George works with Bio Fuels Energy Corporation.
I wanted to pass along his “Rules of Business” for your consideration.
George’s Guide for Managers
1. You never want your revenue dependent on machinery or people running at 100% capacity.
2. Never base a business on an input that only comes from a single vendor.
3. Morality counts. If your business associate cheats on his wife, you’re next.
4. Evaluate a potential employee’s honesty and integrity BEFORE you hire him.
5. Worst Case Scenario: the business is up and running and there is some positive cash flow, but when the startup capital is gone you can’t meet payroll.
6. When your outgo exceeds your income, your upkeep will be your downfall.
7. All things being equal, size will dominate the market, but size doesn’t matter if you can sell it cheaper than he can make it.
8. Keep your priorities straight: God, Family, Business.
9. The ultimate key to success: Find something you would be willing to pay to do, and find someone who will pay you to do it.
10. You know you are getting old when you have more friends at the cemetery than at the coffee shop. So make more friends at the coffee shop.
11. Find a good woman and spend the rest of your life making her think she is queen of the universe. (She will make sure you are the King of Oak Street).
12. The two most important people in any organization are the janitor and the receptionist, the third most important is the mailroom clerk.
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