The business finance world can be full of contradicting trials and tribulations. There’s too much information, left and right, that it in a second, one may just find himself incredibly confused. Of course, we have to count our blessings and thank those individuals who are actually trying to steer us to the right path. However, for every one of these well-meaning people, there are a dozen more with bogus business finance advice. At the end of the day, what business finance advice is worth considering, and whose should we ignore? We’ll tell you what we think on this:
1. Never listen to people that have absolutely no business experience whatsoever- We all seem to get business advice from that following people- the nosy neighbor, relative or co-worker who seem to think he or she is the expert of all things under the planet. When they hear that there is a whisper of a finance dilemma, they immediately jump in and tell you what to do. Not to sound mean, but who gave them the authority? Do they even have experience to back up these words that they are sprouting? We’re not telling you to be rude to them but let’s just say its better to nod along, but do not take this business advice, at least without a grain of salt.
2. Don’t listen to people whose business ethics and values are plain contradictory to yours- Sure, this guy who is giving valuable advice may already have a successful business up and running, but if upon talking to him or reading his blog, you notice that he does a lot of things that are just against your personal code and ethics then it’s best to steer clear of what he says, advice wise. You want your business, besides being a financially successful one, to become a reflection of yourself and the values that you uphold. If you run it through somebody else’s idea of what is right and correct, then you’ll always feel uncomfortable, the business will feel unnatural, and it will never be truly and completely yours.
3. Don’t listen to anyone stuck in their own generation and is negative towards change and improvement- the only constant thing in the business finance world is that it is forever changing, and it follows that there are new ideas developed all the time. What was not successful 5 decades ago could be a big hit today and vice versa. If you come across individuals who are always convinced that the old way is the only way, and will not even consider new ideas, then it may be a good idea to stay away. You want your business to grow and not get left behind, and not get stuck at someone’s idea of better times. The best way to see about business growth is to have an attitude of openness, and see how the business can be improved in the long run.
When you really dissect it, our advice is really all about using one’s common sense. It is your duty as the business owner to look at every piece of advice that you get and see if it is worthwhile following. If it is not, don’t hesitate and just refuse to take it, move on with your life and live and learn from that piece of advice. This is really the way to do great business!