The Worst Business Advice For Entrepreneurs

1. Build On Sand...literally

The Bad Entrepreneurial Advice I Ignored: I was consulting in Dubai in late 2008 and I was advised by a headhunter that it would be great for my career to take a permanent role. While doing 2009 budget planning I saw how bad things were getting and so I came back to the UK. My consulting has gone from strength to strength and the Dubai story is well known by the world!

Thanks To: Marc Lawn of The Business GP

2. Sell Your Time - Not!

The Bad Entrepreneurial Advice I Ignored: The worst business advice I received early on as a consultant that I chose not to follow was to "sell my time". I chose instead to package services and price them using a much more inclusive formula.

The Result
I earned appropriate profits that reflected my experience, my time, the risk factors, and loads of hard work.

The Message: Don't undervalue what you do!

Thanks To: Kate Nasser of The People-Skills Coach, CAS, Inc.

3. Throw The Bum Out!

The Bad Entrepreneurial Advice I Ignored: I was looking at buying an established business from a Broker who cut his teeth on the validity of the business model. The numbers, the industry, the goodwill..etc....

I walked away the business shut down in less than 30 days.. Be smart do your homework and eat your spinach!

Thanks To: Jerry Pollio of CMT Creative Marketing

4. Go Public.

The Bad Entrepreneurial Advice I Ignored: Years ago one of our companies was doing really well and we were advised (more than once by various sources) that we should take the company public.

The result was, really, just a lot of hours and money wasted looking into myriad options -- to do something we didn't really want to do anyway.

Getting advice is good. Listening to input is good. But spending too many resources on something that isn't really part of your business plan is not.

Thanks To: Alison Moore Smith of Start Blogging in 1 Week

5. Work Harder, Make Less

The Bad Entrepreneurial Advice I Ignored: Early in my business I was told that if I cut my price in half I could double my client base. Somehow working twice as hard for the same money didn't have any appeal to me. I price according to the value I provide and enjoy considerably higher returns on my effort than the vast majority of professionals do.

Thanks To: Dale Furtwengler of Furtwengler & Associates, P.C.

6. Go Get A Real Job

The Bad Entrepreneurial Advice I Ignored: I think the worst piece of business advice I've received was to go get a real job; to remove starting a business from the picture. There is nothing wrong with having a job - nothing at all - except that it's just not for me .

I did act on that advice for many years, and honestly that experience was valuable. It has made me a better business person. Why? Sometimes, knowing what you don't want gives you clarity about what you do want.

Thanks To: Krista Dunk of Koinonia Business Women

7. Follow The Money

The Bad Entrepreneurial Advice I Ignored: I said no to that, changed careers and followed my passion. Still in business 30 years later!

Thanks To: Christine Scioli of Zan Media

8. Venture Out

The Bad Entrepreneurial Advice I Ignored: Someone gave me advise to start my own business, to venture out on my own. I did not take their advise I started with a company and became self employed, but I still work for them. They watch my back and look out for me. I have the name standing behind me instead of me standing in back of myself. It i my own business, but it has been around for over 125 years, I have not!

Thanks To: Sheila A Caruso of AVON

9. Don't Leave Money On The Tabl

The Bad Entrepreneurial Advice I Ignored: Don't leave money on the table is the worst advice/urban myth ever! When I finally stopped listening to this horrible advice I tripled my income in one year.

I used to chase every deal thinking that I have to take the small deals so I can get the big ones. I totally transformed my business model to focus on the customers I like to deal with and the profits that are worth my time.

I left behind 90% of my existing customer base and left money on the table. Best descion I ever made!

Thanks To: Evan Money of Evan Money Inc.

10. You Needs Money To Make Money

The Bad Entrepreneurial Advice I Ignored: I was told by my mother that I needed money to make any money in business and that never bode well with me. All of these bootstrap glory stories i have heard, they never had money, it was ingenuity. They are my heroes. I have landed jobs with rental equipment prices built into the cost. Carry on win what you have because you can come across resources after you begin the journey.

Thanks To: Mike Schreurs of Roke Media

11. Score=0

The Bad Entrepreneurial Advice I Ignored: I developed my business plan, did test marketing for my web site, consulted an MBA instructor, talked to lawyers and accountants then went to the local SCORE chapter. I was told that it was a stupid idea and would never work. So... best way to succeed in business is to "not try"? Last month web site exceeded 600,000 page views! Site is not generating much income yet, but I refused a 7 figure purchase offer (before the site went live)!

Thanks To: Carl Forsell of Connections Planet

12. Work For Others, Not Yourself

The Bad Entrepreneurial Advice I Ignored: The worst advice I was ever told was "don't become an entrepreneur or start a business, go work for someone else and get a secure job." Most tell you this because this is the normal thing to do. Some are meant to work for others and some are not. I went against the flow and knew that I had the drive just like those who started something from the ground up. If you do what makes you happy then you always win no matter what. I found my passion and I am glad I didn't settle with the advice!

Thanks To: Ashley Bodi of BusinessBeware.biz

13. No One Can Make Money At That!

The Bad Entrepreneurial Advice I Ignored: The worst business advice I received as I was launching was "no one makes money at being a coach - do something else!" When my business broke 6 figure in 3 months, matched my old executive salary in 12, and hit mid-six figures in less than 3 years others took notice! Now in addition to supporting executives, leaders and business owners to be wildly successful, I also teach other coaches how to live their passion - and make money doing it too!

Thanks To: Ann Farrell of Quantum Endeavors, Inc.

14. Worst Press Kit Advice

The Bad Entrepreneurial Advice I Ignored: The first press kit I ever did was for my sister's handbag company. I sent it out to my list; the next day, a PR pal took a look at it and just tore it apart - she said EVERYTHING was wrong; from how it looked to what I wrote - change it! Now! I was so upset - it had already gone out! But we had really liked the look of our PK. Sure enough, the calls started coming in from the editors - they LOVED my press kit and thought it was terrific. It resulted in tons of press; glad we didn't change it.

Thanks To: Lizzy Shaw of Lizzy Shaw Public Relations

15. Go With Your Heart

The Bad Entrepreneurial Advice I Ignored: In my family, the best business advice they could muster was that I should become a lawyer or some other respected profession. Problem was, my heart was never into it. I always graviated toward creative whimsical things and even though I had no idea what I would do after graduating college, I decided to stay open and see where I would be drawn. Turns out I started two really fun companies marketing animation artwork from televisoin commercials and then making celebrity rubber ducks! Who knew!

Thanks To: Craig Wolfe of CelebriDucks

16. You Want To Do What?

The Bad Entrepreneurial Advice I Ignored: The worst advice I ever got was not to start my buiness. I got a lecture on the economy and how I would have no customers I recall the following words "noone in their right mind would start a buiness right now" Lukily I never listen when I have my mind set and I'm so glad I didn't.

Thanks To: Michelle Littler of littletoad

17. Shalom? Peace? Why?

The Bad Entrepreneurial Advice I Ignored: A SCORE counselor once told me that he couldn't understand why anyone would want to buy a t-shirt with Shalom - Salam - Peace printed on it - he recommended that I change the messages on my t-shirts. Well, 5 years later, the Shalom - Salam t-shirt is still one of the best sellers! And Peace is a main theme of MotherTongues t-shirts and ethos, a good reason not to listen to all advice!

Thanks To: Michelle Hamman of MotherTongues

18. I Dared To Be Different!

The Bad Entrepreneurial Advice I Ignored: My worst advice came from an expert. Growth = Buy cheap, make products cheaply and sell cheaper than your competition. 1 year and $40,000 later I found that my gut was right. Common sense matters. Buy great ingredients and make products that deliver genuine value for customers. I have not looked back. Listening to advice and making business decisions is like making love: tricky to do the first time, fun and fulfilling most of the time but not something to get overconfident about anytime...

Thanks To: Aisha Bauer of eSutras Organics

19. Don't Cause Waves!

The Bad Entrepreneurial Advice I Ignored: "Be polite. Be patient. Don't rock the boat. Grab every client you can." This was advice that I got from a career guru when I first started out-polite and patient was ok, but pack'em in?- it was the worst advice for me! I am one to look at the big picture and then weigh my options. Sure, that client would be great(to help me pay my bills) but if there is conflict it is way too much for me to take the money and not respect the person.

Thanks To: Doula Angelita of ResurgamBirthingWell8899

20. Pack It All In

The Bad Entrepreneurial Advice I Ignored: I was young in my career & meeting with a fairly older, single woman. She was a successful venture capitalist. I don't know that I would consider her life successful. She traveled the world incessantly & was on every important board. But she seemed tired & joy was scarce. She told me to "Pack it All In."

I didn't. I kept my balance. I started a nonprofit & I did creative improv. I took care of my very young nephews & nieces. I loved life & I loved the people in my life.

Thanks To: Pamela Hawley of UniversalGiving

21. Waiting Is The #1 Mistake!

The Bad Entrepreneurial Advice I Ignored: I was told I wasn't ready to begin. More specifically, that I needed additional graduate school training before I'd be ready to begin my coaching career. And I was given that advice by successful authors in the field.rnrnI didn't follow that advice and the payoff includes having avoided 100's of thousands of dollars in student loan debt, avoiding the opportunity cost of WAITING to initiate, and I was able to start living my passion 5 years earlier!

Thanks To: Chris Dorris of Christopher Dorris

22. Don't Do All The Work Yourself

The Bad Entrepreneurial Advice I Ignored: The worst business advice I ever received was...

"If you want it done right, then do it yourself!"

1. I don't have enough time in a day to do everything myself.
2. My most successful products have been compilations of other people's ideas & stuff.
3. When you Joint Venture with others you get to use their lists too! That's HUGE leverage!
4. I don't need to be 'qualified', I can hire someone else who is!
5. I'm in business for myself so I can have time to enjoy

Thanks To: Amanda Van der Gulik of Teaching Children About Money

23. You Idea Won't Work

The Bad Entrepreneurial Advice I Ignored: I am sure every entrepreneur has heard this before, your idea won't work. At lot of the time these people may be right. If everybody listened to the next person who had an opinion I doubt their would be blackberry's, the ipod's or the Internet.

Thanks To: Marc Anderson of TalktoCanada.com

24. I Was Told To Pack Up And Quit

The Bad Entrepreneurial Advice I Ignored: I was told to pack up an quit. Result? Worked harder and smarter and had one of my very best years in sales, added more features to our web site and learned an enormous amount of information that we are now applying to grow even more. So, we applied a lot of advice and changes except the person that said we had to quit.

Thanks To: Edwin Soler of Libreria Berea

25. Opinion Is Not Fact

The Bad Entrepreneurial Advice I Ignored: Gathering information is very different from getting advise. If you are facing a business challenge that has you stumped, go to your "Pit Crew" experts in the field, your team of advisors, who can offer you the information you need to gain a fresh perspective to make the most ideal decision to drive the result you want.

Thanks To: Barbara Russo of Barbara Russo STRATEGICS

26. Faster Is Always Better!

The Bad Entrepreneurial Advice I Ignored: The worst advice I have gotten is that faster is always better. If you are going so fast that you are making critical errors it is NOT better to go faster. Businesses must grow at a pace that is sustainable! Learn to delegate effectively so that you can grow as fast as possible but only as fast as you can handle!

Thanks To: Sarah Cook of Raising CEO Kids

27. You Can't Change The World

The Bad Entrepreneurial Advice I Ignored: When I started brainstorming about iaam.com, few people said that I can't take such a huge task to change the world and I do not have the knowledge and experience. It was amazing to see people who had not taken any risk in their life advising me not to do it. I thought they were afraid to take risk so they would not fail.
I am so glad that I did not listen to them and went on working to build the company. I am proud to say what I have created is very unique, creative and useful.

Thanks To: Malini Hoover of www.iaam.com

28. Be Normal

The Bad Entrepreneurial Advice I Ignored: Many well meaning but ignorant people have told me to make my business just like everyone else. I have learned that going for the middle of the bell curve is a terrible way to do business for a small firm, and even worse, it destroyed what value I can add - a unique personality and feel.

As David Rendall of the Freak Factor says, your weakness is a key to your strengths - Focus on building strengths rather than try to fit into the crowd. Dave's advice works much better.

Thanks To: Joseph Joel Sherman of Business Tribes

29. Write A Business Plan!

The Bad Entrepreneurial Advice I Ignored: One of the worst pieces of advice that I and many other entrepreneurs have received is to write a business plan. This leftover of the dot-com era has somehow survived and is still being requested of entrepreneurs even though it shows no way or means of assessing whether or not the start-up will be successful. Entrepreneurs should be focusing on getting traction i.e. developing a prototype, talking to customers, getting references or letters of intent, not writing a business plan.

Thanks To: Gus Murray of Startup Company

30. Ask 10 Get 10 Opposite Answers

The Bad Entrepreneurial Advice I Ignored: The worst business advice I have received has always come from Attorneys. They tell you that you are right or can win until the money starts to become an issue.

I have found that they don't follow instructions you have to review all of their work to make sure that it was completed properly.

They use intimidation, complicate simple issues, and always operate by putting their interest (billing you) first before serving you and your interest. Never take their advice as gospel.

Thanks To: Jim Plouffe of www.BusinessConsultingThatWorks.com

31. You Can't Do That!

The Bad Entrepreneurial Advice I Ignored: A friend, a parent, a fellow business professional; they all have an opinion. It is worth noting that those opinions are rarely based on fact.
If I lived my life based on others opinions, I would not have my first company, or my 2nd, or 3rd. I would not have started living the tax deductible lifestyle and I wouldn't have purchased my first property.
Be diligent on challenging the status quo and be wary of the supposed "rules" that others vaguely reference when they say "you can't do it".

Thanks To: Aaron Jones of AJones Co.

32. I Can Teach You Everything

The Bad Entrepreneurial Advice I Ignored: When I was a real estate entrepreneur, I sought out some mentor/coaches to teach me. I found one who proceeded to show me the ropes. I asked about a particular strategy that I was learning from another expert. I was promptly told "I can teach you everything you need to know"

Wrong! Though I made money and learned a lot, I found he did not know everything and I missed out. Now I am learning from more than one expert on marketing and getting a well rounded education.

Thanks To: Gail Turner Brown of Small Business Network TV

33. Focus On Your Personal Ethics

The Bad Entrepreneurial Advice I Ignored: Four yrs. ago we were warned by EVERY screen printer we spoke to that we WOULD fail if we insisted on selling ONLY sweatshop free T's for our printing services and we should DEFINATELY not expect people to pay a little more for ECO Friendly fibers. 4 years later, we are proud to be the 1st studio in the U.S. who offer only ethically sourced and Eco friendly clothing now that our personal ethics have become the social norm and highly in demand! We ignored "the norm" and went with our heart!

Thanks To: Brenda Direen of American Canvas

34. Don't Have A Fancy Office

The Bad Entrepreneurial Advice I Ignored: When I started out, people told me I could never succeed without having a fancy office that people could visit and be impressed by. As a management consultant, I realized that people care about how I help them (and usually at their offices). Rarely has a client ever visited me. If I had invested in a fancy office, my profits would have been much smaller over the years and I would have had to charge clients more . . . making it harder to provide good value for my services.

Thanks To: Donald Mitchell of The 400 Year Project

35. Quit While You Are Ahead

The Bad Entrepreneurial Advice I Ignored: I was told by alot of people to quit while I was ahead. I use that as motivation and to keep going and realize that as long as I'm not ahead I have something else to strive for.

Thanks To: Derrick Hayes of WOE Enterprises

36. Takers Vs Givers

The Bad Entrepreneurial Advice I Ignored: Ever hear a pitch that sounds so good that it's too good to pass up ? Then you act on it to discover it's a disguise to have you buy more products than you really need ?
This happened when I looked for help to improve my sales skills. Soon after I signed up I was charged a hidden fee, was inundated with solicitations to upgrade my program, purchase CDs, attend seminars, etc. All the slick TALK turned out to be people who wanted to Take my money and Give to themselves.
BEWARE of Takers

Thanks To: Linda Nagamine of EZ Living Connection

37. Marketing Mania

The Bad Entrepreneurial Advice I Ignored: When I started my business, people told me that I needed to get a website, business cards, brochures, my car wrapped and all sorts of other marketing tools. I did my research, realized these things were expensive and I was on a tight budget. My husband found an inexpensive online tool and created our website himself. I bartered my services for a logo and business card design. I made my own flyers and went door to door marketing myself. The result: I grew just as fast if not faster then others.

Thanks To: Lydia Best of Everything and The Dog

38. Jump In And Swim!

The Bad Entrepreneurial Advice I Ignored: We had countless "business plan critics" basically advise us to perfect the business plan ad nauseaum! If we had listened to them, we would be in round 500 of our business plan with nothing to show for it.

While we are perfectionists, we learned that sometimes you have to just jump in and swim and stop taking lessons. Often the best experience is gained from doing and not following a textbook.

Thanks To: Deborah Munies of Vivique

39. The Corporate Ladder Crumbles

The Bad Entrepreneurial Advice I Ignored: The worst advice… Work your way up the Corporate Ladder. Put your head down, work hard, & you will be rewarded with promotions & leaps up the corporate ladder. Little did I know, the ladder was crumbling. Gone were the years where hard work bred loyalty & going the extra mile created career growth.

As a result, I learned to work smarter, not harder: to set specific goals about career growth & to ask for what I wanted and deserved! Mostly I learned to move on if alignment did not exist.

Thanks To: Cindy Hartigan of Spectra Learning Group

40. Don't Follow The Crowd

The Bad Entrepreneurial Advice I Ignored: The worst business advice I got was to initially go into large amounts of debt and over leverage myself in order to start my business. By not acting on this bad advice, I have been able to find effective and creative ways to grow my companies without getting into large amounts of debt. This leaves us with immense piece of mind that we are able to take care of ourselves without relying solely on other people, companies, and banks. When things got tough for business, we were not overleveraged.

Thanks To: Matt Shoup of Shoup Consulting

41. Stay Safe!

The Bad Entrepreneurial Advice I Ignored: For years I followed this advice and took positions that offered a decent salary and good insurance but very little excitement or opportunity for me to stretch my personal and professional limits. Break away from the pack, do what you truly enjoy, and work with people that inspire you. It won't always be an easy ride, but at the end of the day you will feel comfort in the fact that you are in control of your own destiny.

Thanks To: Bonnie Buol Ruszczyk of BBR Marketing

42. The Worst Business Advice..

The Bad Entrepreneurial Advice I Ignored: Someone said "Press releases are a waste of time." NOT TRUE!! Had I listened to this poor advice, I would have lost major opportunities to reach people that I may have missed with other techniques. The key to effective marketing is to be constantly visible to your target audience in a consistent manner. Press releases are an excellent tool for doing that very thing. Write informative articles that solve a problem or offer information that will provide convenience for your target market.

Thanks To: Dale Little of Business Strategist Group

43. Don't Go West, Young [wo]nab

The Bad Entrepreneurial Advice I Ignored: After telling a successful local businesswoman that I intended to head to Los Angeles to start my own company, I was advised not to. Not to move, not to risk, not to dream. "Stay here," she urged,
"where you have a good job, a good retirement plan, and a good life." Fortunately, I threw caution (and her advice) to the wind and founded the Center for Professional Development, which has sustained me for lo, these many years.

Thanks To: Marlene Caroselli of Principled Persuasion

44. Get Out You're Rockin The Boa

The Bad Entrepreneurial Advice I Ignored: Even though I can't remember who told me to just go along with management when I was a salesperson, I didn't listen. As an introvert I question a good deal. With this inquisitiveness and my self-confidence, I often find myself in an au contraire position. The results have always been positive: a newly created position for myself, a redesigned and easier billing system, even finding out that the accountant had a $10,000 incorrect expense posting. Rockin' the boat, with curiosity, can be great.

Thanks To: Patricia Weber of Business Coach for Introverts & Shy

45. 90%

The Bad Entrepreneurial Advice I Ignored: 90% of the advice you will receive starting out is bad advice that is given to you by people who have probably never started a business. If you have thought something through far enough to consider making it a reality, you have a distinct advantage over anyone who gives you an opinion five seconds after hearing your idea.

So do what you want to do. If it fails, at least you satisfied your itch and followed your heart. Nothing wrong with that.

Thanks To: Anthony Adams of The Hangover Cure

46. Find Your Niche, Sort Of.

The Bad Entrepreneurial Advice I Ignored: Several people told me to pick a niche industry to work in. I've watched design companies that only worked in the construction industry struggle to redefine themselves. I've seen ad agencies in the beverage industry suffer because they can't promote their work on their site because they do work for two competitors. While working in a niche makes you an expert in that industry it also makes you vulnerable to the short-comings of it. Be an expert in what you do, not who you do it for.

Thanks To: Tad Dobbs of Creative Squall

47. Spend Big To Make Big Money

The Bad Entrepreneurial Advice I Ignored: Someone once told me that you had to spend a lot of money to make a lot of money. I did not believe it then and my results as a businessperson over the past couple of decades bears out the fact that this was horrible advice. You can spend wisely, frugally in fact, and still quite well in growing your small business. Most of the "big spenders" that I know are, in fact, less successful than the careful spenders.

Thanks To: JR Rodrigues of Job Hunt Express

48. Get Your Name Out There (not!)

The Bad Entrepreneurial Advice I Ignored: If anyone gives you advice to "get your name out there to as many people as possible" RUN THE OTHER WAY - FAST! Absolutely the most effective business strategy is to NICHE and then go deep within that niche-not WIDE! You can not be everything to everyone-and your message, when broadly cast falls on mostly deaf ears. Not to mention it is outrageoulsy expensive and ineffective.Sure, Nike, McDonalds, & Microsoft have big budgets and market like that. But its not the strategy they used to get big!

Thanks To: Kimberlee Hayward of Brilliant Marketing!

49. There's No Business Here!

The Bad Entrepreneurial Advice I Ignored: When we moved our family and business back to Western New York from the Boston area, I had an introductory meeting with someone who had an ad agency here. She told me, "You made the biggest mistake of your life to move back. There is no business here." I was taken aback & didn't know how to respond, but needless to say we ignored it and became very involved in the local business community. Now some of our best clients and mentors are here - and I have yet to see that woman at a local biz even.

Thanks To: Karen Renzi of Beyondus Design & Marketing

50. Shut Your Ears!!!!!

The Bad Entrepreneurial Advice I Ignored: The worse advice I recieved was not to dream to big so if I failed I would not be disappointed. I was told to keep my dreams in line with reality. I was given all kind of excuses like the economy,amount of work and lack of experience. When you start a business you need to consider these factors but not be overly consumed with fear. The funny part is the advice usually comes from people who do not have the courage to get out of thier comfort zone and try to make it! SHUT YOUR EARS to this crap..

Thanks To: John Gonzalez of Preciosa Latin Grill

51. Good Advice Not Your Goal

The Bad Entrepreneurial Advice I Ignored: Best advice can be worst advice if it resets your goal schedule. I am a self-published author. The worst advice was given or suggested to me to wait and find a publisher for my niche. Hey, nice if you can get it!!!
When you are an unknown, it is very hard to get and very time consuming. I am not saying it would never happen, but I want the word and work to get out there now............................ a chance to help people now. Small press release and YAHOO!!! I am on radio.

Thanks To: Carolyn Bartz of WITH PEN IN HAND

52. The Timing Isn't Right!

The Bad Entrepreneurial Advice I Ignored: When I quit my job 20 years ago to start my own business, I had to deal with all those "basement" people in my life that said, "it's not the right time to start your own business". Of course, every business decision usually requires some sort of risk; but if you wait until all the stars are aligned, you will never do it. I was never one to listen to the naysayers. I march to the beat of a different drummer!

Thanks To: Suzanne Shaffer of Parents Countdown to College Coach

53. Ignore The Negative!

The Bad Entrepreneurial Advice I Ignored: I was excited about starting a new business and happened to bump into an acquaintance at dinner who was the first person I told about it.
He scowled and said it would never work and that other people had tried it before and failed...
His feedback was very depressing to me but I went ahead anyway and started the business (a dining guide). I ran it for 4 years before selling it and realized there are always people out there who will put a damper on any idea - and not to pay attention to them.

Thanks To: Gabrielle Yetter of The Brightside Group

54. Ignorance Is Bliss!

The Bad Entrepreneurial Advice I Ignored: The worst advice I ever got was. "You don't know enough to be in business. You are going to lose your home, savings and your husband will become so unhappy you will lose him too."

Had I listened, I would never have: met like-minded businesspeople, learned as much as I have the past few years, written my book, Nice Girls DO Get The Sale which sells worldwide, provided motivational talks for thousands of people, helped others achieve success, and never achieved this level of pride and happiness.

Thanks To: Elinor Stutz of Smooth Sale, LLC