52 Successful Entrepreneurs and Professionals Reveal Their #1 Piece of Advice for Starting A Business Today

I've gained acres of experience in my 2 years as an entrepreneur, and I will continue to learn and gain experience. No one. I repeat NO ONE, starts their business and has everything figured out. It just doesn't happen.

So in the interest of my continuing education in entrepreneurship I reached out to the people in my network on LinkedIn to get the #1 piece of advice they'd give for starting a business today.

I received great advice from all sorts of different professionals, business people and entrepreneurs. Below I share these advices.

Please share this with your network hopefully it can help them in their business endeavours.

Jacob Orosz - President at Morgan & Westfield -  LinkedIn Profile

1. Begin with an exit in mind. Create systems, establish processes, and hire competent employees.  
2. Don't just build a business - build relationships with your employees, clients, suppliers and everyone that you deal with on a daily basis.
3. Keep clean records all the time.  
4. Make yourself replaceable. This way, you can maximize your company's value and you won't end up leaving money on the table by the time you decide to exit from your business.

Jo Ferreday - Founder of Sheer Edge - LinkedIn Profile

1. Keep going, when it feels like you're not getting anywhere there is always a sign to prove you're doing the right thing.  
2. Make sure you have a plan from day one, not just your cash flow forecast but a plan of where you are aiming to be in years 1, 2, 3 and beyond.  
3. Keep your mind open to feedback. Always, always keep your customers at the heart of what you do.

Mike Johnson - Writer, Entrepreneur, Early retirement Expert - LinkedIn Profile

Don't start a business at all. Buy an already-existing, proven business or income property that pencil out with more monthly, passive income than your personal monthly bills. Now you're free of jobs and work schedules forever.

Mathias Maimann - Partner at Crunch IT ApS - LinkedIn Profile  

Partner up with people not like yourself. Partners with another life perspective, experience, even living in a whole other "reality" will cause conflicts.

Conflicts will cause arguments, counter-arguments, realizations, compromises, clever decisions and a strong result.

Phil Durrant - Simple DSEAR Compliance -  LinkedIn Profile  

1. Start as you mean to go on.
2. Build systems from day 1 so that as the business grows the systems help the business run when you're not there. Imagine you're going to franchise the business.
3. If going into business with a business partner, write down the basis of the relationship in terms of whom does what and % shares and reward etc.

Gaurang Gahoi -  Food and Beverage Professional - LinkedIn Profile

1. Learn Finance, Marketing and Operations before getting or diving into business. This will give you a great deal of confidence in knowing how to get the above three components right as they are key to success in any business.
2. It's easier to establish how to get help if you are not sure about those three components but before that, having knowledge of all at a level which helps you align your strategies will be great benefit. Don't try to do it yourself, find a business coach.

Emily Coltman - Chief Accountant  -  LinkedIn Profile

1. Get your books in order from Day -1. Every time you spend money on your business keep the receipt because it could save you tax!
2. Create a filing system to organize your papers.
3. Get a separate business bank account because it'll be so much easier to keep your business and personal finances apart if you do that.
4. Register your business with HMRC - and get yourself a good bookkeeping system and, 9 times out of 10, get yourself a good accountant and make sure they speak plain English!

Shelley Audra Ann - Automotive Specialist -  LinkedIn Profile

1. ROI (Return on Investment) is the focus! Get in the habit of asking for feedback on everything, from everyone.
2. Always test your theories, and never assume that any message will be interpreted the way you intend and so, always check-in for feedback.  
3. Assess and measure your results ALWAYS, i.e. response rates, closing ratio's etc.

Abdul Shakur - Co-Founder at Shakur & Sangany  -  LinkedIn Profile

Start simple and small.  I call it a 3 tier business model

1. A small low end membership option for your cash flow
2. Medium of up to ￡700 for your lifestyle and spending
3. High end service over 1k for investment and growth.

The low end is the key for your bread and butter.

Andrew Wellwood - General Manager at Wellwood Homes -  LinkedIn Profile

"What is the one thing you can do, that by doing it you make everything else easier or unnecessary" from the book “The One Thing”.

As a business owner you will be pulled in many directions. Keep this saying in your mind and follow it

Nathan Labbe - Opportunity Hunter  -  LinkedIn Profile

Sell it before you manufacture it.

"Build it and they will come" does NOT work. Pre-orders, prove concept, generate revenue before major capital is risked. If it flops, the risk is limited and you can move on to the next one. If it succeeds you're rolling.

Kim Boda - Entrepreneur/Business owner -  LinkedIn Profile  

Protect your mindset through Mindfulness...When you start having feelings of self-doubt around your new venture, remember the passion and elevated emotions of why you're doing it and keep going.

Marcelo Plata - Web Designer/Manager  -  LinkedIn Profile  

Write two pages pretending that you reached your goal and that you are having a day in the office so to speak. Do you like it? Can you write two pages? If yes, keep on going, you are on the right path so far.

Eric Finver - Co-Founder at Shakur & Sangany  -  LinkedIn Profile     

Navy Seal 40% rule, when you think you have nothing left in the tank, you have 40% reserve. So many give up when success is just around the corner. Don’t give up!

Michelle Cullison - Social Media Keynote speaker -  LinkedIn Profile  

To keep your client base growing, be sure to establish and execute a marketing, advertising, sales and follow up strategy.

Mary Pollock - COO at RCK Sinks – Inc.  – LinkedIn Profile

Have patience.  Nothing happens instantly, so have even more patience.

Jim Conaway - Analyst – Strategy -  LinkedIn Profile  

Know and understand depreciation as it relates to entity choice... it can come back to snap at you.

Michelle Diaz - Business Developer  -  LinkedIn Profile  

Have a clear, tangible goal and believe that you can achieve it.... see it, feel it and commit to it........work towards it, even through ups and downs... you can only fail if you give up.

Andrew Pain - HR & Business Manager  -  LinkedIn Profile  

Lifestyle is the key to success: get a partner with a job, shop at aldi/lidl, forget taking a holiday any time soon, sell your audi and buy a bike/skateboard, forget eating out - invest instead in baked beans - they will be your staple for the foreseeable future.

Nanja Van Rooy - Landscape Drafting & Design Specialist  -  LinkedIn Profile  

Never run out of cash. Cash flow dips can kill all your dreams.

Be mindful of what you need to survive, make sure you save for difficult times and never ever overspend. Keep the bigger picture in mind.

Brian Fjelde - Hjaelper dig med  -  LinkedIn Profile  

Take massive action!

Jane Naesby - Digital/Marcom/Business Development  -  LinkedIn Profile  

Find 1-2 sparring partners from your network to provide you with on-going feedback on your new business.

James Hermiston Owusu - VP of Marketing & Entrepreneurship Students Association (MESA)  -  LinkedIn Profile  

You don't need money to start a business but rather an idea.

Stephen J. Rosen - Network Marketing Professional  -  LinkedIn Profile  

The harder you work, the luckier you will get.

John Hardesty - Director of Sales  -  LinkedIn Profile  

White a business Plan, plan and when you are done plan more.  Don't forget the potential pitfalls section.

David Holland - Business & Executive Coach  -  LinkedIn Profile  

Focus on delivering value not profit - the second is simply a consequence of the first.

Darren Bayett - Founder/Abstract Artists  -  LinkedIn Profile  

Do not dare look through the prism ...the veils ...of yesterday obscurities, in order to set or to discern one's decisions or bearings for one's tomorrow.

Lori Boxer - Weight Loss Expert  -  LinkedIn Profile  

Don't be too proud to listen to others and accept help.  Despite what you think you know, you don't know everything.

Stephanie Zader - Savvy Investor -  LinkedIn Profile  

Success isn't something you wish for. Success is something you chase down with relentless pursuit.

Russell Davies - Senior Manager Business Controls -  LinkedIn Profile  

Build a team that you trust and can rely on 100%.

Katie Bauer - Talent Acquisition Professional - LinkedIn Profile  

Be mindful of overhead.  It can kill a business.

Julia Vassjutinski - Business English Trainer  -  LinkedIn Profile  

Success is the ability to go from one failure to another with no loss of enthusiasm”. W. Churchill.

Nicki Moller - Creating the Future -  LinkedIn Profile  

My advice would be to read The LEAN Startup by Eric Ries.

In other words, find the customers (target group), identify their problems, and create a solution they are willing to pay for.

Ira Veronica Ginting - Creativity -  LinkedIn Profile  

We cannot fake result and waiting for luck, we get result when we move. We create luck when we move.

Poul Jeritslev - Stressfrihed Co-creator  -  LinkedIn Profile  

Know yourself.

David Hamman - Finding solutions for people and businesses -  LinkedIn Profile  

It’s going to take longer than you think or plan. Carry on and don’t give up!

Sandip P. -  Digital Marketing Expert  -  LinkedIn Profile  

I think your own mindset is most important. Sometime you have to work alone instead of depending upon your team member. You need to take responsibility of every department in your company.

Qamar Zaman - Growth Hacker  -  LinkedIn Profile  

I read somewhere and would share, “Fail fast, fail forward”.

Nick Jaworski -  Social Media Marketer  -  LinkedIn Profile  

You need to spend the first few years investing your returns back into the business. Invest in your team, invest in marketing to grow, invest by outsourcing work you're not good at. Be prepared not to make much money those first few years until you've invested enough that returns become exponential.

Phil Gerbyshak - Digital Sales Trainer  -  LinkedIn Profile  

Make sure you are investing in yourself. You need to sharpen your ax often to stay ahead of your peers. Pick a topic or two and grow deep. Make time for quietness. Take a walk or ride your bike at least a few days a week. Don't be afraid to hire a coach to help you be accountable for the number one reason your business will succeed or fail - you.

Mike Cardus -  President at Organization Development  -  LinkedIn Profile  

You must sell something and repeat that. No selling = no business.

Esben Brandborg Osterby - Entrepreneur  -  LinkedIn Profile  

Create a rocket team. Without it; you won't be taken serious and you won't get that far either, not to talk about all the advantages of having someone to share the ups and downs with.

John Hannover - Independent Advisor   -  LinkedIn Profile  

Start something you know about. Don’t just start because it would be great to be a new designer. Start something you know a lot about and spend time on adding to that knowledge before you start. Far too much start on a starry ambition but without capabilities.

Anthony Murphy - CEO at AttentionMedia  -  LinkedIn Profile  

From a marketing perspective: Storytelling authenticity and with included value in the right places and on platforms is key to effective marketing in today's world and moving forward.

Carl Peterson - Director of Education  -  LinkedIn Profile  

Education.

Sagar Pandit - Entrepreneur & CEO  -  LinkedIn Profile  

Your business is your Aim/dream; self-chosen way to lead your own life, therefore take the decisions that aligns your vision and makes you happier inside. Neither get influenced with short term profits nor scared with loss.

David Khoshpasand - Marketing Director  -  LinkedIn Profile  

The cost of not pursuing your idea is higher than actually seeing it through. Manage your risk tolerance and roll the dice. All it takes is one idea to maximize return on all your past and present efforts.  Once you realize that, become the excellence of execution.  It's ALL about execution.

Vivek Nair - Startup & SMB Digital Marketer  -  LinkedIn Profile  

Get into it for the RIGHT reasons.

Leif  Carlsen - Motivational Speaker  -  LinkedIn Profile  

Make sure that your "business platform" works i.e. business plan, marketing strategy, website and social media channels. This should be your very first MVP. Knowing what I know now, I would make sure that the platform is there so you can start using your time and energy on customers and products.

Tom Frank Christensen - Master’s degree at Selfmade  -  LinkedIn Profile  

Set hard to reach goals and many sub goals to reach the main. Also just do it, start whatever you want and fight your ass off to succeed.

Matt Doll - CEO – American Fireglass  -  LinkedIn Profile  

"Don't look for cheap help that you think you can train. Hire someone you can't afford, get out of the way and let them grow your vision. It will work I promise".

Nick Tamble - Founder at Lawn and Landscape Gardens Ltd  -  LinkedIn Profile  

Early on, articulate the big reason why you are doing what you are doing and appreciate those who support your vision!

Conclusion:

If you've made it this far, you have digested a truck load of advice.  Now, while everyone had a different advice, there were some underlying truths that are worth highlighting:

• Begin with an exit in mind.  Create systems, establish processes, and hire competent employees
• Invest in your team, invest in marketing, and invest by outsourcing work you're not good at.  
• Have a plan of where you want to be in 1, 2 or 3 years and beyond.
• Get a separate business bank account
• Register your business
• Establish a marketing, advertising, sales and follow up strategy
• Have a clear, tangible goal and believe that you can achieve it
• Find the customers, identify their problems and create a solution they are willing to pay for.
• Measure your results always
• Don't quit

I want to express my gratitude to the entrepreneurs and professionals who took time out to provide valuable advice on how to start a business.  I know that your advice will benefit everyone that reads it.

Now, over to you…

What is your no.1 advice for anyone planning to start a business today? Write it in the comment section below.

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