What is the best piece of practical business advice you've ever received, and why?
To help entrepreneurs succeed in business, we asked other entrepreneurs and business leaders this question for their best advice. From always doing good work to putting proper systems in place, there are several pieces of practical business advice you can use for your next business venture.
Here are 14 pieces of practical business advice:
Steer Clear of Micromanaging
Improve Your Argument
Test, Learn, Repeat
Always Do Good Work
Have a Clear Life-Work Balance
Network With People in Your Niche
Practice Self-discipline
Learn How to Delegate Effectively
Get an "A" Team
Work With People You are Thrilled About
Focus on Top Priorities First
Simplify Things
Depend on a Successful Marketing Strategy
Put Proper Systems in Place
Steer Clear of Micromanaging
As a leader, one of the best things to keep in mind is to steer clear from micromanaging. When a leader micromanages their team, it can be seen in productivity levels. Team members tend to be more efficient when they can work in the manner that best suits their particular skills. Plus, they don't feel the pressure that micromanaging can cause.
And while micromanaging can wreak havoc on employee engagement and overall happiness, it can also keep leaders from realizing their full potential as well. Rather than focusing on tasks that make the best use of their expert skill levels, they are focusing on things that they've already decided to delegate.
Greg Gillman, MuteSix
Improve Your Argument
This phrase 'Don’t Raise Your Voice. Improve Your Argument' stuck with me while watching Suits, and yes, it was Harvey Specter who said it. It stuck with me because I had the misfortune to work with managers who would say things like 'You're going to do what you're told' 'because I said so' 'You either do it or you'll get fired.' Their only goal was to prove to be above everyone and, as a result, believed that only they could be right.
As I became a manager, I lived by this advice and learned to earn the respect of my team by improving my arguments, ideas, or projects instead of raising my voice or imposing my will on them.
Jessica Ulloa, MyPerfectResume
Test, Learn, Repeat
Test, learn, repeat. Come up with an idea, iterate it, and do it again and again. This is great business advice and always holds true. If you do this, the idea that you have created and then executed will lead to the success you want. It will also help you make the meaningful impact you desire to have on the world.
Shaun Price, MitoQ
Always Do Good Work
That someone is always watching, so do right, even when you think no one is looking or cares...someone is and someone does - you just may not know it or see it and, frankly, it shouldn't matter!
My father taught me a long time ago that the people that need to know you are doing good work will actually know. Neither of us know how but I have found, in my experience, that this actually is true. And, frankly, as I stated above - does it really matter if someone recognizes what you are doing? I was raised that the only thing I have in life (business or personal) is my word so I should be sure to honor that at all times. It has worked for me time and time again. (And, the few times I didn't follow that? They, professionally, turned into "career-ending moves" and, personally - have lost friends and credibility. Plus, it's embarrassing!)
Stay true to your values - someone DOES see it and they DO care!
Karen Young, HR Resolutions
Have a Clear Life-Work Balance
Working in a digital-first landscape, we have the constant pressure to always be "on". There is pressure placed on employees from their managers to prove that they are working and being productive. Employees want to show their worth and are trying hard to prove themselves as worthy and productive members of the company. In order to have a clear work-life balance, it is essential to have a hard cut-off in time of when the working hours start and finish throughout the working day.
I work from home and have little kids at home. My wife and I both work full-time and are trying to keep them educated and entertained. It has been a challenge to keep a balanced schedule, but we are very strict on finishing our working day at 5 pm and having family time for 3 hours until our kid’s bedtime at 8 pm. If there is work that my wife or I need to finish, then we do it after the kids are in bed. In addition, I have gotten into cycling to exercise and recharge mentally.
Alexander Shute, FaithGiant
Network With People in Your Niche
Trying to serve every one all of the time is a recipe for burnout. Spend time talking to people who are already interested in what you have to offer. Make sure they fall into your ideal client profile. Find people in your niche to network with and you'll achieve success.
Craig Carter, Jack Mason
Practice Self-discipline
Without self-discipline, establishing yourself as a successful business leader is next to impossible. There's an incredible amount of responsibility on your shoulders, from making calculated decisions, overcoming challenges, and leading a strong team of professionals. To do all of this efficiently, you need to be a master of your own time and resources which all begins with self-discipline.
Philipp Zeiske, Zeitholz
Learn How to Delegate Effectively
Whenever a person is in a leadership position, it's crucial to learn how to effectively delegate tasks. Of course, this can be difficult for those with an entrepreneurial spirit, or for startup founders who are used to wearing many hats. However, delegating a task to a very competent member of your team can be the right thing to do for many reasons.
First, a leader needs to actually "lead," and not find themselves in the weeds of everyday projects. And you hired each member of your team based on their specific skill sets. Let them utilize those assets, as well as learn and grow right along with the company. That's why delegation, when done right, is a win-win!
Marc Atiyeh, Pawp
Get an "A" Team
I was getting advice from a friend for my company, I’ll call him Tom. I went to Tom with a different startup idea, and a different team, probably 10 years ago. He told me, “Nancy, you have an A idea, but you have a C team.” Tom went on… “If you came to me with an A team, but a C idea I’d invest, but I won’t invest with this team.” I was shocked!
I thought my previous team was solid and super talented. Tom pointed to the resumes/bios in the pitch deck and showed me the specific people and areas of his concern. I disagreed and was certain I’d prove him wrong about my co-founders. Two weeks later, just as Tom had predicted, my co-founder left me high and dry to take a job with another start-up, and with him went the skill set that was critical for the company's success. I had invested so much time working on that project only to have it implode with the loss of one person. However, this failure allowed me to find the A team that I needed to make my company successful!
Nancy Belcher, Winona
Work With People You are Thrilled About
At one point in my career, I was hiring a number of team members in a very short period of time. While reviewing the candidates for the roles, my Executive leader said, "If it's not a "heck yes" then don't hire that person. We want to work with people we're thrilled about and that are thrilled about us." That concept was so practical and immediately helped me realize the difference between a good candidate and an amazing candidate. It helped me to move on faster and to be more aggressive when I found someone that was great for the job.
Logan Mallory, Motivosity
Focus on Top Priorities First
As a business leader, you'll have to deal with many tasks and projects to be completed in a short amount of time. With so much going on, you may forget or lose sight of the mission-critical tasks that must be done, leading to lost opportunities or even penalties. At the start of each day, determine what is the most important thing that needs to be completed and do it right away.
Susanne Tedrick, Microsoft
Simplify Things
The best piece of practical business advice I have ever received has been to simplify things. Things can often be complex and solving problems has multiple ways of solving them, but if you can simplify these problems and create simple solutions it will be easy for your customers to understand them. Make things as simple as you can and solve problems in a simple and practical way. This will produce the best results for your employees and customers and allow you to continue to grow your business.
John Wu, Gryphon Connect
Depend on a Successful Marketing Strategy
A successful business is very dependent on marketing; if your customers do not know about your products, you will not be able to make any money. Anytime I start a business, I think about how I could introduce it to people. If it’s a very good business idea, but it’s difficult to introduce, I forget about it and start something that I can market better. That is the best advice I got and it has paid off every time. A very good marketing strategy that is very effective for my own business BGPCO.ca is SEO.
Arthur Morgan, Bennett's Grain
Put Proper Systems in Place
Systems allow a business to grow and scale. A founder can only grow a business so large by themselves. At some point, others will have to join the team. By having proper systems in place, the onboarding process is much smoother and efficient.
Tucker Anderson, Black Diamond Junk Removal
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