Best business advice you have been given so far

[eldavis]

Each and everyone of us have one business or the other, or we plan on going into a particular business. i believe in one way or another we might have come across some business ideas in one from or the other. what is the best business advice you have ever come across. personally for me the best so far which i would never forget and have been working with is
" always invest what you know you can loose*
this simply means whenever you plan on going into any kind of investment, make sure you do not invest all you have. most people tend to invest their whole capital in an investment they come across simply cause they see others making money from it. invest only what you are comfortable loosing so Incase the business does not go well, you will definitely have something to fall back to. though finally learnt this the hard way, so i do not really want others to fall or find themselves in situations like this later on.

 

[CALVINDOL]

It is always advised for an individual to plan and to speculate the possibility for the business in which he or she has in mind to grow and to develop. What are the best advice I have received concerning business establishment is the ability to calculate all the risk involved in managing and also operating such a business down to successfulness and prosperity. It is absolutely never an easy thing to establish and also operate a business but when you calculate all the risk involved you could be able to make it more easier and also increase your chances of managing and operating a business down to successfulness and prosperity.

One of the major risk involved is product risk. As the business manager or the business owner you must be able to choose the right product as well as the right services to sell and to render in order to earn revenue. Another possible risks to consider his competitor risk. As the business owner or an individual intending to own business you must be able to put into proper consideration the ability for your competitors to affect your business growth. And that could be effectively don't give you take your time to analyse who are your competitors before establishing the business.

 

[Activator230822]

As far as I am concerned I am business oriented person. Since I discovered myself till now I have seen that business is my thing in my life. Since I knew how to make money I have not engaged in any other thing other than business.
So some time back I started a business of hawking the packaging and career bags to various shops so that I can sell them to the shop keepers in the wholesale prices while walking from one shop/kiosk to the other.
There was this one of my clients who saw the way I was struggling walking so many miles supplying the packaging bags and really show his sympathy towards the situation

He advised me to look for a bicycle that I can use for with the doing of my business with ease.
He even found for me a used bicycle from a friend that I bought it at a relatively cheap price.
The bicycle has been a game changer to my business and I now I plan to buy a motor bike.

 

[SHAHID987]

One piece of business advice that I've come across that I think is particularly valuable is to focus on creating value for your customers. This can take many forms, such as offering a unique product or service, providing excellent customer service, or finding ways to make it easier for customers to do business with you. By focusing on creating value for your customers, you can build a loyal customer base that will be more likely to recommend your business to others and to return as customers in the future.

Another important piece of advice is to be flexible and adaptable. The business landscape is constantly changing, and the companies that are able to adapt and evolve are the ones that tend to be most successful in the long run. This means being willing to try new things and to pivot when something isn't working, as well as being open to feedback and willing to make changes based on what your customers and employees are telling you.


Additionally, the ability to keep a clear focus, be persistent and maintain the right balance of focus can be a game changer for your business. It is vital for business leaders to identify what are truly important goals, to not be swayed by distractions and keep the team on track.

Another important tip is to have a good sense of what's going on in your market, industry, and competition. In order to be successful in business, you need to have a deep understanding of your customers, what they need, and how your competition is trying to meet those needs. By constantly monitoring and analyzing the market and industry, you can stay ahead of trends and find opportunities to innovate.

Finally, the most important thing to remember is that your people are your most valuable asset. Hiring talented and motivated individuals, fostering a positive and productive work culture, and treating your employees with respect and appreciation can make a world of difference in how your business operates and performs.

These are just a few examples of valuable business advice, but there are many more strategies and principles that can help you succeed.

 

[Etini]

The best business advice I have ever heard was that I should not use my business capital for myself no matter how bad things may be. The adviser told me that I should try to lay myself a fixed salary every month no matter how little. That is what I would most likely use to take care of myself.

Another advice I was given was to pursue value and not profit. If customers can identify you as a business person that offers value, they would appreciate you by giving you huge patronage that would lead to increased brand loyalty and profitability.