Make it up as you go along

To the outside world it may seem that great entrepreneurs are following a master plan. A well thought out scheme, with defined milestones, ending in greatness and success. That’s because most of the outside world has never started a busines.s There is no grand plan. Businesses make themselves up as they go along. Your job,…

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The 4 Quarters Rule

If you’re in the game of buying companies, apply the 4 Quarter Rule: 1 quarter is how you buy. 1 quarter is how you structure. 1 quarter is operations. 1 quarter is sales. That’s how you must allocate effort and energy. Neglect any quarter and you risk doing a bad deal, regardless of how well…

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Kill your darlings

It’s a sad truth that most of your ideas will end in the trash can. And many of those trashed ideas will be the best ones. But trash them you must, otherwise you can’t focus on what’s gaining traction. If you chase more than one idea at the same time you risk failing at everything….

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Every lie you tell incurs a debt

Sooner or later, that debt must be repaid. The best policy is to never tell a lie. That way you don’t have to remember what you said. And you don’t have to lie in bed at night thinking of when that debt is going to be called up.

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You gain authority by giving it away

True authority is leadership. To be a leader you need followers. People follow leaders that create goodwill. Goodwill is created by helping others, putting their interests first, and empowering them. In other words, leaders gain authority by giving it away.

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You are the message

What is being said is less important than who is saying it. People attribute credibility to the words depending on who is saying them. So, if you want your words to be taken seriously, you need to build a reputation of authenticity. To do that you need to spend your life keeping promises and delivering…

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Victory is the only option

Coming second is not an option. Great entrepreneurs find a way to win. That’s all there is to it. You have to think hard, and work hard, until you win. All other routes are a cop out. Victory is the only option.

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Momentum can be the difference between winning and losing

When you have no momentum even the simplest tasks seem hopeless. Morale is low. The future is dark. A company with no momentum is like a train at dead stop. It’s hard to get going. On the other hand, if you have momentum, even a steel reinforced concrete wall can’t stop you. Momentum starts with…

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Your problems are yours alone

In business, your problems are yours alone. You can’t make them some else’s problem. If the problem doesn’t get solved, YOU pay the price in cash. Never try offload the problem or allocate blame. Own it. Solve it. Take responsibility. Your problems are yours alone.

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Don’t let yourself be rushed into any decision

If you feel uncomfortable, sleep on it. Better a small delay than a bad decision. Beware people that try to rush you. And resist the pressure. Don’t let yourself be rushed.

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Don’t wish ill on others

It’s very tempting to hope for bad luck for others, especially competitors. Resist that temptation. Not just openly, but in your head too. Squash any thoughts you may have in rejoicing for the misfortune of others. It’s bad karma, and it’s none of your business. Get on with your business. Don’t wish ill on others.

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There’s no substitute for face-to-face

Telephone is easy. Email is easier. But if you really want to close a deal, there’s no substitute for a face-to-face meeting. Get off your ass, get into your car, get onto the plane, go sit in front of his/her office. If you’re not willing to meet in person, don’t be surprised if you don’t…

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