Why Listening to Advice Will Make You a Better Entrepreneur
We all like to think were experts on something. Maybe you are really good at something, and there is nothing wrong with admitting that.
But here’s the problem.
Let’s use stocks as an example. Even if you are the best trader, you sit down and shut up if Warren Buffett comes in and explains to you why you should invest in a specific company.
This same rule applies to entrepreneurship too. If someone more experienced or successful tries to offer you advice, take it.
I knew this guy…
He was your typical 9 to 5 worker. He worked hard, made a decent living, and scoffed at me when I first went all in and started A Nerd’s World.
Years later, he approached me and told me that he admired my hard work and where it got me. Out of nowhere, he asked me to have lunch for him.
During lunch, he told me that he started his own side-gig doing passport photos out of his house that was located at two major intersections. Yet, he was asking me for advice on how to scale his business and earn more.
Alright, I thought – here’s what you need to do.
I told him that he needed to expand into other sections of photography because of how infrequent a person needs passport photos. We drew up a list of ideas and I told him that LinkedIn headshots were his best bet.
Now look, we currently offer this service at A Nerd’s World, so I know how much demand there is for them and how profitable they are.
Guess what he said?
He said no. You read that right. He told me that he didn’t like the idea of LinkedIn photos and that he would continue to just do passport photos.
What You Should Take Away from This
Many people would pay a lot of money to have a successful mentor offer them advice in business.
Ty Lopez once told a story about a CEO who brought in a world poker star to teach his staff how to play poker for an upcoming teambuilding exercise. The majority of his employees listened to the poker star’s advice.
Except this unbelievable thing happened.
His top sales executive ignored the poker star’s advice, saying that he played poker every week with his friends and knew what he was doing.
Always Accept Advice
Look, I’ve done well in business. A Nerd’s World has four physical locations and we took in over $1 million in profit.
Many would call that successful.
Guess what, if someone more successful than me were to bust into my office and provide me valuable advice, I would listen.
If you want to make it as an entrepreneur, listen to good advice and USE IT.
Don’t make the mistake of talking yourself out of good advice like my friend selling passport photos did.
Remember, we can always improve and do things better.
Chris A. Hughes