Tips from the Top: Successful Entrepreneurs Share Their Best Advice

World Entrepreneurs’ Day is celebrated every year on August 21, honoring entrepreneurship, innovation, and leadership across the globe. We thought we’d celebrate this holiday by rounding up some of the best pieces of advice from successful entrepreneurs. Some of these businesses even started out of the home! Now, these companies are worth millions. While the road of entrepreneurship can be incredibly challenging, these innovators have found success as a result of their creativity and hustle.

Listen to Your Customers

If I had to give a piece of advice to my fellow entrepreneurs, I would say focus on your customer base. Make it easy for past customers to interact with your brand, and for future customers to learn about why you are unique. Past customers can easily become brand ambassadors if they’re excited about your product and willing to share it with their friends. – Nick Morton, Tipsy Elves

Always Have a Backup Plan

In a world that is hyper-competitive, fast-moving and rapidly changing, it’s becoming ever more important to make sure you not only have one plan but two or three. Not as fall-backs but rather as positioning for entry into emerging markets or to take advantage of a new opportunity. You can also look for expansion in an unusual demographic that solves a different need. Being first and fast is an advantage today. So be ready for anything and pounce when the moment is right. – Drea Gunness Groeschel, Beautiac

Build a Team as Passionate as You Are

First, make sure you’re passionate about your mission. I am totally committed to changing the way men look at fashion – and bringing them comfort without sacrificing style. Through Buttercloth, I want to give them the self-confidence to succeed – and it is so gratifying to hear from our customers how much they love Buttercloth. Secondly, put together a great team, both internally and with outside partners, that excels in each area of the business. I’m the creative guy, so when I started Buttercloth I found the best people I could to help with marketing, finance, and operations. We have an awesome team and that is what is driving our success. Finally, trust your gut feelings, and be willing to take risks. You’ll make mistakes – we all do. Just be ready to recognize them and fix them quickly. – Danh Tran, Buttercloth

Put in the Hard Work

Be relentless in your pursuit of success. You need to have grit and perseverance to succeed, not just a good idea, so make sure you surround yourself with people as hardworking as you are. – Brandon Leibel, Sand Cloud