How does the man working behind the counter of a mom-and-pop diner for twenty-one years turn a good idea into a restaurant chain worth $2 billion in annual sales? The answer: by following good old-fashioned business rules.
As we reach the midway point of Chick-Fil-A Week here at The Christian Entrepreneur, I wanted to share with you Truett Cathy’s list of dos and don’ts that he credits with his entrepreneurial success.
This list is an excerpt from his book, How Did You Do It, Truett? What I love about this list is that there isn’t a complicated item on it. It just goes to show you that sometimes keeping it simple really is the best way to go.
11 Dos & Don’ts of Proven Entrepreneurial Success
#1 Don’t Be Burdened with Personal Debt
#2 Start Early (as a Teenager if Possible)
#3 Sacrifice Material Things – Reward Yourself Later
#4 Observe what is Working in the Lives of Others
#5 Don’t Try to Please All People
#6 Set Priorities in Proper Order
#7 Grow Your Business Cautiously
#8 Use Caution when Considering Franchising
#9 Be Prepared for Disappointments
#10 Be Kind to People
#11 Invite God to be Involved in Every Decision
Which Ones Hit Home with You?
What a great list! The most common mistakes I see among my clients are #1, #7, and #9. I think these are commons struggles among entrepreneurs. They were hard for me, too. Which dos & don’ts are you struggling with in your business?
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{ 2 comments… read them below or add one }
I will guide my son who is just 5.5 yrs old now to start early if he is really interested in being an entrepreneur. Great advice @Brad
Tinh recently posted..AZBlogTips January 2011 Revenue Summary
Thanks, Tinh. The best thing we can do for our children is set a great example and take time daily to teach them. Money and business is one of those areas I think parents often neglect when raising their children. I like the word you used in your comment – guide. I applaud your commitment early on in your son’s life to be that guide.