The Best Advice You’ll Ever Be Given as an Entrepreneur

Whether you have been in business for a decade or are a new entrepreneur, you will undoubtedly be the recipient of advice from well-meaning associates. Some of it will be amazing and some will not really be relevant to you or your business endeavor. However, there is one piece of advice that is the one thing you should always remember and the one piece of advice you can take to the bank.

This is the best advice you will ever be given and it’s all about giving back, some call it ‘paying it forward.’ The most important thing you can do as an entrepreneur is to use your time and talents to help others in need of a bit of mentoring. Yes, the best advice you will ever be given is to be a mentor, giving back some of what you have learned along the way.

Mentoring young businesswomen

Living by the Golden Rule

Everyone has heard of the Golden Rule. In the Judeo-Christian heritage, it is wisdom said to have been passed down from Moses to the prophets. In other cultures, it’s referred to as karma. Do unto others as you would have them do unto you. Do you remember when you were just starting out and every small obstacle seemed like a mountain you needed to climb?

You’d just get to the pinnacle only to notice that there was an even higher mountain ahead that you’d have to conquer, and so it went day after day. What wouldn’t you have given for a bit of much-needed advice at times like that? Perhaps someone stepped forward and became your mentor. Now it’s your turn to do a little mentoring yourself. Remember those days and you’ll appreciate the need for mentors who can guide others as you once needed that very same guidance.

What You Learn by Teaching Others

One extremely successful entrepreneur who encountered many of the same setbacks that you did in the beginning, Tai Lopez, has learned that by teaching others you have an opportunity to learn something new yourself. It is through teaching others how to be successful that you come upon little tidbits of wisdom that perhaps you hadn’t thought of before. In the very act of explaining something, a light dawns on you and you gain a new awareness of something that has become almost second nature to you.

While enriching others, you become enriched yourself.

Startup competition in progress
photo credit: Steven Zwerink / Flickr

A Little Competition Is a Very Good Thing

Some business men and women are apprehensive about sharing what they’ve learned because of their innate fear of arming the competition. This is something that should be looked at in a different way.

If you look at competition from another perspective, you’ll see that a little competition goes a very long way. Most innovations are the result of trying to do something bigger and better than others in the same field. If you stop to think about it, most inventions were prompted by a competitive spirit. The successful entrepreneur will see competition as a healthy way to keep them on their toes and so they will never fear teaching others, even in the same industry, what they have learned.

Again, sometimes it is in the very act of imparting knowledge that you gain new insights that help you to grow as well!


So then, the best advice you will ever be given as an entrepreneur is to give back a bit of what you’ve learned along the way. Be a mentor. Teaching others to be successful benefits everyone involved, and as you help others and they begin to mentor, a chain reaction follows. Nothing but good comes of strong business relationships and the best way to establish them is through mentoring.

Give it some thought.