I read this a long time ago, clipped it, and mounted in on my office wall where I can always see it. It continues to be relevant to this day. (Sorry, I have forgotten who the author is.)
Here are basic principles for running a small business.
Ten commandments of a small business
***Thou shalt not worship graven images of thyself or thy ego, but know thy limitations
*** Thou will never go broke underestimating thy own abilities.
*** Honor thy accountant and controller as prophets and follow their words of wisdom as the Gospel.
*** Thou shall do for yourself rather than have layers of management do for you.
*** Thou shalt not bear false witness to the concept that volume solves all evils.
*** Thou shalt not steal sales from next month’s budget to show this month’s profit.
*** Thou shalt not covet thy competitor’s business, but try and profit from his mistakes.
*** Thou shalt not kill the urge to expand, but never beyond the ability of management to control.
*** Honor cost reduction and inventory controls, for they are the mother and father of profit.
*** Remember thy markup and keep it holy.
*** Love thy customer as thyself.
Chona R.
Mandaluyong City
Photo: “<a href=”http://www.flickr.com/photos/51519468@N06/5304492399″>The 10 Commandments</a>” by <a href=”http://www.flickr.com/photos/51519468@N06/”>John Taylor</a>, c/o Flickr. <a href=”http://creativecommons.org/licenses/by/2.0/”>Some Rights Reserved</a>