10 lessons I learned running a small business

Richard Gauder May 11th, 2012

After over 10 years in business, you learn lessons and accumulate knowledge. Here are a few key lessons I personally learned along the way. Enjoy!

1. Revenue is great, but it’s what you keep that is more important.
2. Cash flow, cash flow, cash flow. Did I mention cash flow?
3. No sales, no business … period.
4. Where you start is not where you end up. So. don’t fret about the small stuff early on.
5. It’s about the business model – the system of making money.
6. There are good decisions and bad ones, but the worst decision is no decision. Those keep you up at night.
7. It’s the people that focus on price and discounts that cause you the most grief.
8. If you can, only deal with people you like. They refer nicer people and life is just happier.
9. It’s okay to fail. You learn more quickly and you’re not afraid to try new things.
10. Have good advisors around you, the ones that have been where you are.

Have any? Please add to the list!