The Commercial Real Estate Alpha Site

By Dennis Zink

Posted May 29, 2017 at 2:01 AM   

Here are some of my favorite nuggets of small-business wisdom. Many of them are original, some are borrowed, and I can’t remember which is which. But they are all worth absorbing because any small-business owner can benefit from them.
Cash is king; do not run out of cash — Cash is the lifeblood of every business. When you run out, your business is dead!

Don’t reinvent the wheel, just change the spokes — This is my best adaptation of any tip. Just a small change to a proven strategy may make all the difference in the world.
Prioritize by doing first things first and second things never — Always do the most important thing for your business first, and when that’s done, the second one will become the first.
Count everything that’s countable, then determine the most important metrics for your business — These are your key performance indicators, or KPI. Every business should develop its most important numbers. Measure them consistently and constantly.
Hire slow, fire fast — Admit the mistake, face up to it and terminate immediately — it will be better for all concerned. Most companies do the exact opposite — they hire fast and fire slowly.
Inspect what you expect from others — If you ask someone to do something, make sure they did what you wanted and that it was done properly.
“About right” now is better than exactly wrong later — Act now! Don’t procrastinate because you’re waiting for more information.
Hire smart rather than manage tough — You can’t change people and shouldn’t try. Hire for attitude and train for skills.
For all of Mr. Zink’s suggestions, CLICK HERE <—–