If you’re an aspiring entrepreneur, you’ve probably spent a lot of time researching what you should and should not do to build a successful business.
You’ve probably read about finding an idea that solves people’s problems and networking a million times. So let’s do something a bit different right now and look at some of the more uncommon business advice that has worked for many a successful entrepreneur, but which you don’t often hear about…
Your personal brand is so important
You’ve probably read a lot about building a solid brand for your business if you want to be successful, but what about your own personal brand?
If you want to be a truly successful entrepreneur, you need to have personality, authority, integrity, and a whole bunch of other positive qualities.
People need to see those qualities in action, which is why you should spend as much time boosting your own image as you should your company’s brand.
Prototype is more important
This particular piece of business advice comes from Guy Kawasaki. He firmly believes that if you are able to create a product prototype that works well, that gives you incredible leverage.
When more and more people use it every day, that is a more effective way to get your business up and running. It may even be better than coming up with a detailed business plan or future forecasting for your company.
This makes sense because if you can show that your idea works and people love it, why wouldn’t investors want to get on board?
Renting can be better than buying
Most new entrepreneurs think that, if they can get the finance, it makes more sense to buy the equipment they need to actually run their business. This is because it will cost them less in the long term.
However, short term, cash flow is the most important thing for your business.
This means being able to pay flexibly. So a rented fleet of flatbed trucks or printing equipment can be the better choice.
It enables you to keep more money in the bank for those extra expenses.
This could well stop your business from grinding to a halt should you go through a rough patch.
Success is mostly about mindset
Many people would argue that business success is all about having a great product and an excellent business plan. But some entrepreneurs, including the incredibly successful Tim Robbins, think that mindset is even more important.
Again, this makes sense. Although you do need to have a decent product and plan, for sure, if you don’t also have grit, determination, and a belief in your business, chances are, you won’t be one of the few that makes it past the first year, let alone further into the future.
This business advice may be uncommon, but it is all pretty sound stuff.
When used in conjunction with the more common wisdom about starting and running a successful business, it could really help you get ahead of the competition and do great things as an entrepreneur.
(Disclaimer: This content is a partnered post. This material is provided as news and general information. It should not be construed as an endorsement of any investment service. The opinions expressed are the personal views and experience of the author, and no recommendation is made.)