40 Expert Tips for Entrepreneurs and New Business Owners

Being an entrepreneur and launching a small business is tough. Sometimes, it can feel almost impossible. Luckily, it’s not. 

If your true passion is starting your own business — and you’re determined to do so — a little advice never hurt anyone. Especially if those tips on how to start a business come from those who have done it before. 

We asked successful entrepreneurs and small business owners for the best advice they had for new entrepreneurs. Here’s how you can turn that million-dollar idea into a profitable business.

Building a successful business takes time. And sometimes, forces outside your control might make things even slower going in the beginning.

“The paths to success are still the same, but … persistence is really going to pay off,” says James Canzanella, the owner of Isolated Marketing Nights. “After all, you might not begin to see any traction as quickly as you used to.”

This can apply to any business. 

The world is full of copycats. Sure, it worked in the past. Take Oreo, which ripped off Hydrox cookies and became a cookie king. But it won’t work today, and you’ll want your business to be as original as possible. 

“When first starting out, I looked at other competitors and simply copied what they did as it felt safe,” says Amit Gami, Business Waste Guru, a United Kingdom-based business that provides waste collection to businesses. “I wish I had stuck to my guns and simply created something I thought the world needed, independent of any external influences.”

When times are tough — and they will get tough — you want to own a business that you actually enjoy and want to keep going, not just some stale venture solely used to make money. 

“I’ve seen many business owners burn out when dedicating themselves to industries that seem like smart choices, but which they are not passionate about,” says Meg Marrs, founder of the dog care resource website K-9 of Mine. “Any business will have ups and downs, but if you are in an industry you are passionate about, you will be able to ride those highs and lows better and your dedication can set you apart from competitors.”

Building a business requires focus. This piece of advice is a well-known adage, but it’s worth repeating. 

“Starve your distractions and feed your focus,” says Jennifer Sargeant, a digital marketing professional and founder of Digital Sargeant. “At all times, only fill your ears with positivity and with information about the industry you serve and your ideal target audience.”