There is a lot of bad business advice out there. Unfortunately, a lot of it comes from well-meaning friends and family members. If you’re starting a business, it’s important to distinguish good advice from bad advice. This article will discuss three pieces of failing business advice that you should ignore.
They say that you should never start a business with your friends.
The thinking behind this advice is that friends are more likely to have disagreements and fallouts, which can ruin the business relationship. However, this doesn’t necessarily have to be the case. Starting a business with your friend can be a great idea if you have a strong friendship foundation. You already know and trust each other, making communication and decision-making much more accessible.
You need to have a unique selling proposition (USP).
Your USP makes your business different from all the other businesses out there. While it’s essential to stand out from the crowd, you don’t necessarily need a USP to be successful. Many businesses do just fine without one. Don’t feel like you need to force a USP if it doesn’t come naturally.
You have to be passionate about your business.
This is one of the most common advice you’ll hear when it comes to starting a business. And while it’s true that passion can help you through tricky times, it’s not necessary for success. There are plenty of successful entrepreneurs who aren’t passionate about their businesses. So don’t let this advice hold you back from starting a business if you’re not head-over-heels in love with the idea.
These are just a few examples of failing business advice that you should ignore. Of course, there’s no guarantee that your business will be a success, no matter what you do. But by avoiding these common mistakes, you’ll put yourself in a much better position to succeed.