Sixteen Principles of Good Business
Custom Search
1. Be Prudent and industrious in business ( Laziness dooms all ventures )
2. Maintain expenditure at its minimum ( Extravaganza erodes capital )
3. Be friendly in dealing with others ( Impatience entails loss of business )
4. Grasp the right moment to close a deal ( Procrastination is the thief of golden opportunity )
5. Be lucid in setting down the terms of the transactions ( Ambiguity breeds contention )
6. Be discreet in offering credit facilities ( Undue generosity corrodes capital )
7. Audit all accounts carefully ( Laxity hampers flow of funds )
8. Distinguish between the good and the bad ( Indifference paralyses the enterprise )
9. Manage the stocks systematically ( Prefunctory management creates a total mass )
10. Be just and impartial to the staff ( Bias brings inefficiency )
11. Exercise due caution in all payments and receipts ( Negligence attracts costly errors )
12. Examine the merchandise before acceptance ( Indiscrimination causes unprofitability )
13. Observe strictly the terms of payment ( Late settlement damages trustworthiness )
14. Be judicious and honest in money matters ( Mismanagement promotes corruption )
15. Be responsible in the face of adversity ( Irrresponsible aggravates the problem )
16. Be cool, calm and confident ( Recklessness hinders daily dealings )
