On running a business

What would be your rules, regardless of what kind of business you were going to start, on running that business?

Never give up controlling interest.

Never take on a partner who doesn’t have skin in the game.

Always be the one who signs the checks.

Always be the one who maintains the key business relationships.

Always draw a hard line between business and personal relationships.

Always use contracts, and document everything.

Never give the government a reason to look at you.

Always be prepared for either a lawsuit or an audit.

Always know your numbers. No one should ever be more familiar with the general ledger than you.

Never forget why you are in business.


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