the organization. Without it, your opportunities for success can be stifled.
Philip Farina, CPP – CEO
Farina and Associates, Ltd.  http://www.farina-associates.com

Thank you to all our guest writers and successful business owners.

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©2008 Maria Marsala, Strategic Business Coach,  Speaker and former Wall Street Trader at Elevating Your Business.  We help remarkable women CEOs get a life and future from their business by providing accountability, support and a (gentle) kick in the a$$ when needed. 
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