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 Today’s advice comes from our interview with Manu Mathew, CEO of Visual IQ: “Statistically, most people react instead of think outside the box…so the entrepreneur needs to have some sort of vision to articulate where this could go so that people can react to that vision and its potential.” Mathew says entrepreneurs need to have enough conviction to see their story to its end goal, but do not need every detail mapped out. When Mathew founded Visual IQ, he says he did not have every piece of the puzzle together, but recognized the importance of learning along the way. Since Visual IQ is a marketing intelligence company, Mathew was learning the complexities of collecting data as his company was developing. Part of the learning process involves taking advice and being flexible enough to react to feedback. Mathew says entrepreneurs should avoid arrogance because it could mean missing out on good advice. “Along the way you have to be adaptable and you have to react to what you see in the market. What you thought was the right way to do it, if in a month or three, you keep hearing ‘No, no, no’, statistically across all the folks you are selling to, and if you can’t quickly understand what it is they’re asking for and build it into your platform…or react to it, then in essence you are probably going to fail farther down the road.” Want your business advice featured in Instant MBA? Submit your tips to tipoftheday@businessinsider.com. Be sure to include your name, your job title, and a photo of yourself in your email.
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