Single Best Piece of Business Advice You've Received?

[CaptainSlow]

Buy high, sell low.

eta

Sorry wrong way round. Sell low, buy high.

[jjones]

Dave_ST220 said:

My old boss asked me to read that book in return for a pay rise. I told him to stick his job and started on my own, I haven't looked back since. The book is obviously st otherwise he would have used the bullst in it to persuade me to read it not tell him to poke his job.

well warren buffet swears by it, in fact in a documentary on the guy the only certificate on his office wall was from the carniege institude.

it is well worth a read, as the op points out you can tell people who have and put it into practice.

oh and for advice

don't sweat the small stuff

[sjc]

From my Mum, on the day I set up on my own 23 years ago.
"Never put off until tomorrow, what you can do today".

[iphonedyou]

This thread makes me cringe.

I know it's not in the spririt of the thread, and sorry for that - but it does.

[singlecoil]

I would have to say that there is plenty of 'sayings' but very little USABLE advice.

[ph123]

Understand EVERYTHING Tom Peters speaks & writes.
He is so ANGRY at the lack of common sense (in business).

oh, and don't take everything, particularly yourself, so seriously ...

[Rude-boy]

singlecoil said:

I would have to say that there is plenty of 'sayings' but very little USABLE advice.

They are mainly just a load of old sayings. If that is all you take them as. Think about them, and put meaning behind them into practice and they can pay dividends.

Sometimes ‘sayings’ can make sure that you stay focused. I was told was the old “Act in haste, repent at leisure” one and it is something I hear at the back of my head every so often when it’s 18:30, I’m fed up and want to go home to the fiancée, and have a lease I have to go through. It is tempting to wiz through it knowing that you have seen a lease from the fee earner and firm before and know that it would be bang on but the day you assume and just skip through to make sure the transaction specific bits are in order could be one you rue for the rest of your career.

Ignore them and I am sure you business will still be a great success, some on the other hand, will benefit from them.

[williamp]

I learnt everything from watching these two business pros:

http://www.youtube.com/watch?v=Y7o8FbGCR9U


(admittedly I am finishing my business plan to start my own business, so this thread is good stuff. Thanks)

[singlecoil]

Rude-boy said:

singlecoil said:

I would have to say that there is plenty of 'sayings' but very little USABLE advice.

They are mainly just a load of old sayings. If that is all you take them as. Think about them, and put meaning behind them into practice and they can pay dividends.

I note what you say, but most of the 'sayings' are indeed just that, and don't actually consitute useful advice unless one takes the saying as a starting point and, in effect, creats one's own advice.

Take for example the "never put off til tomorrow what you can do today". It sounds good but in practice is of virtually no help. Anyone running a business is, usually, going to be short of time. Of course he will have to put some things off til tomorrow, not because he will be going home early, but because he will be doing something else.

If sayings were of any use at all most books on business could be condensed to a single page, a couple of dozens sayings should be more than enough.

I'll start it off

1) make sure more money comes in than goes out.

[Mr Overheads]

singlecoil said:

steveatesh said:

You make your own luck.

How do you do that then? I presume by changing the definition of one or more of the words?

For example, if I don't attend a networking event I might not meet the next person that will refer me to my next client. if I pick netwworking events carefully I increase my chances of meeting the right person, but still need luck for the relevant people I need to meet to also turn up.

[steeveeboy]

Have a smokin' hot secretary for those days of boredom in the office,
That was my dad telling me that so I hired the missus and now she's pregnant! Slow days in the office

[steeveeboy]

Edited for repost.

Edited by steeveeboy on Friday 16th September 13:18

[singlecoil]

Mr Overheads said:

singlecoil said:

steveatesh said:

You make your own luck.

How do you do that then? I presume by changing the definition of one or more of the words?

For example, if I don't attend a networking event I might not meet the next person that will refer me to my next client. if I pick netwworking events carefully I increase my chances of meeting the right person, but still need luck for the relevant people I need to meet to also turn up.

So you are agreeing with me, then?

[Audicab]

One that I didn't listen to and have really suffered because of it

If you're going to fail, fail fast and fail cheap.

[KrazyIvan]

For actual advice, my dad said to me before I took my driving tests (pratical and theroy)

"Work out what the safest thing to do is and do that"

I passed both on my 1st try.

And for life my grandad said

"No one has ever looked back on their death bed and wished they had worked some more"

I am also currently telling my 6 year old son to be friendly to the girls at his school, in the vein chance he wont be as st scared of them in his teenage years as I was.

[samrr]

From someone here on PH which I wish I listened to.

When you have worked out the number of plug sockets and network sockets you need in your new office....

Double it.

[ph123]

The one thing worse than failure.
Not trying.

[londonagent]

Phones don't ring themselves.
Don't sit and wait for business to come to you, be procactive.

[birdcage]

That art of good business is being a good middleman

[sjc]

singlecoil said:

Rude-boy said:

singlecoil said:

I would have to say that there is plenty of 'sayings' but very little USABLE advice.

They are mainly just a load of old sayings. If that is all you take them as. Think about them, and put meaning behind them into practice and they can pay dividends.

I note what you say, but most of the 'sayings' are indeed just that, and don't actually consitute useful advice unless one takes the saying as a starting point and, in effect, creats one's own advice.

Take for example the "never put off til tomorrow what you can do today". It sounds good but in practice is of virtually no help. Anyone running a business is, usually, going to be short of time. Of course he will have to put some things off til tomorrow, not because he will be going home early, but because he will be doing something else.

The saying you used as an example was mine.How odd that you think it is "of virtually no help",you've used a straightforward piece of advice and turned it into something way more complicated.
That very ethic I put in place from day one has meant in an ever more competitive market over 23 years we still have, as a large account, the client who gave us our very first order.That 23 years is littered with customer service awards, and yet we've never put ourselves forward for one.I've no doubt one of the reasons is other potential suppliers DO put off that phone call/quote/thankyou/loose end until tomorrow.
Still what do I know,when I turn into my drive, I must remind myself I was wrong to follow the advice which was of virtually no help.