Thinking Inside the Box

After reading an excellent book by Kirk Cheyfitz this weekend I wanted to keep a list of his 12 planks for future reference. If you have not read this book - I highly recommend it. Kirk is an excellent writer and his information is gathered from personal experiences in the business world.

1. Some Things Never Change - The basic rules of business have not changed for hundreds of years.
2. Profits - You have to make money in a business.
3. Cash is King - Accountants can fake every number on the balance sheet but cash.
4. Know What You can Control - You can control costs. You cannot control revenue.
5. Customer is King - No customers = No business.
6. Marketing - You need to be selling and marketing all the time.
7. Growing - It is easier to buy a business than start one to grow your business.
8. Hire Smart - You need good people to be successful.
9. Assets - Make maximum use of all of you business assets.
10. Results - The end result is what counts not how you got there.
11. Renew - Be prepared to change your business as the world changes.
12. Exit Strategy - Have a plan to get your money out of the business.

These are all excellent points for any business large or small.