The good thing about being a young entrepreneur is that there is a lot of energy to get things done and enough zeal to stubbornly stick through tough times and lead a company to success. The downside is that the stubbornness can often lead to disregarding good advice from more experienced people.
Good advice is one of the most important things an entrepreneur can have when running his/her own business and charting new waters. But there is no shortage of opinions and words from people. Here are a few ways to sift through everything and take the ones you need:
1. Have a good idea about the vision of the company:
Your company will have a set vision and mission. You have the destination in place and you’re at the starting point. All that is needed is a good idea about the route to get to your position. Sure the route will change and a few detours will be taken but a good entrepreneur should be able to figure out the next checkpoint. Once you know your checkpoints, use them as indicators for what advice you should let in.
2. Open Up:
If you want advice, you need to open up to people and let them know you can learn from them. Unwillingness to open up to people might ultimately result in wasting time and effort and ruining a few relationships along the ways.
3. Point out Weaknesses:
Every startup will have weak points. For example, you might not be able hire enough people to whose aggregate experience and expertise runs the gamut of business operations: Marketing, Accounting, etc. There can be other weaknesses as well, imbalance between work and business life.
In such situations, seek out advisors on areas your struggling on because they can actually give you tips that have worked before.
4. Get Rid of Those That can’t Offer Useful Advice:
As mentioned before, there is no end to people with advice or opinions. These come from every direction – family, friends, colleagues and customers are just a few examples. You need to figure out what intention people have in mind when they offer you advice and how their advice fits into achieving the company mission. Trying to process everyone’s advice and letting all those have a voice in your decision will not take you anywhere.
Friends, families and other close ones often give their advice out of fear and care for you. While they have good intention behind the advice they give, it often translates to unnecessary fear.
As for everyone else’s advice, create a plan. Customer feedback is will forever be useful information about businesses and products. But it should be collected on a quarterly or annual basis so that you have more data and feedback to make proper use of. For people who’re closer to you at work or who you regularly meet with, you will ideally have figured out your inner circle consisting of people who both have your best interests in mind and who can offer genuinely good advice.