1. When you're a business owner, 98% of stress is
self-imposed. If you're complaining about:
- Your Clients - get over it because they are the reason that you're making a living.
- Your employees - fix it because they're your responsibility.
- Not having enough time - get some help.
2. It's okay to turn business away. Some clients will generate
more stress than they're worth or not be profitable enough
to work with.
3. There are things that your team will never do as well as you.
That's why you're the company owner and they work for
you. Adjust your expectations but don't stop working with
them to improve their skills.
4. There are things that your staff can do better than you. Don't
micro-manage. Leave them alone and let them do their job.
5. Hire for culture fit. You can teach skills but you can't teach
culture fit. If you've made a hiring mistake:
- With skill level, work to raise the skill level.
- With culture fit, manage the person out of the company.
- Never stop reinforcing your company culture (what is important to you). When your staff makes jokes about it (and you), then you'll know that you're getting through.
6. Know your numbers. Pricing. Costs. Profitability. GM%. Etc.
7. Know what you want in life. Then figure out how business
fits in. Run your business ... don't let your business run you.
8. Growth is essential for a public company. Not so for a
privately-owned business. It's ok to have other business
objectives; just decide what they are and work toward them.
9. Never apologize for good business practices. Examples
include:
- If you have a fair price, don't back down from asking for it.
- Contacting clients who owe you money and getting paid (on time).
- Employees should be held accountable. Set reasonable rules & expectations. Then enforce them.
10. Treat your staff with respect and expect the same in return:
- Employees don't need to be your best friend but "do unto others" ...
- Employees don't need to treated equally ... they need to be treated fairly.
11. If you focus on the customer/client and do what's right for
