A List of the Worst Business Tips You Can Follow – Ever

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There are lots of tips on how to start and run a business. But all is not good. In fact, some common sayings are among the worst business advice. The following includes some of the worst trading tips you can follow.



Worst Business Tips

Do what you like

While it might sound like a good idea, this popular saying is widely regarded as one of the worst business advice. Just because you enjoy doing something doesn’t mean that others will find it useful or necessary. And if no one is buying what you are selling, then doing what you love will get you nowhere.

If you build it they will come

Likewise, just creating an offer doesn’t mean you’ll actually attract customers. This saying implies that if you get down to business, there are customers who will support your business. But if you don’t do the research and find a market for your product or service, you could very well find yourself in a rude awakening.

The customer is always right

This popular saying is meant to encourage business owners and employees to work hard to keep customers happy. And while customers and their opinions are usually important to business success, they’re not always right. If you constantly give discounts or change your offers every time a customer makes a request, you could be damaging your brand and your bottom line.

Never turn down a paying customer

Likewise, you shouldn’t assume that every customer you get will help your business. Particularly if you have a consulting business or provide some other service where it may be necessary for you to work with someone for the long haul, it may very well be in your best interest to only accept a very select few clients.

Don’t quit your day job

This is one of the worst pieces of business advice because there is no right path for every entrepreneur. If you are just starting out, it may well be in your best interest to keep your full-time job while starting a business. But then again, you might be better off quitting and devoting all of your time and effort to your new business. When it comes to making that decision, every entrepreneur should decide based on their own circumstances and not listen to a single single recommendation.

Stay away from established markets

Some experts claim that in order to start a successful business you have to find a whole new niche or a huge gap in the market. But this is not always true. You can start a business in an established market as long as you have at least one little thing that customers will appreciate to make you stand out.

If you want something done right, you have to do it yourself

Too many business owners try to do it all on their own because they have a hard time trusting someone else with their business. But the point is, there are experts and great potential employees out there who can help you do things better than you could on your own.

It all depends on who you know

Personal relationships can certainly come in handy when it comes to running a successful business. But putting such importance on them can discourage some people who are not well connected from starting businesses. You can always create links as you go.

Stick to your plan

A business plan is a useful tool. But it shouldn’t be the ultimate, enduring guide for your business. Sometimes things change and you should be able to adapt your plan to those changes.

Follow an established path to success

Some experts believe that there is only one or two ways to be successful in the business world. But innovative young entrepreneurs are making their own way every day. So don’t let anyone tell you that there is a path you MUST take to be successful.

Separate your professional and personal life

While there may be some merit in this advice in certain situations, it is no longer a hard and fast rule. Some small businesses actually thrive because the owner or team shares their personality with customers. You don’t need to broadcast all of your personal dramas on social media. But being a little open and friendly with your customers can be a good thing.

All attention is good attention

Getting attention to your business, especially early on, can be difficult. So when you get any kind of attention or press it can seem like a good thing. But if that attention doesn’t align with your brand and the image you want to convey, it could do more harm than good.

Hire the most experienced people

Experience can be a really good quality when looking to build your team. But that shouldn’t be the only quality you’re looking for. Finding people who are enthusiastic, talented, creative, and who share your vision for your business can be just as important, if not more.

Offer the lowest prices

Many new businesses fall into the trap of trying to differentiate themselves from the competition by offering the lowest prices. But this is not always sustainable depending on your costs and your business model. And it could damage your reputation in the future.

Work hard and success will come

Hard work is certainly important when it comes to running a successful business. But that’s not the only thing that matters. Don’t think that just because you put in long hours and do your best, success will eventually happen. Sometimes it is more important to “work smart” than to work hard. Ultimately, the results you get are what matters.

Don’t try new things

If you’ve found a thing or two that works in your business, it may seem like a safe bet to stick with what works. But that will not allow your business to grow as quickly as you would like. Trying new things can be risky, but it can also be rewarding.

Never say no

Saying no to new customers, partnerships, or opportunities can seem like a bad business strategy. But if you say yes to everything, you could be spreading too thinly or taking your business in too many different directions. You have to be very intentional when making these decisions to be sure that they will benefit your business in the long run.

You have to spend money to make money

This may be true in certain circumstances. But you shouldn’t fall into the trap of thinking that making big investments in new equipment, people, training, or other resources will magically improve your business. You have to be smart about how you spend. Additionally, many entrepreneurs have built very successful businesses with very little or no resources.

Never stop working

You have to work hard to run a successful business. But you also need to find a balance or else you’ll burn yourself out and find yourself uninspired to run your business successfully. The risk of burnout is one reason why work-life balance is an absolute must.

To give up

Not all businesses are successful. In fact, most don’t. But it’s still one of the worst business advice you can ever get. It’s never up to someone else to give up or not. If this is a decision you must make, it must be based on more than outside opinions. Never let others decide when it’s time to throw in the towel.

What is the worst business advice you’ve ever heard?

Bad Advice Photo via Shutterstock



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