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Knowing what startup advice to take and to toss is important. Hear what others live by.

This story appears in the August 2005 issue of Entrepreneur. Subscribe »

Some people are full of business wisdom, while others, well, aren't. These entrepreneurs reveal the startup advice of the wise and not-so-wise:

Ike Iregbulem, 30, founder and CEO of Opulent Lifestyle, a members-only, VIP luxury concierge service in New York City

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