Management Quotes

As entrepreneurs we raise capital from three groups of people. They are your customers, investors, and employees. If you have employees, your job is to get them to produce and make at least ten times more money than you pay them. [2008] - Robert T. Kiyosaki

List the six most important things you need to do and, by hook or by crook, get those six things completed each day. Your six most important things should take about six hours. Put the most important task first. Spend 80 percent of your time on results-oriented work and only 20 percent on everything else. [2007] - Chet Holmes

Three Ps: planning, procedures, and policies. Schedule at least one hour a week to work on the three Ps. [2007] - Chet Holmes

96 percent of all businesses fail within 10 years, with 80 percent failing within the first two years. The top reasons for failure include bad customer relations, bad budgeting, lack of staff training, failure to anticipate market trends, and poor and inconsistent marketing. [2007] - Chet Holmes

Keeping your expenses down is the second most important factor in business success (ranked second only to finding a product/service you can sell at a profit). [2006] - Scott Fox

Keep your legs together in business meetings. [2004] - Allan Pease

A company's key to competitive advantage is to project forward five years and identify the core competencies and skills it will be need to be a market leader at that time. [2004] - Brian Tracy

The customer is always right. Customers are incredibly selfish. They want the very most for the very least. To please the demanding customer of today and tomorrow, you must develop the habit of continually improving what you sell, the habit of moving quickly on opportunities or problems and of doing things quickly to satisfy your customers, and the habit of flexibility. [2004] - Brian Tracy

Seven Habits for Business Success: 1. Plan thoroughly (Six P: Proper Prior Planning Prevents Poor Performance); 2. Organize the people and resources before you get started; 3. Find the right people (95 percent of your success as an entrepreneur or executive will be determined by the quality of the people you recruit); 4. Delegate wisely; 5. Inspect what you expect (proper supervision); 6. Measure performance; 7. Keep people informed (report results regularly and accurately). [2004] - Brian Tracy

The Foundations of Business Success: 1. Think continually in terms of increasing productivity. 2. Think in terms of customer satisfaction all the time. 3. Think in terms of profitability all the time. 4. Think in terms of quality all the time. 5. Think in terms of people building. Spend time with the most important people in your business. Ask them for their opinions. Compliment on them on their accomplishments. Take them out for coffee or lunch. 6. Organizational Development. 7. Continuous innovation. Have a company suggestion box. Offer a financial prize ($5 or $10) each week for the best idea to increase sales or cut costs. Be a leader, not a follower. [2004] - Brian Tracy

The reasons for business failure have been high interest costs, changes in technology, poor management, or under-capitalization. Often it is high inventory relative to sales or too much debts. Businesses succeed because of high sales; businesses fail because of low sales. [2004] - Brian Tracy

The Seven P Formula: product, price, promotion, place, packaging, positioning, and people. [2004] - Brian Tracy

If you are your own boss, there are usually three tasks or activities that account for 90 percent or more of the value that you contribute to your work or business. Spend more time, and become more skilled, at those few activities that contribute the greatest value to your work. [2004] - Brian Tracy

The ABCDE Method: An "A" task is something that you must do; A "B" task is something that you should do; A "C" task is something that would be nice to do; A "D" task is something that you can and should delegate to others; An "E" task is something that you can and should eliminate as quickly as possible. [2004] - Brian Tracy

Spend only money that your business has generated. [2004] - Gary Keller

Companies that successfully minimize their start-up cost and debt before they open for business and start generating revenue quickly have a much better chance of survival. [2004] - Gary Keller

Operating expenses include marketing, rent, salaries, equipment and suppliers, advertising, etc. As your business grows, this can reasonably be held at or below 30 percent of gross revenue (GCI). [2004] - Gary Keller

Lead-generation costs should be about 10 percent of your gross income. [2004] - Gary Keller

The ultimate business goal is to have a success business run by other people! [2004] - Gary Keller

The best possible way to get documented standards for your business is to have the first person you hire document the way you what things to get done. The secret to succeeding this way is to start the documentation process early, work on it often, and never stop. [2004] - Gary Keller