Being an entrepreneur doesn't mean you have to go it alone. Most successful business owners will tell you they could not have accomplished their goals without help--from a mentor, colleague, even mom and dad. For many, their ability to evaluate, internalize and act on the counsel they received was instrumental in getting their companies off the ground.
In an effort to tap some of this wisdom, we called on business gurus to tell us the very best piece of advice they've received. From hiring to philanthropy and more, their responses were as varied as the companies they run.
Rick Alden, founder, Skullcandy
The way Rick Alden sees it, coming up with ideas is never a problem for a creative team. Instead, he says, the challenge is learning to say no to nine great ideas to free up the resources necessary to push one product to market immediately.
"That one product may not be your fantasy, but revenue on a simpler product today always beats running out of money developing a more complicated product that won't launch for another year," he says.
The founder of several snowboard companies, Alden collected this advice from Guy Kawasaki's The Art of the Start, a book he says crystallized many of his long-held observations about how startups work. "An entrepreneur's life is entirely dictated by the questions How much? How fast? and At what margin?" Alden says. "Everything else is secondary."
Christine Day, CEO, Luvo
Christine Day considers herself a doer--it's what drove her to develop Vancouver, British Columbia-based lululemon athletica into an international juggernaut before she left to lead healthful-lifestyle food brand Luvo in early 2014. Earlier in her career, while heading up the Asia-Pacific division at Starbucks, she heard CEO Howard Schultz explain why he does not rely on market research for innovation. It changed her perspective forever.
"There is no evidence for what has not been created yet; only insight, purpose, passion and a willingness to move into what could be instead of what is," she says. "Truly innovative companies are not afraid to let go and create the next market shift."
Diane Bryant, senior vice president and GM, Data Center Group, Intel
Just because you've been around the block doesn't mean you can't grow as a professional. This is the gist of the advice former Intel CEO Paul Otellini gave to Diane Bryant when she served as chief information officer earlier in her career.
"The better you understand your customer, the higher the probability of success," she says. "As CIO, I was tasked with translating Intel's products and technologies into business and productivity benefits--top-line and bottom-line results for the corporation. Now I know firsthand what works and what doesn't."
Rehan Choudhry, founder, Life is Beautiful
It took Rehan Choudhry years to get the courage to leave his hospitality-industry job to start Life is Beautiful, a Las Vegas-based festival that features music, food, learning and art. This advice from a mentor provided the final push he needed.
"What makes an entrepreneur is not knowing everything about business, but rather being passionate and fearless," Choudhry says. "There's no 'right time' to take the leap; you can take it at any point in your life, and should."
He says this perspective has prevented him from overthinking every decision or opportunity that comes his way, leaving him more focused and nimble.
Thanks : http://www.entrepreneur.com/