68 Undeniable Truths of Business Ownership

The longer I’m in business, the more convinced I am that certain truths exist when it comes to leading a business.  What follows is a list of the Undeniable Business Truths.

  1. God created business for His glory. It really is all about Him.
  2. God calls some to own businesses.
  3. Your business is an entrustment from the Lord, to be used for His glory and the benefit of His kingdom.
  4. A violation of God’s commandments in business will harm your business.
  5. Success depends more on character than skill
  6. Culture trumps strategy.
  7. Incivility can kill your culture.
  8. You cannot part-time your way into success.
  9. Someone must be clearly in charge.
  10. Your company is your people.
  11. “Listening” occurs only when the other person understands that you understand.
  12. What you say and do will be scrutinized beyond anyone else in the organization.
  13. A business is not a democracy.
  14. Rumors: you’ll be the last one to hear them.
  15. You will be misunderstood, misrepresented and misinterpreted.
  16. People can and will lie to you.
  17. You will need to execute better than anyone else in your organization.
  18. The more you integrate your faith into your business, the more Satan will oppose you.
  19. You will take risks on a regular basis.
  20. Success never endures.
  21. Failure need not be fatal.
  22. What gets measured is what gets done.
  23. Hiring the wrong person for the right job is worse than not hiring anyone.
  24. The truth is never the problem.
  25. Reality is your friend, because everything else is fantasy.
  26. People will think you are rich simply because you own a business.
  27. Rarely will employees tell you the full, unvarnished truth.
  28. Your business must be profitable.
  29. Profits are good.
  30. A proper focus on process is tantamount to a proper focus on profits.
  31. Some people are incredible number two’s and lousy number one’s.
  32. Profits come as conflict is resolved.
  33. You can’t get any traction without some friction.
  34. You have the problems you tolerate.
  35. Ignoring problems leaves a lot of success on the table
  36. People will rarely work harder than you.
  37. If you can’t find it, you can’t use it.
  38. If you don’t find a way to disconnect from your business from time to time, it will consume you.
  39. Servant-Leadership doesn’t work when the one being served is arrogant or rebellious.
  40. It doesn’t matter what you want – what matters is what your customers want
  41. You must have an inner passion for the core value your business offers to your customers.
  42. Top performers take ownership of the results and do not try to excuse those or blame someone else for them.
  43. Someone must be responsible for income.
  44. Hire Character. Train Skill.
  45. Few people, if any, will encourage you in your role as a business owner.
  46. Few employees, if any, will thank you for your generosity.
  47. Over-compensated employees tend to whine about not making enough money
  48. Everyone wants the benefits of being an owner, few want the risk, stress, loneliness and exposure to liability that comes with ownership.
  49. There are only three ways you will leave your business: die, liquidate or sell.
  50. Corollary to #49: owners can’t quit
  51. It really is lonely at the top.
  52. Every person in your organization needs to be managed
  53. If you don’t know where you are going, then any road will get you there.
  54. You will make more money working “on” the business than “in” the business.
  55. There is no substitute for effective leadership.
  56. The values you have at home are the values you take to work.
  57. You will need to separate your emotions about your employees from you management of your employees
  58. People support what they help create.
  59. People don’t leave a business, they leave a manager.
  60. Strong moral character and strong leadership are two different things
  61. Some endings are necessary
  62. Blame is the parking break for improvement.
  63. You will not grow without attempting to do things that you are unable to do today.
  64. The immature character asks life to meet his demands.  The mature character meets the demands of life.
  65. The more the business depends on you, the owner, the less valuable it is to a potential buyer
  66. If you have a partner, the buy/sell agreement is the most important document you’ll ever sign
  67. All wealth comes from profitable businesses
  68. The path of least resistance for you or one of your employees doesn’t mean it’s the best path for others in the company or  your company as a whole.
  69. The moment you hire your first employee is the moment at which you stop knowing about everything that’s going on in your business.
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