Being a successful entrepreneur frequently involves a series of missteps and mistakes before finally nailing the right idea or business.
The difference, for many, between giving up and persisting through the toughest times can be getting advice from people who have done it before — and being smart enough to listen.
From investor Mark Cuban’s dad telling him that there are no shortcuts to Lululemon founder Chip Wilson’s realization that people actually enjoy helping others, we asked 12 successful entrepreneurs to share the best advice they ever got, discovering the lessons that stick with them to this day.
Real estate mogul Barbara Corcoran: My best advice was an insult.
Call it reverse psychology, but it was an insult that motivated Corcoran to succeed. “It’s kind of weird. The best advice was the worst advice,” she said. “It was from my boyfriend and partner in my first business when he told me I would never succeed without him. I was injured no doubt. But thank God he insulted me because I would not have built a big business without that. It kept me trying everything because I couldn’t give him the satisfaction of seeing me fail. So the best advice was an insult.”