Tuesday, September 19, 2006

33 Random Observations About Business

This has nothing to do with local online advertising or Yellow Pages. However, when I received my friend, Matt Michel's Comanche Newsletter, I felt that this was something worth passing on to you.

Matt has compiled 33 observations on business. There is an awful lot of truth in this list.

Make it a wonderful day.

1. More businesses close from a lack of cash than a lack of profits. Cash is king.

2. Sales covers up a lot of inefficiencies. Strong sales buys time to fix most problems.

3. Most hiring mistakes are mistakes of rushing to fill immediate need. Be slow to hire.

4. Conflict is inevitable. Politics is not. Someone with time for politics does not have enough to do.

5. People usually live up to your expectations. Do you expect a little or a lot?

6. The lowest bidder is usually the bidder with the most oversights.

7. Overnight success takes years to achieve.

8. The more successful you become, the more you will be copied and criticized. No one resents a failure.

9. If you think everyone is out to get you and act like it, they soon will be.

10. People usually charge what they believe they’re worth. Service contractors need more self esteem.

11. Simple is superior.

12. The worst thing a company can do to its customers is fail to survive.

13. The second worst thing a company can do to its customers fail to charge enough to serve customers well.

14. Some people are simply not employable. They’re called small business owners.

15. The workload always expands to fill the office staff’s available hours. Focus on what’s important.

16. Act fast. Think faster… Think first.

17. Don’t fix your weaknesses. Hire people who are strong where you’re weak. Play to your strengths.

18. The only person you can safely make fun of, is yourself.

19. When a willing buyer agrees to a price asked by a willing seller, the price is perfect.

20. Your integrity can never be taken from you. People don’t “lose” their integrity, they give it away.

21. Some things are black and white. Some things are right and wrong. Some people do not care. Avoid them.

22. When someone goes out of his way proclaiming his honesty, wonder why.

23. Salespeople put the company first by putting the customer first.

24. Managers put the customer first by putting employees first. It’s impossible for front line employees to treat customers better than management treats them.

25. Good coaches accept blame for losses, while refusing credit for victories. Credit goes to the team.

26. The purpose of a businesses is to increase owner wealth. Businesses accomplish this by getting and keeping customers.

27. Success begins with the first step. Get moving.

28. Incompetence and indifference are bigger problems than corruption.

29. Mistakes are the tuition of experience from the school of hard knocks. Avoid remedial education.

30. The customer is not always right, but is always the customer. Treat the customer like he’s right, even when he’s wrong.

31. A company’s self inflicted damage usually exceeds the impact of competition.

32. Customers care about their problems, not yours. Focus on theirs and keep yours to yourself.

33. Implementation is everything.

© 2006 Matt Michel


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