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.