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6 Truly Timeless Principles Today’s Entrepreneurs Should Live By

Posted: April 16, 2018 at 10:39 am   /   by   /   comments (0)

To say that it’s a fascinating time to an entrepreneur would be the ultimate understatement.

Between an all-time-low barrier to entry and endless access to customers of all shapes and sizes, getting started just requires a bit of motivation and a guidance.

Speaking of guidance, sometimes the best advice there for budding entrepreneurs isn’t necessarily the latest “breaking” advice. If you think that old-school is cool, you’ll definitely want to double-check this list of timeless principles to live by.

And although some of these pointers may have been brought up a decade ago, they still ring as true as ever today.

Always Ask for Permission

Seth Godin’s classic principle of “permission” market is incredibly relevant in today’s tech world. Given the forthcoming GDPR regulations on visitor data and Facebook’s recent user scandals, people are weary of businesses going behind their backs.

Marketing that’s in-your-face or otherwise deceptive isn’t going help you in the eyes of your audience. As noted by Godin, gaining permission and trust makes it exponentially to sell to customers. And if nothing else, it’s so much easier to ask for permission than forgiveness in the world of entrepreneurship.

You’re Only as Good as The People Around You

Whether we’re talking about hires, customers or potential partnerships, keeping good company in business is critical. Yes, doing business is ultimately about making money; however, that doesn’t mean you can’t do business with people who make you feel fulfilled and rewarded.

When it comes to hiring or your product look beyond dollars and cents and ask yourself if your next business relationship is one to be proud of.

Don’t Be Evil

Taken from Google’s motto and on a related note, businesses should strive to do good beyond earning a few bucks. You may not be able to provide a product that “changes the world,” but you can take time for charitable causes and making your industry a better place in the long-run.

Time is Money

This one might seem like a no-brainer but, given the modern era of distractions, so many would-be success stories hold themselves because due to a lack of focus. Thinking about some of the biggest time-wasters of entrepreneurs, it’s clear how we can get caught up in emails and new ideas rather than actually making money.

Much like your free time is incredibly valuable, so are the hours you put in as a business owner. When you put stock in every second, you’re less likely to waste that precious time.

It’s Okay to Say “No”

Some newbies tend to romanticize the idea of the entrepreneur that dives head first into any and every opportunity, but such a vision isn’t rooted in reality. Learning to say “no,” either to potential clients, partners or coworkers, is a difficult skill to master but is crucial to keeping yourself from getting overwhelmed.

Avoid the Three C’s 

Don’t discount the power of positivity. As noted by Dale Carnegie’s How to Win Friends and Influence People, you can get a lot further in life when you avoid criticizing, condemning and complaining about others. The same is true for entrepreneurs who should worry about their own business instead of obsessing over what others are doing.

We might live in an era of instant gratification and smartphones, but the advice from the entrepreneurs of yesteryear still applies. No matter what your industry or level of experience, sticking to these principles can put you on the right track toward success.

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