It’s easy to say “No”. It’s also easy to be an ass and make enemies. What’s hard is saying “No” in a way that isn’t rude, and doesn’t make enemies. You may not think you need to make the effort to be nice when rejecting people that ask you for stuff. You may not think…
Pricing
You can price in one of two ways: What the market can bear Cost plus mark-up In a commodity market, option 2 is the only way. If you have something original, option 1 is the best way. The best way to find out what the market can bear is to ask the customer what his…
The difference between a pro and a rookie
A pro keeps his look cool whilst things fall apart. A rookie panics, loses his temper, and runs around when things fall apart. A pro sleeps on big decisions. A rookie shoots from the hip without considering the consequences properly. A pro knows that the best product in the world is worthless without sales &…
Set standards
Every important job in your company should have a standard. If someone fails to meet those standards, his/her name must be posted on a list. At the end of the month those on the list should be invited for “extra classes” to help improve their performance. Over time those employees who do the extra classes…
Make your bed in the morning
If you make your bed every morning you will have accomplished the first task of the day. It will give you a small sense of pride and it will encourage you to do another task and another and another. By the end of the day, that one task completed will have turned into many tasks…
Rather be an optimistic realist than a realistic optimist
Say you’re in a POW jail in Vietnam. You’re a realistic optimist, so you whilst you know your stay will be extremely unpleasant, you think you’ll be released by Christmas. The guy in the cell next door is an optimistic realist, so whilst he thinks he’ll survive his jail-time, he has no illusions of early…
There is a difference between laudable pus and stinking ooze
You’ve had a big setback in the business. Lost a big customer, or partner, or employee. It has been painful, the company is wounded. Around the wound there is an uncomfortable feeling. It is oozing something unpleasant. The question is whether it is laudable pus or stinking ooze. Pus is your body’s way of healing…
The CEO is the leader
If you’re the CEO, you’re responsible for everything. There is no escalation path. YOU are the escalation path. If you have to escalate, you are not the right CEO. Everyone is following you. Everyone is looking up to you. There is no one else. The CEO is the leader.
Go on holiday
Around about the year 2000, Elon Musk was CEO of Paypal. He took leave to go on honeymoon, and whilst away his management team approached the Board to have Elon removed as CEO. He cancelled his honeymoon and flew home, but by then it was too late. The Board asked him to resign. Afterwards when…
Sometimes you must let fate take its course
“A rich and mighty Persian once walked in his garden with one of his servants. The servant cried that he had just encountered Death, who had threatened him. He begged his master to give him his fastest horse so that he could make haste and flee to Teheran, which he could reach that same evening….
Treasure your old friends
“Nothing else in the whole world is so completely in harmony with nature as true friendship, a profound agreement in the feelings and values of two people, supported by mutual goodwill and affection.” Cicero Don’t take friendship for granted. Invest in your relationships, especially with people that have known you a long time. As you…
Rule of 72
Divide 72 by the annual interest rate to calculate how long to double your money. In other words, if interest rates are 10%, then it will take just over 7 years for you to double your money. This is the magic of compounding. Remember it.