Why CEOs should heed the advice of those who have already made it

July 29, 2022

CEOs who've made it

One of the adages as old as time dictates that if you want a professional job done, you should hire a professional to do it. The same logic should apply when seeking out words of wisdom that could help your business career – you should only seek those that have been there, done that and got the multi-million-dollar valuations to prove it.

Because if you’re taking bad business advice into consideration, you can hardly expect to improve your own standing, right?

We live in an information age, and there’s never been a better time to slip inside the minds of CEOs and glean some golden nuggets of information. There’s stacks of interviews with business leaders available in print and podcast form that will provide outstanding insight, and whether you want a generalist guide to corporate success or something specific to your particular niche, you are sure to find it on the world wide web.

Of course, there is a general consensus among successful business figures about best practice in the business world, and this analysis is as relevant to entrepreneurs unveiling their first startup as it is to grizzled veterans seeking a shake-up of how they go about things.

3 tips from experienced entrepreneurs

As a starting point, here’s some common tips and pointers that business leaders give to those wise enough to listen:

Plan, analyze, repeat

Without a solid foundation, all buildings would crumble to the ground, and it’s an apt metaphor to describe the hopes and dreams of entrepreneurs and aspiring business owners too.

You must have a clear and concise business plan, which maps out what you will achieve in the first year of operation and then in timeframes subsequent to that. You must be decisive: what will you do, when will you do it, how will you do it? If you’re asking: ‘Why am I doing it?’, then maybe this isn’t the right business model for you.

You shouldn’t just file your business plan away in a drawer or a hidden folder on your desktop either. Refer back to it regularly to help focus your mind and analyze if you are on the right path to answering those questions your plan sets out.

The problem solver

If you are an entrepreneur brainstorming ideas about your next project, most business leaders will offer you the same advice: come up with something that solves a problem for a customer, be it for consumers or other companies.

If you have already launched your startup, ask yourself what problem does your existing business or product solve? How is your product or service better from the competitors on the market?

Once you have your answer, this should be the focus of your marketing and promotional efforts. It is the hook and the unique selling point you must make the most of.

The customer is always right

The customer always comes first – with your staff a close second. Make sure that you take care of your customers, ask them questions and do you best to provide top notch service to them. 

It’s common sense really, but the best CEOs in the business world have built their success around treating people well, ensuring their needs are met and concerns listened to. You most loyal customers can become a huge part of your makreting campaign as they most likely promote your business to their circle.

All companies revolve around their people, and it is via these individuals that money is made. The smartest business leaders are tuned in to this very basic starting point. Take care people of your customers and the profit will follow.

Conclusion

Taking advice from people who already have walked the walk in business is extremely important as it can save you from going down the wrong path. Without a doubt, there are many benefits that come with running a business but remember that sometimes its not a sign of weakness to ask for help when you are stuck. Follow successful CEOs on social media and try to understand how they deal with all the challenges that come with running a business.

More must-read stories from Enterprise League:

  • Learn how your business can survive a recession with this business guide. You should start applying it now.

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