Forums Main Forums General Topics What is the best business advice you ever got?

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    • #16162
      HS1HS1
      Keymaster

      Please share with our community the best piece of business you ever got!

      I’ll start… an early mentor of mine told me this:

      For a business, cash is like oxygen. I’ll be you haven’t thought about oxygen in a while but if someone sucked all the air out of the room, you would not think about anything else.

      When companies run low on cash they do stupid stuff. Make sure you keep track of the cash in the business and have an early warning system.

      • This topic was modified 2 months, 1 week ago by HS1HS1.
      +1
    • #16181
      filmsinspacetxfilmsinspacetx
      Participant

      HS1,

      This is an excellent piece of advice. I watched a motivational video that reminds me of this. The video discussed the freedom you gain when you focus on one goal and don’t let anything stop you from winning.

      The best business advice I’ve ever received is to build a team that shares my vision. A project where I am working with like-minded individuals brings the best out of me and my abilities. I’ve accomplished this in the past by being transparent about my goals.

      – Marco

      +1
    • #16182
      nighttrainnighttrain
      Participant

      The best advice I got was to make sure I was selling our products for a high enough price. Sounds pretty basic, but it takes discipline to buy stuff for $1 and sell it for $3; rather than $2 (double). Running a business costs a lot of money and you gotta make sure youor margins are high enough.

      +1
    • #16244
      TLCustomzTLCustomz
      Participant

      The best business advice that I ever received was: If you are thinking of starting a business, discover what your passion is and build your business around that – that way you are living in your passion and it will not feel like work. You will always be interested in the best outcome because you are passionate about it.

      +1
    • #16292
      bmaday428bmaday428
      Participant

      I have the say the best advice I ever received was just to remember that everyone puts their pants on one leg at a time. When I think about that before making a big decision, I’m less likely to question myself about things like “am I good enough for this?” I’ve always found it helpful before working to market something because I know not everyone will agree with or like everything that I do, but that doesn’t make them any better than me. It also keeps me grounded by reminding me that I am not any better than anyone else. We are all human, imperfect, but perfect for the lives we are living.

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