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Business Unplugged™
This blog features Carol Roth's tough love on business and entrepreneurship, as well as insights from Carol's community of contributors.

Why You Might Not Want to Take Business Advice from Twitter

Written By: Carol Roth | 4 Comments

Well intentioned folks like to put forth inspirational quotes and sayings on Twitter, sometimes masquerading as business advice.  Here is one that I came across because it was re-tweeted several times by folks that I know:

Be grateful for every sale. Rather than focus on what’s not working in your business, be grateful and celebrate what is.

While I like the spirit of this, I think there is the possibility for some misguided business advice.  Here’s how I would tweak it (albeit it’s not in 140 characters…)

Be grateful for every customer: The focus should be on the importance of the customers, not the sale.  If you treat those who purchase from you well and make them feel important, that engenders loyalty and long-term business for you.

Do focus on what’s not working in your business: You know Einstein’s definition of insanity is doing the same thing over and over and expecting a different outcome.  If something isn’t working, then change it,especially if that something is costing you money (or a significant opportunity cost).  You can draw inspiration from what is working, but don’t put your head in the sand about what isn’t.

Celebrate the victories, but not for too long: It is important to take a moment to reflect on good work.  But if you spend too much time throwing yourself a ticker-tape parade, you will be at a disadvantage.  Success in business requires consistency of execution, as well as quick adaptation as the competitive landscape changes.  Reward yourself for, but don’t over-indulge yourself in, the success.

It’s quite difficult to get across sound advice in 140 characters, so be a little wary of what is being touted as business advice on Twitter.

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Carol Roth is a national media personality, ‘recovering’ investment banker, investor, speaker and author of the New York Times bestselling book, The Entrepreneur Equation. She is a judge on the Mark Burnett (Shark Tank, The Voice, Survivor, The Apprentice) produced technology competition series, America's Greatest Makers, airing on TBS and Host of Microsoft's Office Small Business Academy show. Previously, Carol was the host and co-producer of The Noon Show, a current events talk show on WGN Radio, one of the top stations in the country, and a contributor to CNBC, as well as a frequent guest on Fox News, CNN, Fox Business and other stations. Carol's multimedia commentary covers business and the economy, current events, politics and pop culture topics. Carol has helped her clients complete more than $2 billion in capital raising and M&A transactions. She is a Top 100 Small Business Influencer (2011-2015) and has her own action figure. Twitter: @CarolJSRoth