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ENTREPRENEURS: Shut up and Listen When you Get the Chance

starting a business

Entrepreneurs: We Don’t Know Everything But Can Learn More When we Listen. Small Business Advice Can Come from Anywhere

I don’t care what kind of business you have if you don’t present it, yourself and/or your documents right, you are almost destined to fail. I learned my greatest lessons from doing business with people in New York. I like to call it “Being NYP” that stands for “New York Prepared.” That means whatever you present, it better be undeniable. In New York, most business people will not give you a 2nd chance if you submit something sub-par.

Small Business Advice Can Come from Anywhere

They will toss it and not respond to you, for the most part, EVER AGAIN. The first line of presentation is your idea. Even if it’s a good one and you are lucky enough to get a pro to advise you for free, TAKE THE ADVICE and don’t make excuses. I prefer to get advice from currently working pros. It just seems they have their finger on the pulse and they are not teaching because they cannot actually DO. This is the reason that many companies don’t like to hire older workers. Many of us are insulted when someone younger (or otherwise) tells us that we are doing something (that we have been doing for years) wrong. Or that there is a new way to do it.

Just the other day a gentleman called me with an idea he had for a magazine. He was all over the place. I kept asking him if he had a business plan, you really don’t nee a FULL plan, something I will talk about later but I asked him if he had mapped out anything. Before he could answer that question he was making excuses telling me why he didn’t need one. Mind you, he’s calling ME for advice.  I also asked him about startup capital. He kept skirting around the questions. I asked him about investors and he didn’t trust anyone. As he went on and on about how he was going to get his business off the ground and getting his team in place, I lost interest and unbeknownst to him, I knew he had already failed.

Small Business Advice Can Come from Anywhere

It sounded like he was confused…. and if he sounds that way to me, how will he handle the business and how will he sound to anyone else that he presents this idea to? He made several common mistakes potential business owners make. They are as follows:

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