95% of the advice you receive...

Very early on in my business life an old hand shared this with me:

“95% of the business advice you receive will be from the 95% of people who aren’t running a business” 

The metrics have changed over the past 35 years – there are many more people running businesses nowadays (not including self-employed and solopreneurs which is not quite the same) but the essence of that advice holds true:

• Employees will think they know better

• Well meaning friends will say “why don’t you do this…”

• Family members who have never run a business in their life will have their opinion

• And then there’s the bloke down the pub…

Even with 35+ years experience I tend not to give advice unless I am specifically asked for it. I don’t know a business owner’s situation or the stresses they are under, I don’t know what they have tried or not tried and I don’t know their financial means. In short I’m not sufficiently informed to give an opinion without first gathering at least some basic information about them and their business.

So next time you receive some unsolicited advice take a moment to consider their credentials – chances are they’ll be in the 95% who are in no position to be giving you advice at all.