Entrepreneurship is learnt from hands-on experience, and there is hardly any coaching available for the top job. The path to success is filled with hurdles and roadblocks, which have to be tackled with acumen and shrewdness. From Bill Gates to Steve Jobs and Jeff Bezos, the determined and passionate people who overcame these challenges have become a part of business legends.
Their success stories serve as an inspiration for one and all and boost the confidence of the young guns planning to carve a niche in the markets. The budding entrepreneurs looking for profitable business opportunities in Brisbane or any other region of Australia, have a lot to gain from the advice offered by the veterans who have become game-changers in their industry.
So here is a list of the best business advice provided by the most charismatic business owners from across the world. These lessons can make you follow your goals with renewed perseverance and valuable guidance. Let us take a look at what they have to say.
1. Keep Moving and Learning - Mark Zuckerberg, Co-Founder of Facebook
Mark Zuckerberg has many feathers in his hat, including becoming the youngest self-made billionaire in 2007. He has profound advice for entrepreneurs, which suggests moving fast and making mistakes. According to Zuckerberg, the most common mistake made by businesses is that they are not ready to go all out. They move at snail’s pace in order to be thorough.
He emphasises on seizing the opportunity and taking risks even if it leads to failures as they aid in learning from your mistakes. In his letter to the stakeholders at Facebook, he recommended moving quickly to build things rapidly and learn early.
2. Keep The Prices Low - Warren Buffet, Chairman and CEO of Berkshire Hathway
Consistently ranked among the wealthiest people in the world, Warren Buffet has the most prudent business advice for novices. He recommends keeping the costs low while running a business. According to him, if the cost of operations is low, it automatically translates into lower prices. It aids in attracting customers and policyholders who further promote the brand through word of mouth publicity. Thus the success and high sales lead to massive savings during acquisitions and further reduce the prices.
3. Follow Your Passion – Richard Branson, Founder Virgin Group
According to the British business magnate, entrepreneurs cannot succeed until they love their work and feel excited to do it every day. He believes that people who are passionate about their work enjoy their life to the maximum and take risks to follow their dreams at any cost. Thus you must be fully committed to your business objectives and go above and beyond to achieve them. The fire in your heart and zeal to excel will bring the desired success.
4. Find Solutions - Henry Ford, Founder Ford Motor Company
The person responsible for manufacturing affordable automobiles and redefining the auto industry in the 20th century gave a brilliant piece of advice. He suggested looking for remedies rather than finding faults. His instruction paved the way for the immense success of his business empire as he made his teams ready for finding the solutions instead of fussing over the challenges and complaining about them.
5. Invest In Your Business – Carlos Slim Helu, CEO of Telmex, América Móvil, and Grupo Carso
The Mexican business mogul was the richest man in the world from 2010 to 2013. He has some far-sighted business advice for young entrepreneurs. As per Helu, entrepreneurs should keep investing in their businesses. He states that the company is the biggest asset of the owner, and thus, he must keep investing in it to expand and develop it further.
He stresses on creating better products and processes and reinvesting the profits to achieve long-term success. Also, create a business emergency fund to ensure savings for the future and challenges like a financial crisis.
6. Never Give Up – Jack Ma, Co-Founder and Executive Chairman of Alibaba Group
It is common knowledge that the highly successful Chinese business tycoon had to face several rejections and failures in the initial phase of his career. However, he owes his success to his determination of moving forward and never backing down. According to him, an entrepreneur should never lose hope even if the times are tough and distressing.
He affirms that if today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine. So don’t feel dejected and strive to achieve your goals with unflinching dedication.
7. Follow A Customer-Centric Approach - Jeff Bezos, Founder of Amazon and Blue Origin
Ranked the richest man in the world in 2018, Jeff Bezos is a leading internet entrepreneur who began his online bookstore business from his garage. The e-commerce giant, Amazon is making its presence felt in several countries across the globe and is known for its impeccable customer service.
According to Bezos, the key to success is to focus on the customers and its Amazon’s goal to become the most customer-centric company. Thus if you put the aspirations of the customers at the forefront, you will definitely achieve success.
8. Total Quality Management – Steve Jobs, Co-Founder, Chairman and CEO of Apple Inc.
Just the brand name Apple is enough to give an insight into the astounding work of Steve Jobs who was a pioneer of the personal computer revolution and is responsible for the birth of Macintosh, iPad, iPhone and iPod. The inspiring leader was always concerned about delivering high-quality to his consumers.
He maintained that quality was superior to quantity. If you offer a better product to your audience, they will pick it up over the others without a doubt.
9. Value Your Employees – Larry Page, Co-Founder Google
One of the biggest technology company Google is well-known for the best work culture. Its CEO Larry Page has significant advice for entrepreneurs in this regard. He says that companies should make their employees feel important and a valuable part of the entity. He stresses that a company should become a family to its people.
Page recommends that the entrepreneur must understand the needs and challenges of his employees and set individual goals to help them make progress and grow with the company. He says that when everyone is happy, they can achieve great things.
10. Time Is Of Essence – Bill Gates, Co-Founder of Microsoft
According to the most famous entrepreneur in the world, Bill Gates, time is a valuable resource, and it should not be wasted. He says that even if you have huge amounts of money, you cannot buy time. Thus make sure you are not wasting it on redundant pursuits. Cut down on the tasks which are not productive and derive ways of saving time in daily activities.
When you are looking for businesses for sale in Australia, these tips can come handy in making the way forward smooth and less strenuous. So pay heed to the advice offered by the industry veterans to accomplish your goals and run a successful company.