The Best Business Advice I Ever Received

I have listened to so many successful businessmen and leaders around the world. I have about five of them as my mentor and coach.

The one thing they all have in common is "Time Management", they do not play with it. Every second count.

But that is not what I'm going to talk about. I am talking about the best business ideas I've gotten from them.

1. Be quick but be careful: Sometimes you think you've seen the big picture and then decide to jump in and get it executed, forgetting that a lot more is needed to get you up to speed. You need to do more of planning so as to get balance ones you start. Lack of proper planning, keep you out of business.

2. You have to love it: If you don't love what you do, you can never grow in it. Many people are into the business they dread all because they just want to put food on the table. You are wasting your time and that of others. Do business that you love and in the midst of adversity, you'll find a way around it and save your business.

3. Never underestimate your competitors: Know this; "Winners contribute to the peak performance and personal growth of all competitors. They are comfortable going for the throat in competition. They don't give up. They delight in going for the chase". Always have at the back of your mind that no great business thrive without competition.

4. Be tough and be Resolute: You are in-charge of your business and whatever needs to be done, that's your responsibility. Never allow employees or outsiders to grind you down.

5. Form your own opinion: Every decision about your business is yours to make. Don't get me wrong! You have to listen to other people's input but at the end their opinions are only suggestions. The final decision comes from you. Remember, your competitors will hire your employees when you go out of business. They have nothing to lose.

6. Focus on the present first: This is where a lot of people get wrong most of the time. They tend to focus on the future while neglecting the present situation. It's a terrible business policy. You have to know that the present points to the future. Take care of the present conditions first while you look towards the future.

7. A penny saved is a penny saved: No amount is too small or too big for you to save. Why are you wasting that N5 because you feel it cannot buy anything in the market? "little drops of water make a mighty ocean". Save whatever is your profit for further investments.

8. Share the business advice you ever received to help save someone's failing business.