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Lessons I've Learned as an Entrepreneur

08/16/2016  |  By: David Morgan, CPA/PFS, Chairman - LBMC Financial Services, LLC

  1. Know what you are up against. Assess your competition!
  2. If you are going to bet on something, bet on yourself.
  3. Always keep the main thing, the main thing.
  4. The key to a successful business is a good leader.
  5. It always takes longer, and it always costs more.
  6. You can never do a good deal with bad people and you are unlikely to do a bad deal with good people.
  7. If what you are doing is not working, try something different.
  8. It’s always darkest right before the dawn.
  9. Make good friends with your banker and always keep him/her informed.
  10. When dealing in matters of fairness, err on the side of generosity.
  11. It is much harder to start a successful business in a new industry than in an established industry.
  12. To be successful, you only have to work half days and it generally does not matter which 12 hours it is that you work.
Lessons I've Learned as an Entrepreneur