To me advice from others about business fits one of three categories…
- Good Advice – comes from someone who really knows and loves your work or comes from someone who has been successful in the area he/she is giving you advice on.
- Bad Advice – anything that isn’t covered by good advice
- Parasitic Advice – advice that is designed to convey that the givers “idea” should be adopted and that you should “bring them in as a partner”. See also bad advice
I also give my thoughts on “partners” and why I feel it is best to be a heavy majority partner or a true minority partner in any business vs. an “equal partner”.