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As a business owner, entrepreneur or start up, what is that one piece of advice you need to get you started or to take you to the next level?
If you could get that golden advice that will help you become a better entrepreneur who would you rather get this advice from?
I am sure your choice is as good as mine; it would be from people who have done successfully what I am doing or intend doing.
Are you a business owner, entrepreneur or are you on the verge of starting your own business? Whichever level you are right now, this post is written just for you.
I will be sharing with you seven great advice from super successful people and I believe the advice that they shared will be helpful to you in the journey of running your own business.
Business is not for the faint of heart and to be successful it is important you have information that will help you have a better chance of succeeding.
So let’s get right on it!
Hold on, it is important that I state that the advices are not listed in any particular order based on importance, they are of equal importance to your success.
With that said let’s roll.
1. Warren Buffet:
Warrant Buffet is the CEO of Berkshire Hathaway and is popularly known as the world richest investor and that is rightly so as he is the 6th richest man in the world as at the time of this writing, with a net worth of over 100 billion dollars and here is his advice for entrepreneurs:
He advises that as a business you should never stop thinking about how you can delight your customers whether you are a large business or small business and he wasn’t talking about just satisfying your customers but delighting them.
He says you should think about it day, noon and night, you should dream about it; he says no company ever fails that has millions of delighted customers.
I can imagine what you may be thinking “how can I delight my customers?”
Well I wish I can say more on how to delight your customers but that is beyond the scope of this article but here is what I will do. I will recommend you read the book titled How to win customers and keep them for life by Michael LeBoeuf, Ph.D.
I think it’s a great book for any entrepreneur to read and learn how to win customers by delighting them.
2. Michael R. Bloomberg:
Michael R. Bloomberg is the founder of Bloomberg LP, a media company he founded in 1975. Michael Bloomberg is the 16th richest man in the world according to Forbes list of billionaires in 2020.
Here is what he has to say to entrepreneurs:
He says there is no substitute for hard work. The best time you are ever going to have is when it starts out just you and it will be great if it grows into a wonderful, big, profitable company.
He says you are never going to be happier and more satisfied than you are in the first year or so of getting your business going because you do every single thing.
You sweep up when everybody goes home; you are the first one in. You plug in the coffee pot so when your people come in they have hot coffee and can get straight to work. You work through lunch, you set an example for them but there is no substitute for hard work, people say luck. Yes, but the harder you work the luckier you get.
3. Kerry Healey:
Kerry is the current president of the Milken Institute’s Center for Advancing the American Dream in Washington, DC and her advice to a small business owner or any entrepreneur would be not to be discouraged if the business you end up with is not the one you started out to pursue because so often, you encounter difficulties, you encounter failures and the important piece is to learn from each of those very quickly and to pivot and to move on to the ideas that works
4. Lloyd C. Blankfein:
Lloyd is the chairman and CEO Goldman Sachs and his advice for entrepreneurs is to be close to your products, close to your customers, and think about them that is the most important thing but don’t forget to think about your business, what your plans are, what you want to do next, how to take your business to the next level.
Again, think about being in your business but think about your business as well.
5. Jack Dorsey:
Jack is the founder of the bird app Twitter and CEO of the financial payment company Square and his best advice is to really work hard to clarify what your purpose is and to be able to articulate that, to be able communicate it in simple sentence and the reason that is important is as you hire people into your company, the most important question you ask them is why are you here, why do you want to join this company. And if you hear that purpose back, if you hear the passion around that purpose, it makes everything a whole lot easier. Any skill can be learned and taught, but passion cannot.
6. Marc Morial:
Marc is the president and CEO of National Urban League and he says being an entrepreneur can be a roller coastal ride at times. You will have great days; you will have not so great days. You may even from time to time have an awful day but you have got to stay focus, and stay level headed and keep your feet on the ground.
7. Michael E. Porter:
Michael Porter is a professor at Harvard Business School. He is also the founder and chairman of Initiative for a Competitive Inner City and here is what he has to say to entrepreneurs:
Companies that do well at some level, even though it may not be written down on a piece of paper need to have kind of a clear strategy of why they are different, why they are adding value, why they are producing something special that customers need that they are not getting now.
He thinks that if there is a clear sense of strategy and you can get all the people aligned around that, then you get a lot more power than if you are just scrambling and working harder and harder without that clear direction.
We hope you have enjoyed the article or found the advices stated by these super successful individuals useful, kindly leave a comment using the comment box below. We would love to hear your thoughts or suggestions.