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What’s Been The Best Business Advice You’ve Received!

Yesterday on Twitter, Daymond Johns, of Shark Tank fame, asked his followers for the best business advice they had received when starting out.

Now, it’s been 12 years since I started my business, so you may think I would have forgotten it. But, NO.

The reason?

I didn’t listen to it.

In 2008, when I started Ball of Fire Inc., a colleague shared with me a lot of his own entrepreneurial journey, formed as business advice, such as:

  • Don’t chase the shiny penny!
  • You’ll get out of it what you put into it.
  • Not all money is good money.

And, the most profound piece of advice was – If it’s seems too good to be true, it probably is.

Now, he may not have coined those wise statements himself, but his sharing of them meant a great deal to me. I just wish I had followed that last point.

Because, one year later, I fell for a sales pitch that landed up costing me $750.

But, it wasn’t the bank account that took a hit. It was my confidence and ego. As a new business owner, the last thing I needed was to start doubting myself.

Can you relate?

I had always considered myself a smart, savvy business woman. Afterall, I successfully climbed the corporate ladder into some pretty big shoes. I would know how to spot a scammer, right?

So, I used those smarts and did all of the due diligence you can imagine on the man, his company and the product he was pitching. But, in just hours after giving him the money (a partial payment), he and the money were no where to be found.

Oh, I can’t tell you how long I beat myself up over that. Playing in my mind, over and over, every conversation looking for the red flags. But, I couldn’t find them.

Then I recalled my colleague’s advice – ‘If it seems too good to be true, it probably is.’

Days later, when I calmly and clearly evaluated what the guy was offering against what he was charging… it became clear, that was the red flag.

Everything else he put into place; the company name, website, and content, was beautifully set up to scam just about anyone. I needed to look even closer, to the actual offer he was making.

More importantly, I needed to use my gut and intuition.

I had to admit it; it did feel to good to be true. But, I choose to push that aside because it was such a great offer, and as a new entrepreneur, any opportunity to save money was paramount.

So, I thought.

One huge benefit came out of that experience, or scam. It happened in my first year of business, so it set me up with a knowing that would prevent me from making the same mistake, even twice. Since then, I have learned to use and trust my gut and intuition, and to know definitively, ‘if it seems too good to be true, it probably is.’

What’ s the best business advice your have been given. LEAVE YOUR COMMENT BELOW.

 

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