Without costs you can't go broke!
Rule nº10 is so true, without costs you can't go broke. I believe many businesses don't have time to succeed. They have so many fixed costs that they have to succeed fast. If you have almost no costs you can have time and with time the probability of success goes up big time.Check out Jorge Paulo Lemann’s 20 Commandments To Succeed In Business:
1. Good people working as a team and with common goals is the most important and differentiator asset of a business.
2. Finding, training and keeping good people around are a constant and permanent struggle for all shareholders.
3. People’s earnings should be stimulating, fair and balanced with the general interests of the company.
4. The assessment of people is an essential and constructive item for the business.
5. The main function of the heads of a business is to choose people better than them to keep the company going even without its leaders.
6. Leadership is exercised by clear ideas and by the daily example in the smallest details.
7. To debate is important, but everything to be considered requires someone responsible for it, and at the end someone must make a decision.
8. Common sense is worth a lot and more than complex ideas. Simple is always better than complex.
9. A good business is always looking to improve. Whatever degree of success, there is always room for improvement. This ensures a lasting competitive advantage.
10. Always reduce costs. That’s something that is under your control and ensures survival.
11. Innovations that create value are useful. But copying what works well is way more practical.
12. The improvement and continuing education of people must be an ongoing effort incorporated into businesses’ routines.
13. Only appear in the news with concrete goals.
14. Focus, focus, focus. Focus on the essential.
15. Communication and transparency with key data circulating help educate, pulling in the same direction and create a competitive advantage,
16. Appreciate the rearguard.
17. Always being ethical is essential.
18. It takes a lot to build a reputation that can fade away quickly.
19. In order to get to the pot of gold at the end of the rainbow you have to go all the way through the rainbow, but do it at a profit along the way.
20. A big, challenging and common dream is essential, and it helps everyone to work in the same direction.
http://www.forbes.com/sites/andersonantunes/2013/09/11/20-commandments-to-succeed-in-business-by-the-conqueror-of-american-iconic-brands/
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