Commission costs you nothing

Some people begrudge paying sales commissions. Why? It’s only possible to pay a commission if you’ve earned revenue. No revenue = no commission. Unlike fixed overheads like salaries, rent and stationery, commission costs you nothing. Never begrudge paying a commission, even if it’s 100 times your salary. Revenue is good for your business. Commission costs…

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There is a difference between erratic & agile

No one argues with the importance of agility in business. If you can’t react fast, you cannot succeed. Agility is the single biggest advantage that startups have over big corporations. A bureaucratic startup is dead before it starts. But there is a difference between being agile and being erratic. Agile means adapting fast whilst staying…

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Doubt is useful unless you have no options

Having doubts will save you a lot of money. Better to listen to your instincts than to heedlessly bulldoze forward. That said, doubts can be dangerous. An army won’t follow a general that shows doubt. Even if the general hides his doubts, he won’t be able to make decisions if he’s filled with doubt. Sometimes…

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When you’re having doubts, stop the bus

Maybe you’re about to buy a house, or sign a lease, or hire a manager. Maybe you’re nervous about a financial policy. Maybe you’re unhappy with an employee. If you have any doubts, stop the the bus. Most doubts can be discarded as noise. But sometimes the little voice in your head is on the…

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Unprofitable businesses rip-off customers

Steven Drucker once said its not profitable businesses that rip-off society, its unprofitable ones. If you don’t have a profitable business model, you only have one path to profit: Lying to your customer. Far better to have an openly profitable business. That way you never need to trick your customer in order to secretly make…

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There is a time for everything

If you have just started a new business, you’re probably a bit frazzled. Not only are there a million things on your to-do list, but there are a million opportunities crossing your path. How can you do everything?! Don’t panic. There will be time for everything. Pick the most important job, do it. Pick the…

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Pin the deal

Let’s say you want to buy a house. Or a company. Or anything. Before you find the money, make sure you pin the deal. It’s no use scrambling together one million Rand only to find the deal of your dreams has gone to someone else. Don’t worry about price or funding or due diligence or any other detail….

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Don’t be nasty to your suppliers

Don’t set a deadline unless its real. Don’t make someone kowtow just because you know he needs your account. Don’t be nasty to suppliers. Maybe you’ll get away with it for awhile, but eventually your best suppliers will find other customers, and you’ll have a reputation for being a terrible client. The world goes round in circles….

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The desire to win must outstrip the fear of failure

There’s nothing wrong with fear of failure. Its an indicator of how badly you want to win. In fact, fear of failure drives you even harder to win. The only time fear becomes a problem is when it outstrips your desire to win. Your will to win must be greater than your fear failing. The fear of…

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There is no such thing as a finished foundation

You can never stop building your foundation.If you want to win, you must build every single day.Policies, customers, branding, people.Every detail matters, every day counts.The moment you stop working on your foundation is the moment someone starts eating your lunch.Your foundation is never finished.Keep building.

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Work on the basis of probability, not possibility

There are no certainties in business, but there are odds.Always work to have the odds stacked in your favour.Work on the basis of probability, not possibility.If your success is dependent on “Hail Mary” passes, you’re asking for trouble.Boring is better.Identify the lowest risk opportunities, chase them.Leave the realm of “possible” to others.Focus on probable.

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You can’t win by copying your competitors

So your competitor bought a TV ad.So she launched a new product.So she dropped prices.So what?You can’t run your business based on what your competition is doing.You can’t win by following.Ignore your competition, focus on your own mission.If you don’t have a mission, find one.

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