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Start Your Business Startup Basics

The Best Business Advice of 2012

Are you still on the fence about starting a business in 2013? Do you need help taking that leap into entrepreneurship? If so, you are in luck. After speaking to a wide variety of entrepreneurs and business owners in the past year, BusinessNewsDaily has the best bits of advice to help you get your start in business.

12 Smashburger

"Entrepreneurs would be well served by modeling out what the next two to three years will look like, what the real costs are and how they are going to get to where they want to. Lots of entrepreneurs underestimate how long it will take to do things and how much it will cost. Marrying the business model with the idea on the service side of your business is crucial. Once you know you have both those nailed, then you really know you have a good business idea."

Dave Prokupek, CEO and co-founder of restaurant chain Smashburger
Photo Credit: Smashburger
Morey's Piers

11 Morey's Piers

"I personally think that all successful businesses are not started by people who are trying to make a buck. They are started by people trying to execute a passion. I think you are doomed if you start the other way."

Jack Morey, executive vice president of Wildwood, N.J-based amusement park Morey's Piers

"You need to have a balance of people to be successful. You can put a bunch of really creative people together and you can have a short journey, or you can put a bunch of uncreative people together and have no journey. It may not always peaceful, serene and soothing to find that balance, and sometimes there is some conflict, not the bad kind, but it occurs to move the ball forward."

Will Morey, president of Morey's Piers
Photo Credit: The Morey Family Archives
Dylan's Candy Bar

10 Dylan's Candy Bar

"My parents always told me do what you love because that is what you will do well in. They told me to make sure that you are happy. From watching my dad and his experience I learned to follow your gut. I think that is the best advice I can give to others. The best thing in business is to follow your gut. If a decision is not sitting well, don't just make it."

Dylan Lauren, founder and CEO of Dylan's Candy Bar
Photo Credit: Robert Isabel Hernandez
Louisville Slugger

7 Louisville Slugger

"In more than 120 years of business you will have ups and downs. We have had some really high highs and some tougher times. Our company has survived two world wars, a Great Depression, floods and fires, but the most important thing is to persevere and look at the long-term strategy. One of the great things of being a family-owned company is that we don’t have to make knee-jerk reactions for our business based on the short term. We look long term, and I think that is the main reason we have been around for so long."

Rick Redman, vice president of corporate communications for Hillerich & Bradsby Co., which owns Louisville Slugger
Photo Credit: Hillerich and Bradsby Co.
Curtis Bashaw

6 Curtis Bashaw

"To be an entrepreneur you have to believe in your vision, sell people on it and be willing to execute on it. That often means taking a step that is risky because you don’t know the outcome. When it comes down to it, you are putting everything on the line when you go out to start a business."

Curtis Bashaw, co-managing partner of real estate development group Cape Advisors and Cape Resorts Group, the company that maintains those properties
Photo Credit: Victor Demarchelier | Cape Resorts Group
Yogi Berra

5 Yogi Berra

"Make a game plan and stick to it … unless it’s not working."

Yogi Berra, three-time American League Most Valuable Player, 15-time All-Star, 13-time World Series champion and small business owner
Photo Credit: Yogi Berra Museum and Learning Center
Robert Herjavec

4 Robert Herjavec

"The best advice I would give to somebody is: Don’t ever start a business that you are not incredibly and deeply passionate about. It is hell, and you will spend more hours with your business than you will with your family and friends. You will have horrible days that will make you want to quit and question everything you have ever learned. Along that journey, if you don’t absolutely love what you do, there is no way you will survive."

Robert Herjavec, CEO of Canadian-based information technology company The Herjavec Group
Brooklyn Brewery

3 Brooklyn Brewery

"I think our story is a lot about adaptability and persistence. It took us six years to make a profit, and even then it wasn’t a very big profit and it wasn't very consistent. But we were always growing our sales and reaching new markets. It really took a lot of persistence and endurance to get to where we are today. I think that is true of a lot of businesses."

Steve Hindy, co-founder and owner of Brooklyn Brewery
Photo Credit: Brooklyn Brewery
Life is good

2 Life is good

"The thing I love to share most with anyone who is interested in starting a business is: You have to try things. Putting together a detailed business plan is a positive discipline, but you learn so much just by trying. All those years in the street or the van, we didn’t have much financial success, but we learned so much. The most important thing we learned was that hearing 'No' doesn’t hurt you at all. In fact, it strengthens you, makes you smarter and forces you to adjust your approach and all the details of your business. You have to stay open to hearing feedback from people. It is not an option; you must be open to feedback and listen to it."

John Jacobs, co-founder of Boston-based apparel manufacturer Life is good
Lucas Oil

1 Lucas Oil

"[My first business] was a small business, so I was my own boss. I learned how to save a nickel here and a penny there. I learned the things that it takes to be a good negotiator and a sensible person and also how to take care of your money. It forced me to be responsible, and that was particularly important because it taught me to see something through, even if that meant working through the night into the next day. You have to have those kinds of ethics and people have to trust you."

Forrest Lucas, founder of Lucas Oil Products, which manufactures and produces automotive lubricants, additives and oil

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