8 bold leaders share their advice for entrepreneurs

There’s plenty of advice for entrepreneurs out there – especially online! But how do you separate the good from the bad?

Taking the leap into entrepreneurship is one of the most exciting, exhilarating and inspiring journeys that any person can venture on. You have chosen to live a life less ordinary – one where you are constantly learning and growing – but this doesn’t come without its challenges. 

That’s why we have put together this post which draws on the wisdom of those who have tread this path before us. Read on for inspiration and advice for entrepreneurs that’ll keep you moving forward, pushing boundaries and boldly pursuing your passions… 

Here are eight inspirational pieces of advice for entrepreneurs:

1. “When the ideas are coming, I don’t stop until the ideas stop because that train doesn’t come along all the time.” Dr Dre, American rapper, record producer and entrepreneur

Anyone else have those moments when you spring awake in bed at 3 am and start hammering ideas into the Notes app on your phone? If so, you’re in good company. Rap titan Dr Dre knows more than most about the creative process and we have to back his advice – when inspiration strikes, you’re going to want to harness it. In fact, we’d take a bet that some of the best business ideas were born out of these moments of flow. That’s why we keep our doors open 24 hours – because we know creativity doesn’t keep to the clock. Work-life balance? We prefer to call it a blend. 

2. “It’s important to understand what your main motivation is so that you can focus your efforts on reaching those goals. Then structure your job – perhaps by delegating some work – so that you can spend as much time as possible turning this energy to your company’s advantage.” Richard Branson, British entrepreneur and business magnate

Being clear on what drives you is vital to fulfilling your potential as an entrepreneur. This clarity allows you to leverage your unique strengths and motivations to the benefit of your business. By laser-focusing on what you are best at – and delegating everything else – you are setting your company up to go from strength to strength. 

Struggle with delegating? We know that this process of letting go isn’t always easy, especially if you have been running the show solo at the start. But with time, trust and tenacity, you can build a team that will take your business to the next level. 

As Richard Branson knows, when you organise your time and resources to put your energy where it’s best placed, success will follow. 

3. “The only thing I know for sure after all of this research is that if you’re going to dare greatly, you’re going to get your ass kicked at some point. If you choose courage, you will absolutely know failure, disappointment, setback, even heartbreak. That’s why we call it courage. That’s why it’s so rare.” Brene Brown, American research professor, lecturer, author and podcast host

Ask any successful entrepreneur and they will tell you that failure is part of the process. People often talk about the practical skills that go into being an entrepreneur but overlook one key ingredient – courage. Being brave enough to make bold decisions – and resilient enough to recover when the risk doesn’t pay off – is arguably the most important trait an entrepreneur can have. Our tip for dealing with failure? Flip the script and see disappointments as data from which you can take important insights on the moves to make (and, just as importantly, to avoid) in the future.

4. ‘You are the average of the five people you associate with most.’ Jim Rohn, American entrepreneur, author and motivational speaker

You may have heard this famous quote before – but did you know it’s backed up by research? In a Harvard study, social psychologist Dr. David McClelland found that the people you habitually associate with determine as much as 95 percent of your success or failure in life. 

That’s because our inner circle has a huge influence on our ideas, behaviours and attitudes. Ultimately, the people you surround yourself with play a big part in shaping how you see the world – and how you see yourself. 

When you are supported by people whose energy and intentions align with your own, it’s easier to chase your dreams and achieve your goals.

5. “A well-thought-out critique of whatever you’re doing is as valuable as gold.” Elon Musk, entrepreneur and business magnate

There’s no denying that receiving praise for your work feels good – but, as Elon understands, the critiques are where the gold really lies for entrepreneurs. Too many of us fall into the trap of believing we know best when in reality there is always room for improvement. If you can get your ego to step aside, seeing things from a fresh perspective 

When seeking feedback on your latest idea or project, be bold enough to ask what you could be doing better and be humble enough to really listen. Even if they are harder to hear, it’s these answers that will take you and your business to the next level. 

6. “We can each define ambition and progress for ourselves. The goal is to work toward a world where expectations are not set by the stereotypes that hold us back, but by our personal passion, talents and interests.” Sheryl Sandberg, American business executive and philanthropist

As an entrepreneur, you are in the driving seat when it comes to defining success and designing your life around what really matters. And with the world of work changing rapidly around us, you have more freedom and flexibility than ever before. Knowing what success means to you – and not conflating this with what society sees success as – unlocks huge potential for following your passions. One thing is for certain – the future of work is no longer confined to a one size fits all approach and we’re here for it (and you!).

7. “Take care of your customers as well as you possibly can. Those strong relationships, having a strong foundation with your business, give you the best cushion when things go wrong.” – Mark Cuban, entrepreneur, television personality and media proprietor

When you are being pulled in so many different directions as an entrepreneur, it’s easy to lose sight of the true purpose of your business.  But however hectic things may become, it’s vital to always go back to the people you are working so hard to serve – your customers. When they feel valued, they will return the favour with their loyalty and become ambassadors for your brand. As billionaire entrepreneur Mark Cuban knows, a devoted following is the very best foundation your business can have.

8. “The biggest learning for me is that you can’t give up. If one direction doesn’t work then you have to go another direction and we have been trying so many different directions but we always keep a very positive attitude.” – Serena Williams, professional tennis player

And finally, who better to shed light on the importance of grit and determination than tennis superstar Serena Williams? In just two sentences, this quote sums up so much of what it means to be an entrepreneur – to be constantly learning, adapting and experimenting, all while keeping the dream and vision alive. We know all too well that the journey of entrepreneurship is by no means a linear path – but if you keep pushing through all the ups and downs, we promise you will come out smiling.

Feeling inspired? Want more advice for entrepreneurs?

Thanks for reading our blog on advice for entrepreneurs! We hope you’ve taken away some valuable advice from these leaders.

Feeling inspired to push forwards and make your next big move? That’s what we like to hear! Don’t forget to head over to our Instagram for more advice for entrepreneurs, including insights and tips.

Looking for an innovative, flexible and bold community workspace to support you as you take your business to the next level? Check out what we have to offer in Manchester here.

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