10 Commandments of Business
The only business book I have ever enjoyed or taken value from is Norm Brodsky's book Street Smarts. In his book, he lists his Ten Commandments of Business:
- Numbers run a business. If you don't know how to read them, you're flying blind.
- Cash is hard to get and easy to spend. Make it before you spend it.
- Don't focus on the top line. Gross margin is the most important number on the income statement.
- A sale isn't a sale until you collect.
- When your short-term liabilities exceed your short-term assets, you're bankrupt.
- Forget about shortcuts. Run a business as if it's forever.
- Identify your true competitors, and treat them with respect.
- You have no friends in business, only associates.
- Culture drives a company. In the long run, the boss's most important job is to define and enforce it.
- The life plan has to come before the business plan.
I agree with all 10 of his Commandments. If you do too, we will be on the same page and will work well together.