Entrepreneurship is a serious business as one needs to be dedicated and passionate about what they are pursuing. Business lessons gathered from people who are more successful or experienced than you can prove to be useful which is why they need to be paid attention to. If this is your first plunge into the entrepreneurial scene, it is always advisable to learn from other mistakes.
Here are a few business tips from successful entrepreneurs which will help you to enhance your business knowledge:
“It is vitally important to present a clear, concise plan that investors can easily understand and repeat to their own people. In the first meeting, avoid overly complicated, numbers-laden presentations. Nothing stays the same for long, so explain how you plan to tackle the inevitable technological changes and market shifts that are heading your way.” -Richard Branson, Virgin CEO
“Go after solving a problem that you have. Something that’s near and dear to you, not some random market opportunity. Because, when things get hard, if you’re chasing just the dollars, or a random market opportunity, you’re not going to be able to have the fortitude, the passion, to stay with it.” -Jarvis, CEO of CreativeLife
“ I learned that you can’t build a business with two centres of gravity. Your centre of gravity isn’t your product, or your customers, or your market. Rather, your true centre of gravity is somewhere at the intersection of what you’re passionate about + what problem you want to solve + why that problem matters.” -Dan Greenberg, CEO and co-founder of Sharethrough
“Focus. Don’t try to do too much. Entrepreneurs are always thinking of the next thing to do. It’s great, but we only have so much time and brain power to focus on the right areas.” -Sujan Patel, founder & CEO at Single Grain
“If you get a prototype out and you get enough people using it, you never have to write a business plan. A prototype is where you separate the BS from reality.” -Guy Kawasaki, chief evangelist of Canva, author of ‘The Art of the Start 2.0’
“Take your time to think through something and when you’re ready, act fast. This absence of this diligence has been a common thread among some of the failures I can think on – hiring vs. firing, inadequate snap judgments, arguments, etc. Firing people, for example, can be one of the most difficult parts of an entrepreneur’s journey. It can be important for a company to move forward, but they’re moments that are never devoid of emotion.” -Matt Galligan, CEO and co-founder of Circa
“Though my previous company was ultimately a failure, it taught me a very valuable lesson: be maniacally focused on your customers. Though my previous company was ultimately a failure, it taught me a very valuable lesson: be maniacally focused on your customers.” -Jon Beekman, the founder and CEO of Man Crates