When you are making a decision about how best to serve your customers, your own experience is often a better guide than a more sophisticated analysis of the market.
Sometimes the riskiest decision you can make is to do nothing.
My number one rule in business, and in life, is to enjoy what you do. Running a business involves long hours and hard decisions; if you don't have the passion to keep you going, your business will more than likely fail. If you don't enjoy what you are doing, then you shouldn't be doing it.
What's the most critical factor in any business decision you'll ever have to make? Basically, it boils down to this question: If this all crashes, will it bring the whole house tumbling down like a pack of cards? One business matra remains embedded in my brain - protect the downside.
It always pays off to focus on things that will make you feel proud. Remember this during every difficult decision you face.
I am a great believer that you need passion and energy to create a truly successful business. Remember many new businesses do not make it and running a business will be a tough experience, involving long hours and many hard decisions - it helps to have that passion to keep you going.
I felt uneasy about making the rapid decisions I have always made, and wondered whether every decision should be formally ratified and minuted at a board meeting.
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