- Getting ahead in your business is as important as staying ahead. Have a long term sustainable strategy for your business.
2. Before you engage in a partnership with another business, find out what’s in it for you and what’s in it for them.
3. As an entrepreneur, not every business idea must be discussed. Learn to conceal your wisdom.
4. Always have a plan B for every business decision. If the pot is boiling over, use a long spoon.
5. Your biggest problems will originate from people. Learn how to manage people.
6. As an entrepreneur, don’t conduct business in public places.
7. Do not use your birthday or the birthday of someone close to you as the password for important files. Your competitors can piece together some big information from a few tiny fragments.
8. As an entrepreneur, don’t encourage overtime. Tell your people to finish their work during regular business hours.
9. Don’t be too familiar with your subordinates; it may at first inspire affection, but eventually, like all familiarity, it will breed contempt.
10. As an entrepreneur, pay or reward the one who keeps your money often, so he/she will not set eyes on your income.
11. Do not criticize beyond necessity and seldom criticize in public. If need be, always precede criticism with a few words of praise.
12. As an entrepreneur, you can get bad advice from good friends, so be wary. Do not reveal allyour intentions to your partners.
13. Always take the side of anyone in your organisation over outsiders. Even if he /she is wrong,he/she is right; that can be straightened out between the two of you later.
14. As an entrepreneur, promise little and deliver much.
15. Don’t employ someone who rubs you the wrong way. Don’t be stuck with a know-it-all. Employ someone with a teachable spirit.
16. In doing business with others, take calculated risks. Do not use both feet to test the depth ofthe river.
17. As an entrepreneur, you need to be on your guard against everything.
18. Always do business with strangers as if they were brothers and with brothers as if they were strangers. Treat your business as business.
19. Never act on business advice given you without getting second or third opinions.
20. As an entrepreneur, speaking softly to your workers forces them to listen. However, the more you speak, the less they listen. Keep it brief.
21. Mind your business, but keep an eye on successful businesses. If your neighbor gets upearly, get up earlier.
22. As an entrepreneur, you must ensure that you correct or quash any rumour or innuendo that attaches itself to you or your brand. Otherwise, your silence can mean consent or validation of the rumour.
23. Always form allies with people who can give you credible information from your competitors. This information will help you to improve the quality of your products or services.
24. As an entrepreneur, never tell your friends how well you’re doing or how bad things are going.It’s either they will condemn you for bragging or will gloat and leak word back to your enemies, who may take your misfortune as a sign to move against you.
25. Finally, be wary of people who talk too much. Such people are compulsive liars and have thetendency to subvert the truth.