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The Ten Commandments of Business

(Rockwall/Rowlett) July 18, 2013 – With a nod to Charlton Heston and Steven Spielberg and the man (Moses) whose story they told, I present to you The Ten Commandments of Business.

Would you add any?  Email me your additions and I’ll post them on my Facebook page with a link to your business’ webpage or social media!

  1. THOU SHALT LOVE THY NEIGHBOR AS THYSELF.  Yeah, I’m stealing this one, and the Bible may or may not have had business in mind when it was written.  Still, is there a better way to do business?  Of course not.  If you’ve forgotten this in business, your business is soulless.
  2. THOU SHALT BEGIN WITH THE END IN MIND.   A business is a legacy, otherwise it’s just a job that pays you and some other people.  Know Thy Why.
  3. THOU SHALT LOVE WHAT THY DO AND DO MORE OF IT.  Know what it is you love to do most, then free yourself from the parts of your business that drain you.  Planning, delegation, and self-management are tough disciplines that require accountability.
  4. THOU SHALT LEARN TO FAIL, AND FAIL OFTEN.  You’ll fail 100% of the things you don’t try.  Business doesn’t come without risk.  You may or may not be the next Richard Branson, Steve jobs, or Bill Gates, but you can bet they failed more than they succeeded.  Learn to fail, learn from failing, then get back up again.
  5. THOU SHALT KNOW WHEN AND WHAT TO QUIT.  I like throwing this one out there, because it gets attention.  Success in business is about doing the RIGHT things, not everything you can do.  Shrink the profit-less product line.  Delegate what someone else can do for you.
  6. THOU SHALT KNOW THY NUMBERS.  Measuring business health is about math, and if you don’t know your numbers, you can’t do the math.  The critical accounting numbers should be tested and measured at least monthly, even weekly.
  7. THOU SHALT BUILD THY TEAM IN ORDER TO BUILD THY BUSINESS.  In the rush of business, it’s easy to forget that your employees are your first customers.  Take care of them, they’ll take care of your customers, and your customers will take care of you.  Most business owners wait too long to hire.  It’s better to hire then work hard to fill the revenue needed to keep them than to wait until the “right time” to hire.  That time will never come.
  8. THOU SHALT NOT BE SATISFIED WITH “WORD OF MOUTH.”  There’s a great deal to be proud of if you’ve never had to market your business or hire a salesperson. However, you’ve missed opportunities, and that has cost you some success.  Some people who should have heard about you and your amazing business haven’t.
  9. THOU SHALT CONTINUE LEARNING ALWAYS.  I think this one speaks for itself.  It’s been said you must learn before you earn.
  10. THOU SHALT EXECUTE AND IMPLEMENT WHAT THY PLAN.  Most of us know what to do; most of us fail to implement and execute.  Education, planning, implementation, testing and measuring results.  One of these four could be stronger in your business.  Which ones?  And what is that weakness costing you?

Trey Finley

By Blue Ribbon News special contributor Trey Finley of Rowlett, a business coach certified through ActionCOACH, the world’s #1 business coaching franchise, ranked #77 on Entrepreneur’s list of franchises worldwide. Visit his website at rockwallbusinesscoach.com or on Facebook at facebook.com/actioncoachtrey.

 

READ MORE FROM TREY FINLEY:

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