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10 Things to Remember in Business

Discussion in 'Ebay' started by toml3030, Apr 8, 2016.

  1. toml3030

    toml3030 Elite Member

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    1. Shut the fuck up when you're in the room with someone who's been doing it longer and more successfully than you. You yapping in this situation is just noise. It's amazing how much you can learn if you just watch and listen to people who're more successful than you.

    2. Do not go out of your way to be an asshole to someone no matter how much that person is an asshole to you. You many need that person for something later. Do not burn bridges.

    3. 50% of the employees do 90% of the work. Do not nickel and dime the good 50% and do not hesitate to cull the bad 50%.

    4. If you get big enough, your chinese suppliers will try to screw you. It's not a question of if they will, just a matter of why and how.

    5. Do not trust anyone who's not been in business at the same location with the same name for at least 2 years.

    6. Keep your tax situation under control. Remember, IRS can seize your stuff without having to prove anything. Straighten out any tax problems as soon as it arises. Even if there's a problem and you don't ever hear about it for a year or two, they'll eventually come after your. They're slow, but they'll get what they want in the end.

    7. You have to keep better records than the other guy, because you're going to lose most disputes if the other guy has better records than you.

    8. If it involves a lot of money, don't worry about spending $300 to get a lawyer to go over the contract and explain it to you.

    9. Three most beautiful words in English language are "CASH UP FRONT". It's better to be paid up front with 20% margin than to be paid in three months in 30% margin.

    10. Never believe anything someone says just because who they are. Check for yourself.
     
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  2. jamie3000

    jamie3000 Supreme Member

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    I agree with all your points but especially number one. Nothing more annoying that a person who thinks they know everything when they obviously know very little about a subject but put on a big front!
     
  3. mangobull

    mangobull Newbie

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    nice write up!!!
     
  4. toml3030

    toml3030 Elite Member

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    The most dangerous amount of knowledge is knowing enough to make you talk about it, but not enough to know how much you don't really know.
     
  5. amoon

    amoon Jr. VIP Jr. VIP

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    great share,
    I liked the number 9 *Cash up front* I can't wait for 3 or 6 months for more margin,
     
  6. deadsoul1

    deadsoul1 Junior Member

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    In business, if I may add, Recurring income & clients are always better than one single-time sell. Recurring brings in stability.
     
  7. ngriffin360

    ngriffin360 Newbie

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    Sage advice - studies have shown a inverse correlation of how much one knows about a subject or skill set and how much one believes they are an expert or skilled. Often the ones most vocal and orotund on a subject are the most ignorant..where those what have deeper understanding recognize the limits of their knowledge and will absorb as much as they can to fill in the gaps they recognize are there.
     
  8. loedown

    loedown Jr. VIP Jr. VIP

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    I live by #2, never burn bridges.
     
  9. jimmcdonald

    jimmcdonald Registered Member

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    so in short be a good person and use common sense...oh well that rules about 99% of people out then
     
  10. Mick007

    Mick007 Newbie

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    thanks for the good advice appreciate it