The biggest problem with receiving advice from peers or mentors is that you never know what will work and what won’t. While a lot of successful businesses are born out of the intelligence and ability of their owners, sometimes, people pass on advice they’ve heard — or misheard — without any personal experience to add perspective. As a result, the advice they offer is based on a gut feeling, which may or may not be a boon to your own business: In some cases, the advice they share can be downright terrible for a budding entrepreneur.
To help identify some of the bad advice out there, we asked 15 members of Young Entrepreneur Council (YEC) the following:
“What is the worst piece of business advice you’ve ever heard? Why is it so harmful?”
Dispatches From The Front 