There are a hell loads of places where you could go to get advice for your businesses. Many people here give advice for free. Most people take this advice too.
But, does this advice work !!
Does this advice resonate with you?
Does this advice help?
No & a big No !!
Veteran Business Advisor and Astro-Business Strategist, Hirav Shah’s philosophy is “Take advice from only the top most people of that particular field”. Which means, in this case, you got to go to the top most entrepreneurs and get their advice. Someone is successful and someone who has seen all and been all and now is an accomplished personality, a successful entrepreneur…
Going to victorious and triumphant people and getting their advice and suggestions are “millionaire’s success habits” and in developing these habits- Suggests Legendary Business Strategist, Hirav Shah.
Hirav Adds– “These will not only help you swim upstream in your career, but also will aid in beating all challenges on your way to become winners in your career, business & life”.
Meanwhile, Hirav Shah mentions below business advice for entrepreneurs which are universal and shall work for all.
Table of Contents
1. Resilience
Despite uncertainty of any kind like financial etc…being resilient and willing to pivot when faced with challenges is critical for businesses to flourish and prosper.
2. Patience
As in all things in life, entrepreneurialism requires patience because things take time. It takes time to build a meaningful market product, sometimes years of development and frustration as you try new things and fail over and over. Dyson went through hundreds or thousands of test products before he got to his famous vacuum.
The marketplace takes time. It takes time for consumers and suppliers to get used to new ideas … or even to have the chutzpah to try new things in the first place. There are also existing businesses that make money (sometimes lots of money) and might not take kindly to upstarts trying to innovate in their field, what they might consider (rightly or wrongly) their turf.
It also takes time to get to know the key players / stakeholders in any industry, and to learn by observing their behaviors, what kind of people they are and what kind of relationship will be proper/best for your company’s goals.
Finally, there will be key customers/partners for your company that will make all the difference in terms of your long-term success. These future customers will already be active in the space, and frequently locked into relationships/deals elsewhere. It will take time to build trust and to demonstrate that you are worth their effort so they will want to work with you instead of pursuing deals elsewhere. It’s gonna take a lot of patience to attract these customers, then to close deals with them.
Be patient. Patience is key. Be patient to see it to the end, whatever that may be. It’s always an epic ride.
3. Spend Strategically
Don’t try to hit your major milestone faster. Let it take its time. Every entrepreneur wants to attain their first major milestone faster. In some cases, they gather investors and in others, they gather investors.
Don’t get too ambitious and assertive with spending. When you do that, you become negligent and unmindful and begin to lose sight of what matters to the long-term survival of your company, which is profits.
Invest every dollar planning on near-term returns so that you can reinvest cash flows back into the business.
4. Get Ready For The Long Journey
It’s not easy to start and run a business. It demands time, energy, dedication, motivation, resources and money. You know yourself better than anyone; if your ideals don’t align, you may not prosper.
The best thing to do is keep both your feet on the ground. If you are rooted in the reality of the situation, it is much smoother. Just be sure you have the right business for you and there’s a market for it. But, get ready for the long haul.
Great things take time and people often overestimate what they can do in a day or week and underestimate what they can do in a month or year.
5. Build Unique Value Proposition
Most businesses don’t work on their unique value proposition. They try too hard to be different from others instead of focusing on what makes them “valuable”.
How can you add value to somebody else’s lives? How can your services add value to customers’ lives ? How can your company add value to consumers’ lives?
Work on building your unique value proposition instead of copying someone else’s work.
Final Thoughts
Most of the time, it is not about the huge revenue, massive exits and humongous success. Entrepreneurship is as much about
bravado, valor, adventurousness and risk taking, as it is about being patient enough to realize the reward and doing the hard work, brick by brick, day by day, while the other parts of life unfold right alongside it-Tells Hirav Shah, India’s Most Sought After Business Advisor.
