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Street Smarts: Secrets of a $110 Million Man | Printer-friend...

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Saved by 15 people (-4 private), first by anonymouse user on 2008-12-30


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6. You have no friends in business, only associates.

Highlighted by charliegraham

1. Numbers run a business. If you don't know how to read them, you are flying blind.

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2. A sale isn't a sale until you collect.

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3. When your short-term liabilities exceed your short-term assets, you are bankrupt.

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4. Forget about shortcuts. Run a business as if it's forever.

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5. Cash is hard to get and easy to spend. Make it before you spend it.

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6. You have no friends in business, only associates.

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7. Don't focus on the top line. Gross margin is the most important number on the income statement.

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8. Identify your true competitors, and treat them with respect.

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9. Culture drives a company. In the long run, the boss's most important job is to define and enforce it.

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10. The life plan has to come before the business plan.

Highlighted by buluzhai