From websites to podcasts to networking events, entrepreneurs have access to more sources of business advice than ever. However, not all tips are created equal. This post goes over several pieces of advice that business founders should be wary of.

You Have to Use Every Channel

Entrepreneurs often hear that it’s important to be active on as many channels as possible. In other words, it’s necessary to have a presence on LinkedIn Live, Instagram, Facebook, Snapchat, YouTube, and countless other platforms. However, this advice is nearly impossible to put into practice: Trying to post content through all of those outlets will soon become a timesink. Instead, try focusing on the channels that are most relevant to your target audience and on the tasks that generate the most return on investment.

You Have to Be Loaded

Another common piece of advice that entrepreneurs come across is that to start and operate a business, a large amount of money is required. However, as pointed out by Neil Patel on Forbes.com, this is not the case: Many entrepreneurs are not rich, nor do they need huge pools of money to get off the ground. Rather than leaning on deep funding reservoirs, it’s possible to succeed by being as cost-conscious as possible and responsibly making use of options like lines of credit.

New Things Always Help

Entrepreneurs often see advertisements or hear word-of-mouth praise promising great results from the latest productivity hack, social media platform, or marketing fad. Be wary of falling to this trap. For example, a new marketing strategy may sound great, but it might not work for your company if it does nothing to reach your core audience. Instead, focus on implementing solid strategies and continually improving them through setting goals and tracking progress.

Want more guidance on navigating the business world? Take a look at LMC Alternative Business Capital’s other blog content.