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Here's the Best Business Advice You'll Ever Hear...
The Quit Your Day Job angel financiers share key tips & reveal the biggest mistake wannabe moguls often make.
Starting a business isn't easy. And no one understands that more than the angel financiers on Oxygen's new series, Quit Your Day Job. But if you think that going at it alone will make things less complicated, think again. According to these entrepreneurs it's actually to your benefit to squad up when you're starting a new venture. You see, one of the biggest mistakes up-and-coming moguls make all the time is failing to build a solid team to help with the ins and outs of launching a business.
"It's so important to choose the right co-founders. So many entrepreneurs choose someone who's just like them 'cause that's comfortable. They think, 'I want a co-founder who's a friend, a support, a buddy," tech mogul Randi Zuckerberg told The Daily Dish. "But if you choose someone who's just like you, you're missing so many skill sets. You're gonna step on each other's toes eventually. It's far better to choose someone who complements your skill set, even if you're not besties with them."
Her co-star, consumer products tycoon Ido Leffler, advises that a team can also help you see the faults in your idea. (Because, yes, there are some.) "The biggest mistake that people make is that they assume their idea has no flaws. Every idea has flaws. First and foremost make sure you recognize your business has flaws and that you should ask people for advice," he said. "And share your idea — it's OK to share. Make sure you surround yourself with good, honest people. Find a good business partner. A lot of people think they can do it on their own, and it's really hard. It's all about a team."
It's a sentiment that Lauren Maillian agrees with. "They often think that their business, the way that they have envisioned it is the only way that's possible and the only way it should be [instead of] listening to the advisers that you have around you," the marketing expert said. "And just because you listen, doesn't mean you have to follow. But so many people just don't listen as founders because they don't want to have their baby, as some may see it, their project, the thing that they put so much energy into be challenged."
Get more business advice and insights when Quit Your Day Job airs Wednesdays at 10/9c on Oxygen.
Learn more about the investors, below.