Just got back to Maplewood, NJ from a big Keller Williams Convention in Dallas where I saw the author, Dave Ramsey, speak about personal finance. I have to say I was somewhat skeptical but what he had to say really makes a lot of sense and corresponded very closely to some of my own personal principles. Here are Dave’s 5×5 for business and success. No matter what industry you are in they are good food for thought:
1. People Matter- All of your customers have a story. Don’t forget that they are people and that you need to appreciate them and where they are coming from.
2. Incredible Teams and a Culture of Excellence Matter. You can’t do it alone. Take time to find the best talent and don’t rush into hiring people until you are sure they are a good fit. If you want to retain the best talent enforce high standards for all. Dave says, “donkeys don’t run with thoroughbreds”.
3. In business, slow and steady wins the race. Think: The Tortoise and The Hare.
4. Financial Principles Matter: stay out of debt, stay on a budget, save money for emergencies, live on less than you make, be generous with your money.
5. A Higher Calling Matters. If you are driven by a higher calling whether it be making money to give money away or creating a successful company so that your employees’ families will thrive, you will be more successful in business if you have a purpose for what you do other than simply making money. Being a leader is being a servant and being successful comes with responsibilities.