What is the best business advise that someone every gave you and you found it useful? Which area of your business did you apply it?
In every income I generate for myself,I should always try to save something or about 10%
From the richest man in Babylon
Alwàys make sure there’s cashflow from Nelly Agbogbu
As a business owner or entrepreneur, we are constantly bombarded with advice from friends, family, and even strangers on how to run our businesses. With so much information and opinions out there, it can be overwhelming to filter through and determine what is truly valuable advice. However, there is one piece of advice that stands out above all others and has had a profound impact on my business journey – “Focus on your strengths and delegate your weaknesses.”
This simple yet powerful piece of advice was given to me by a successful entrepreneur who had built and sold multiple businesses. At the time, I was struggling to juggle all aspects of my business – from marketing and sales to finances and operations. I was convinced that I had to do everything myself in order to ensure it was done correctly and to save money. However, this left me feeling burnt out and stretched thin, and my business was not seeing the growth I had hoped for.
Upon receiving this advice, it was like a light bulb went off in my head. I realized that I was trying to be a jack-of-all-trades, but in reality, I was only average at most of them. I had to accept that I couldn’t do it all and that it was okay to ask for help. I started by identifying my strengths and weaknesses and then began delegating tasks that were outside of my skill set.
I quickly noticed a significant improvement in my business. By focusing on my strengths, I was able to excel in areas such as product development and customer service, which resulted in increased customer satisfaction and loyalty. I also had more time and energy to dedicate to growing my business and exploring new opportunities.
Delegating tasks that I was not skilled at or passionate about also had a positive impact. I was able to hire employees or outsource to experts, which not only freed up my time but also brought in fresh perspectives and ideas to my business. This not only improved the quality of work being produced but also allowed me to learn from others and improve my own skills.
But perhaps the most significant impact of following this advice was the reduction of stress and burnout. As entrepreneurs, we often feel the need to be in control of every aspect of our business. However, trying to do it all can lead to exhaustion and even affect our mental and physical health. By delegating and focusing on my strengths, I was able to have a better work-life balance, which ultimately made me a happier and more productive business owner.
Now, whenever I am faced with a new challenge or task, I always remind myself of this advice. I take a step back and evaluate if it aligns with my strengths and if not, I delegate or outsource it. This has not only helped my business grow but also allowed me to develop new skills and knowledge in areas that I am passionate about.
In conclusion, the best business advice I ever received was to focus on my strengths and delegate my weaknesses. This has not only helped me grow my business but also improved my overall well-being. As entrepreneurs, it is essential to remember that we do not have to do everything ourselves and that asking for help is not a sign of weakness. By playing to our strengths and surrounding ourselves with a team of talented individuals, we can achieve success and fulfillment in our business ventures.
This is insightful @Ikenna Dike