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

Thinking of Starting a Business

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.

Published: January 18, 2017

Source: Biz2Credit

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Biz2Credit.com is an online, small business platform that matches entrepreneurs with credit solutions based on their business preferences in a safe and price-transparent environment. Biz2Credit is a market leader with more than 1,100 lenders, over $800 million in funding, and over 1.6 million SMB users in the U.S.

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