The Best Advice for Starting a Business

The best business advice I ever received regarding starting a business was, “Don’t do it”. Statistically speaking, that is the most wise “advice”. Followed, it can save you untold amounts of money, time and heartache; simply because the vast majority of businesses fail. Why? Well frankly, because most people just give up when it gets hard (and it always gets hard).

“People do not fail, they just give up easily” ~ Elihu Root

Irregardless of skills and talent, people are generally one of two types of personalities in the business world, “Chandelier Swingers” or “Stones”. You have to figure out which you are, and which you want to be. And the good news is that the world needs BOTH!

Chandelier swingers are those fearless, swing for the fence types that are more comfortable going-for-broke… and they will likely get there (broke that is) at various points in their journey. But then they’ll keep swinging, and swinging and swinging. Because that is how they’re wired. And because of that, they are far better candidates to start up enterprises and businesses. Businesses require founders who can be fearless, undeterred by doubt, and able to keep swinging throughout. That is how success is ultimately won. And typically this is where the big financial rewards are found.

“Stones” on the other hand are risk-averse. They tend to play it safe and stay in their lane and comfort zone. This is the majority of personality types and in the business world, you need a lot of stones to build your business. They are the ones that show up day in and day out that you can count on. Solid, steady stones are invaluable and at the end of the day, they are the ones who “make the trains run on time”!

Every now and then, a stone will step out and want to try their hand at being a chandelier swinger; it rarely works out well, as statistics show. However, that doesn’t mean they can’t transform themselves into a  chandelier swinger over a period of time, but that kind of makeover can take years of internal work, self awareness and understanding.

As far as outside advice goes, take it in, hear it all, consider it all, but what is “good” advice for YOU is so personal to your experience, journey and current situation. Good advice might be really good, but it also may not be what YOU need right now. Frankly, the only good advice is the advice you give yourself after taking in all the other points of view, dwelling on it, and considering it against the “knowledge of self” that you have honed over the years through brutal self examination and self awareness.

That said, “Buy low sell high” is alway great advice under any circumstance!