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Rules for Business & Life

  1. Say what you’ll do and do what you say.
  2. Take responsibility – avoid blaming.
  3. Understand and use the numbers!
  4. Assess/understand your strengths, weaknesses, capabilities, and limitations.
  5. Balance your life – take care of your mind, body, soul, and relationships as well as your business.
  6. There’s a time to think and a time to act, learn the difference and apply consistently.
  7. Always look for a way to change the rules.
  8. Look for patterns.
  9. Don’t worry too much about what others think.
  10. Management follows leadership.[1] Know which is your strength and obey/respect this truth.
  11. Understand your motivations; don’t deny them but rather embrace and use them fully.
  12. Helping isn’t rescuing; dependence is a powerful tool.
  13. Always search for change, respond to it, and exploit it as an opportunity.
  14. Monitor the following seven sources for innovative opportunity:[2]
    • The unexpected success, failure or outside event
    • The incongruity between reality as it actually is and as it is assumed to be or “ought to be”
    • Process need
    • Changes in industry or market structure
    • Changes in demographics
    • Changes in perception, mood, and meaning
    • New knowledge
  15. Innovate and Integrate – when possible, innovate; regardless, integrate the best ideas and practices from every source available. The key with integration is to throw out the bad and keep the good from each source. Easily said…
  16. Hire and promote first on the basis of integrity; second, motivation; third, capacity; fourth, understanding; fifth, knowledge; and last and least, experience. Without integrity, motivation is dangerous; without motivation, capacity is impotent; without capacity, understanding is limited; without understanding, knowledge is meaningless; without knowledge, experience is blind. Experience is easy to provide and quickly put to good use by people with all the other qualities.[3]
  17. Corollary to #16: Hire slowly; fire quickly!

[1] The 7 Habits of Highly Effective People by Stephen Covey
[2] Innovation and Entrepreneurship by Peter F. Drucker
[3] attributable to Dee Hock