Recently the Small Business Administration asked owners of small businesses “What’s the best advice you ever received?”

Here are a few of the answers I thought were most helpful.

- If you’re going into business, do something that will make money while you’re sleeping.

- Stay focused on your own goals, but be flexible enough to modify your business plan to match what the market is really asking for.

- Don’t try to run your business by looking at the financials alone.

- Never expect a 100% return when you’ve only put forth a 50% effort.

- Borrow enough money to take the pressure off the first year of business.

- Always hire or partner with people who are better, brighter, or smarter in some areas than you are.

- Consider consultants as strategic partners.

- Take out - sourcing seriously.

- Always talk to people in related businesses.

Arynne Simon Says: Learn the true meaning of delegation. Ask me about that and (arynne@simon1.com) also ask me to teach you the difference between objections and resistance. Whether you sell a product or teach ideas, this difference holds the key to selling or convincing people.