top 10 business tips

1.You Can’t Fireplace Unhealthy Workers Quick Enough:

You just can’t. simply check that you recognize they’re the matter, not you (see next tip).

2.The  Problem Is Probably You.

When I was a young manager, my company sent North American nation all to we have a tendency took every week of quality coaching wherever the foremost necessary thought we learned was that ninety % of all issues area unit management issues. once things aren’t going well, the primary place to appear for answers is within the mirror.

3.Take Care Of Your Stars.

This goes for each company, huge and tiny. the value of losing a star worker is big, however business leaders seldom take the time to confirm their prime performer’s area unit properly impelled, challenged, and paid.

Your individuals aren’t your children, your personal assistants, or your shrink.
If you employ and abuse them that approach, you’ll return to regret it. Capiche?

4.Learn To Mention “Yes” And “No” Tons.

The two most significant words business house owners and founders have at their disposal area unit “yes” and “no.” Learn to mention them tons. which means that is decisive. the foremost necessary reason to focus – to be clear on what your company will – is to be clear on all the items it doesn’t do.

5.Listen To Your Customers.

It boggles my mind however very little most entrepreneurs price their customers once, not solely area unit their feedback and input among the foremost important info they’re going to ever learn, however, their repeat business is that the best business to induce.

6Learn 2 Words: Meritocracy And Favoritism.

The first is however you run a company – by recognizing, rewarding, and compensating primarily based exclusively on ability and accomplishment. The second is, however, you don’t run a company – by enjoying favorites and being biased.

Related: worry Alone will ne’er Hurt You

7.You Don’t Understand What You Don’t Understand.

Humility may be a powerful attribute for leaders, which goes for brand new business house owners, veteran CEOs of Fortune five hundred firms, and everybody in between. additional times than not, you’ll return to regret thinking you knew all the answers.

Behind each unsuccessful company area unit dysfunctional, delusional, or incompetent business leaders. The irony is, none of them had the slightest concept was true at the time. Even sadder, most of them still don’t. do not find yourself like one among them.

8.Know Once And Once To Not Be Clear.

Transparency is as damaging at sometimes because it is useful at others. There area unit times to share brazenly and times to nada it. you wish to understand once and with whom to try to one versus the opposite. It comes with expertise.

9.Trust Your Gut.

This phrase is commonly continual however seldom understood. It implies that your own instincts area unit a very valuable decision-making tool. Too usually we have a tendency to find yourself oral communication on reflection and with regret, “Damn, I knew that was a nasty plan.” however the secret’s to understand the way to access your instincts. Just sit, be quiet, and hear yourself.

Always check that there’s and can be enough benefit the bank.
Period. the foremost common business-failure mode, hands down, is running out of money. If you recognize you’ve got an income or liquidity drawback springing up, fix it now.

10.Protect And Defend Your Belongings.

Most of you don’t understand the distinction between a copyright, trademark, secret, and patent. That’s not acceptable. If you don’t shield and defend your information, you’ll lose your solely competitive advantage.

11.Learn To Browse And Write Effective Agreements.

You know the expression “good fences keep neighbors?” It’s constant in business. The more practical your agreements area unit, the higher your business relationships are.

12.Run Your Business Sort Of A Business.

Far too several entrepreneurs run their business like AN extension of their personal finances. Bad idea. terribly unhealthy plan. Construct the proper business entity and keep it become independent from your personal life.

13.Know Your Finances Within And Out.

If you don’t understand your revenues, expenses, capital necessities, profits (gross and net), debt, cash flow, and effective charge per unit – among alternative things – you’re requesting bother. huge bother.