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Thinking of Starting a Business? Don’t Rely Too Much on the Advice of Others

By Faith Stewart
on January 3rd, 2017

Faith Stewart is a wife, mom, and freelance writer. She earned a BBA with a major in accounting and spent 10 years working in the fields of finance and accounting before pursuing her passion for help

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Thinking of Starting a Business? Don’t Rely Too Much on the Advice of Others

Everyone has advice. Sometimes it is good advice, sometimes not so much. Advice can be a great thing in many aspects of life, including starting a business. The problem is, not all businesses are the same, so there is no real cookie cutter advice.

How do you know whether to take it or leave it? How do you know if you should try out what you’re told, or skip it and do things your own way?

1. Consider the Advice in Relation to Your Own Business
Much of the advice given about starting a business is given by those who have tried it in their own business and it worked for them. That is common and smart. Why would you suggest someone try something that didn’t work for you?

The thing is, your business may not work the same way. Whatever advice they are giving, consider how it would work in relation to your own business. I can help to start with how their business is similar to yours, or not.

2. Think it Through
Before you take anyone’s advice, think it all the way through to the end. What will be the end game of following the advice? It may look great in the beginning, but what if you consider all the possible scenarios? What if you do “that” and “this” happens. What are the possible outcomes?

This will allow you to do an analysis of the cost vs. the benefit of following the advice, and make a more educated decision.

3. Don’t Be Too Hard on Yourself
Whether you take the advice or you don’t, whether it works out or it doesn’t, don’t be too hard on yourself or pat yourself on the back too much. Everyone’s choices are half chance. You have a 50/50 shot of getting it right.

If you don’t get it right, you really can get a second chance. Using every platform you have, make it known you are making a change to make things right. Ask for a second chance. Offer incentive. In these days of social media, you just might get what you ask.

A second chance to make a first impression can exist, sort of.

Biz2Credit is dedicated to helping you succeed, regardless of whether you take the advice or leave it. Our network of lenders offers small business financing products for various types of businesses in a variety of situations. Whether you need funds to get started or you want to expand, our lenders have something for you. Visit Biz2Credit.com today to get started, or to see what we can do for you.


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