Fan Li's Golden Rules of Business Success
The Twelve Golden Rules are as follows:
1- Ability to know people's character. You must perceive evidence of characteristics from experience.
2- Ability to handle people. Never prejudge a prospect.
3- Ability to stay focused on the business. Have a definite focus in life and business and avoid jumping around.
4- Ability to be organized. A disorganized presentation is unappealing.
5- Ability to be adaptable. Make sure you are organized enough to respond quickly.
6- Ability to control credit. Do not allow nonpayment. Make sure you collect what is owed.
7- Ability to use and deploy people. Use employees in ways which bring out their potential(s).
8- Ability to articulate and market. You must be able to educate customers on the value of goods.
9- Ability to excel in purchasing. Use your best judgement in acquiring stock.
10- Ability to analyze market opportunities and threats. Know what is selling according to areas and trends.
11- Ability to lead by example. Have definite rules and standards. Make sure they are followed to ensure good relations.
12- Ability to have business foresight. Know market trends and cycles.
The Twelve Golden Safeguards are as follows:
1- Don't be stingy. Never confuse efficiency with inhumanity.
2- Don't be wishy-washy. Be confident in pursuing opportunities. Time is of the essence.
3- Don't be ostentatious. Do not overspend in order to make an impression.
4- Don't be dishonest. Truth is the only basis for business. Without it someone will get hurt.
5- Don't be slow in debt collection. Without collections, liquidity is affected.
6- Don't slash prices arbitrarily. This will only trigger a price war in which everyone will lose.
7- Don't give in to herd instinct. Make sure the opportunities are real and not part of a craze.
8- Don't work against the business cycle. When things fall in price, they will then rise and vice versa.
9- Don't be a stick-in-the-mud. Keep up with things and make progress. Examine new things objectively.
10- Don't overbuy on credit. Credit is not license to spend wildly.
11- Don't under-save (keep reserve funds strong). When business is slow, one with money can expand while others close.
12- Don't blindly endorse a product. Make sure your vendors are still following standard operating procedure.
60 görüntüleme
Yorum yapabilmeniz için giriş yapmanız gerekmektedir.