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Rules of Business




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               TWENTY Rules of Building
                a Successful Business





By M. Le'Mont


I use to wonder what was meant by the old saying,
"I've forgotten more than you know."  

After being in business for 35 years, I now understand
the true meaning of the phrase
.  


I hope these rules will serve as a reminder of aspects
of your business that you forgot to focus on, and serve
as a fountain of knowledge.  

                                                                               
                                     

1. The Unexpected Surprises are the real good ones.  
 
A fellow businessman sent me this 2 min Video, and
I will forever be indebted to him.
 

2.  There are no bad experiences only learning experiences. 


3.  Adversity is your Friend- Learn to embrace it.


4.  Survive - Most people wouldn't call surviving  a rule.
 But you got to stay in the game, if you want to win.


5.  Commitment- You must work harder and longer
hours and have total commitment to all areas of your business.
    .



6.  Sacrifice- What are you willing to give up to build a
 successful business.



7.
 Employee payroll- Instead of hiring full time or part time employees,
try paying people by the job as you need them.  
It will save you an incredible amount of money.
  




8.  Good Customer Service- Always give customers a
pleasant retail or service experience and when in doubt
rule in favor of the customer. 



9.  Automation or Elimination- Always seek ways to
reduce costs by automation or elimination.
  




10.  Find a niche- There is an area within most industries where competitors
have given up trying to make money.  Find a way to serve that market
and be a niche player where few dare trot.



11.  Guarantee your products or services - Nothing is more disturbing
than a company that wants to sell you something without offering you
a money back guarantee.
 


12.
 Find hidden assets within your company and
turn them into cash.



13.  Stay under the radar and keep a low profile. In today’s litigious
society, a frivolous law suit can put a business out of business faster
than the snap of a finger.  Stay low.......real low.



14. Look for innovative ideas outside your industry
 and adopt them to yours.  



15. Be the lost cost provider- If you are not trying to
 find a way to make your product fee, believe me
 someone else is and it could means lights out for your business.



16. Don’t take on too much debt- This is what drives most companies
 out of business.
 


17. Always track and measure results and performance on new
projects, ideas, products, or services before making a decision.



18.  Cut your losses - don't let a small loss turn into a huge
 loss because you were afraid to admit that you were wrong
with a project, an idea, or product that didn't work.



19.   Diversify- when things are good is the
 most dangerous time.    



20. Create multiple income streams through unrelated
industries and products or services.



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