Every successful entrepreneur has had their triumphs and tragedies before attaining fortune and fame. So what makes a successful entrepreneurs? It is a tenacious resolve to follow their dreams and listen to the advice of others who have travelled down the road before them. The following are 6 business tips from the world’s hottest entrepreneurs.
Pick Your Friends Wisely
Tim Ferriss, NYT best-selling author, believes that ‘your network is your net worth.’ Successful people surround themselves with successful people. The best way to learn and grow is to have friends that can give you advice and introduce you to others that can assist in developing the business.
Be an Opportunist
Sheryl Sandberg, Facebook’s Chief Operating Officer, believes that when picking a job only fast growth matters. Be selective about your business ventures, but don’t sit on a new venture that shows the potential to make quick cash.
Invest in Yourself.
When your business starts making profits, don’t blow it on sports cars or designer clothes. Always take a percentage of profits to invest in your brand and own development.
Listen to Your Customers.
The customer is always right, at least when it comes to your products. If a customer complains take it as a sign that they still want to do business with your company. Listen to what they are saying, and make the necessary changes.
Yes you’ve managed to build a great business with your own hands. But this doesn’t mean you know everything. The fastest way to failure is refusal to learn. Seek out opportunities to learn. Go to conferences, read books and articles, network and encourage your employees to do the same.
Build a Meaningful Network.
The network effect is powerful and real. Take every opportunity to hobnob with your peers and forge new relationships. This will be our contacts and expand your business’ sphere of influence.
The world’s best entrepreneurs survive and thrive by taking chances and learning from their mistakes. FAM provides funding for entrepreneurs who want to follow their dreams, but can’t find funding from traditional lenders. Flexible loan programs and services make FAM a leader in the online lending industry. We offer customer financing options, merchant cash advances, ACH loans and more. Contact First American Merchant for cash advance or loan today.