By Michael Masterson
- Hard work
- Long hours
- The ability to focus
- Marketing know-how
- The will to carry on when faced with any obstacle
1. The customer is always right. Even when he is wrong.
2. Don't promise what you know you can't deliver.
3. Honor your verbal contracts with the same seriousness as you honor written agreements.
4. When negotiating, always aim for a deal that is as good for your partner as it is for you.
5. If a deal turns out badly for your partner but stays good for you, change it to be fair to him.
6. Always pay your employees as much as or more than they are worth - or, if that is impossible, as much as you can afford to pay them, with the promise of making it up to them later.
7. Share your business wisdom with everyone, including your competitors.
8. Never engage in gossip. Speak as if the person you are speaking about will find out what you are saying. (Because he will.)
9. Never take advantage of your vendors simply because you can. Your goal should be to compensate them fairly, even if it means paying them more than the market demands.
10. Never engage in recriminations and try to avoid litigation. In the long run, it is better to be thescrewee rather than the screwer.