Wednesday, September 29, 2010

Ten Commandments for New Businesses

1. Your business must have a purpose; and fulfilling this purpose would lead to ‘making money’.

2. Your business must have a positive impact on the society; its long term profits would equal the positive impact created, and negative impact will result in losses.

3. The key to business success will NOT be who you know, but what you know.

4. Your business will be as strong as the relationships between its people.

5. Your business will be global, with a significant portion of either its supplies or its sales or its employees, or all of these three, coming from outside its immediate geographic region.

6. No matter what you do, your business will be an Internet business: The pathway from Google will be the passage you will need to decorate, and keep clean, every morning.

7. The words ‘tenure’ or ‘permanence’ will be as popular as ‘my lord’ and ‘Your Highness’ in the world of business.


8. Innovation and Marketing will be the only two income generating functions of your business; everything else will be costs. (As Peter Drucker said)

9. There will be no ‘best practises’ for you to learn, except that you will have to keep exploring and learning.


10. Consumer will be your God; Competition his lightening rod; Conscience will be your compass; and Contentment will lead to bankruptcy and liquidation.

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