Advice for New Entrepreneurs from 50 Fans

Entrepreneur MagazineĀ asked their fans ā€œIf you had to give new entrepreneurs one piece of advice, what would it be?ā€ After adding in my own two cents, and reading over 200 comments, I decided to share some of the insights.

  1. It is ALWAYS too early to quit. – Pamela
  2. Think Big! – Ramakrishna
  3. Learn from your mistakes, as you will make lots of them, but DON’T throw in the towel! – Sloan
  4. Start small. – Andrej
  5. Be true to your word and your friends and inspires others. – Julie
  6. Sacrifice in order to be successful entrepreneur and consistency is the key. Don’t waste time with college; it’s nothing but a debt when you graduate. – Janelle
  7. Bootstrap as much as possible. – Mary Lynne
  8. Stay Committed. – Amarilys
  9. Surround yourself with a good team. – Yael
  10. Please your customers. – Colin Continue reading

Where Good Ideas Come From: Insights by Steven Johnson

Ideas Take Time

An overnight success often takes years, and a Eureka moment is the result of lots work. In today’s society we expect things done yesterday, but you cannot force this kind of progress. Be patient and be willing to explore new avenues.

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Social Networking Lessons of 2011

#1 Lesson: The best way to reach new customers is through existing customers.

  • WOM is cheaper than advertising
  • Customer retention is cheaper than acquisition or win-back
  • Loyal customers are more likely to engage

Action: Connect with current customers instead of focusing your social media efforts on new business.

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8 Secrets of Success: Insights by Richard St. John (Part 2)

Push

Don’t spend time with people who don’t believe in you, instead look for positiveĀ feedbackĀ and support.

The best way to expand your boundaries is by consciously stepping outside of your comfort zone. When working out, you can only build muscle if you force yourself to keep going past the pain. However, personal trainers often provide you with the proper motivation needed to reach your fitness goals. Similarly, seeking out mentors and guidance will increase the likelihood of achieving success.

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8 Secrets of Success: Insights by Richard St. John (Part 1)

Richard St. John’s video shares 8 secrets of success in under 5 minutes, and I thought it might be helpful to expand on the secrets as well as highlight the mistakes associate with each one.

Passion

Don’t chase after the money, instead do what you love and the money will follow.

Successful people are passionate about their work, and would continue even if they were not paid a dime. In fact, many of them don’t even consider it work. People who are in for the money tend to give up as soon as they encounter hardship, and who can blame them?Ā PassionĀ can’t be faked. Luck or hard work may lead to a great opportunity, but it is not worth pursuing if your heart is not in it. When you do what you love you are bound to be successful, and even if you don’t earn millions – who cares? You are doing what you love!

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