Question: What is the worst piece of business advice you have ever received?
'That Won't Work'
"Be careful who you take advice from. Just because someone has been successful in one particular walk of life doesn't mean they know about all business models. It's easy for a person who doesn't understand your ideas and thoughts to shoot them down for one reason or another. It's your job to validate your ideas by talking directly with potential customers. "
@dnevogt
'Stick With Your Degree'
"Everyone thinks that if you stick with your professional degree, you'll be automatically successful. But skills are transferrable, and degrees should not define you. "
@benishshah
'Fire Your Team'
"I once had an investor advise me to fire our entire team and close down an office. This would have been a disaster because they were on the eve of launching a product that later brought us significant success. Fortunately, we took the time to get to the root of our challenges and how our team would help us solve them. It turned out to be nothing more than a misunderstanding. "
@tylerarnold
'Don't Tell People Your Age'
"As a two young female entrepreneurs, my business partner Brittany and I realize we are a rare breed. Someone told us early on that we should never disclose our age because we would "never be taken seriously." Some of the biggest names in innovation are well under the age of 40. I believe good ideas, no matter who they come from, trump anyone's birth year. "
@kimkaupe
'You Have to Offer the Lowest Prices'
"Retail entrepreneurs think they need to price their products lower than their competition to earn business. This strategy is not sustainable because profit margins will constantly be shrinking; someone out there is always willing to cut his margins lower than you. Instead, price your products at fair market value, and provide additional value/service to your customers to differentiate."
@cabinetkings
'Keep Working Hard, and Eventually You'll See Success'
"I worked hard for several years, and I was doing nothing more than spinning my wheels. It wasn't until I started working smart that I achieved success."
@moneycrashers
'It Won't Work if You Do It That Way'
"Just because you don’t do things the way others in your industry are doing them doesn't mean you are wrong and will be unsuccessful. Part of standing out from the crowd is being different, so embrace your differences, and do what works best for your business."
@mmogill
'It's Better to Be Feared Than Loved'
"I had someone tell me the way I was interacting with some of my 20,000-plus independent contractors was too friendly and that they would take advantage of me. In fact, it is our personal connection to them and genuinely caring about their individual goals and dreams that has helped us build one of the strongest networks of marketers for hire in the U.S. You catch more bees with honey. "
@VictoryVinny
'Never Say No'
"When I was first starting out, I heard from more seasoned entrepreneurs how they feared telling a client they couldn't take on work because the client might not come back to them. But in my experience, I've found the exact opposite to be true. Clients like working with you and respect you when you're upfront about what you can and can't do and consistently deliver quality work on time. "
@RealLifeE
