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My General Business Rules:

Every investor has certain habits and its important to recgonize what those are. We’re creatures of behaviour – so studying the 5W’s & how we each do things can drastically help you to improve & evaluate your investing approach.

There are a few general business rules I follow that I’ve learnt, experienced or recognized over the years. Although some are incorporated into my “Value Approach“, I often talk to friends or professionals about why each holds such importance in conducting good sound, fundamental business.

– Never compete on price
– Pay attention to sales: 5% Rule
– Attract $1 customers
– Focus on what you do best and never forget
– Turn customers into clients
– Continuously develop, implement & evaluate strategic goals
– “Successful management is achieving results through others”
– Focus & emphasis on the Product Life Cycle
– Look for & create a Sustainable Competitive Advantage
– Hold & develop & maximize key assets
– Sales Management depends upon: Motivation, Compensation & Training
– People can be as valuable as any technology or product
– Cash-flow is King
– Rule of 72
– Let money & debt work for you
– Shop stocks like a woman
– Creativity comes from “thinking outside the box”

From time to time I will be posting longer explainations on each in order to help viewers of the blog understand the importance of each, how it relates to success and how to identify such trends in prospective companies when utilizing an investing approach.

{ 2 comments… add one }
  • Anonymous June 15, 2007, 12:44 am

    As an aspiring entrepreneur and business student, I am intrigued by some of these ideas (the 5% rule, $1 customers, rule of 72?). I look forward to reading on them more in depth!

  • Nurse B, 911 June 17, 2007, 7:28 am

    It’s important to remember that much of this you won’t ever learn directly in business school. Main concepts, theories and practice are based largely on textbook examples, where as much of what I’ve written here is what I’ve learned by applying common sense & theory from the classroom into real life experience.

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