Who Can You Take Business Advice From?
In today’s video, Matt is reviewing a video that suggests you should only take advice from people who have done what you are trying to achieve. Matt agrees and goes into more detail on this tip. Watch and tell us what you think!
There are tons of people out on social media giving business advice. Some of it is good advice, but most of it isn’t good. In this series watch CapForge’s owner react to different advice videos. He’s an expert in all things business and has 20+ years of experience under his belt. Some of the things he reacts to might even surprise you!
Video Transcript:
Business Advice Video:
Success tip. Do not take advice from someone that hasn’t been where you want to go or hasn’t achieved what you want to achieve. It’s that simple.
Matt’s Review:
Yeah, I would agree with that. I think it’s more like, you know, when you talk to family and friends about starting a business. All of them have regular jobs. They’ve never started a business, never owned a business. They’re not going to be coming from the same place when they give you advice when they talk to you about how risky it is or how it’s not a smart move or whatever. It is okay to talk to somebody, let’s say you’re starting an HVAC business, you could talk to somebody who’s in the HVAC field, even if they’ve never started a business about generally how that business works or what the customers are like or pricing or delivery service times. You might not talk to them about the nuts and bolts of starting a business, but you can talk to them about that general business. Anybody and everybody will give you advice. The point of whether or not you should pay attention to it has everything to do with how much they actually know what they’re talking about, right? Everybody has an opinion. There’s lots of expressions about how that is true and it is. But you really want to listen to people who have been through it and know what they’re talking about. So me, for example, I’ve owned businesses, started businesses, sold businesses, and currently work with literally over 1000 business owners seeing their exact financial results. So when I say what I think it’s based in twenty-five years of experience as a business owner and seeing what other business owners are actually doing, right? If you’re talking to a marketing person, they might say, hey, a marketing campaign works great. But for us, from an accounting standpoint, we can say I can actually see how much money is coming into this business and how much money they’re actually keeping and have a data-based opinion on whether or not something’s working. So, I would say I’m in a good position to give general business advice and specific business advice. Whereas a lot of other people, you know, they only know their own business or they’ve never even been in business. And those are the people you want to spend no time basically listening to because their advice, even if it’s well-meaning, even if it happens to be accurate, is accurate by accident, not because they really know or have a baseline for what they’re talking about. So. Be careful who you choose to listen to advice from and make sure that person is qualified to give it.
