by Mick Daly, Daly Enterprises Inc/Juice Plus+ …
Revenue-Generating Tips From Rabbi Daniel Lapin.
He is known worldwide as America's Rabbi. He is one of Dave Ramsey's favorite authors.
In his best-selling book, Thou Shall Prosper, he gives the 10 commandments for making money based on the established principles of Jewish tradition.
Here are the rabbi's top three tips for business success.
#1. Have Some Heart
In today's business world, where a customer can buy just about anything anywhere with a click of a mouse or a touch of the thumb, competition is fiercer than ever. So how do you stay ahead of the game? It's all about service, says the rabbi. When you genuinely serve your clients, the money will follow. And that servant attitude begins deep inside you. “The journey of that 18 inches from your head into your heart is critical,” he says. “It's what really changes our behavior and produces a much more successful outcome.”
#2. Learn to Read Your Financial Statements
According to the U.S. Small Business Administration, only two-thirds of small businesses survive two years. The reason they flop? Poor accounting. Most entrepreneurs or small-business owners have a basic idea of the bottom line, Lapin says, but don't really understand balance sheets and cash-flow statements. It's a huge mistake, since both give a better understanding of financial condition and warn of any potential problems. The good news is it's not rocket science. It can be easily learned if you are willing.
It might sound ludicrous and basic, but watch three hours less a week of television and use that time to learn, Lapin says. Take an online course or get a book and teach yourself. By the end of the quarter, you'll actually be able to read financial statements. It will change your world.
#3. Stop Doing Everything Yourself
Sometimes it's really hard to let go, especially when it comes to something as important as the dream you built. But in order to grow your company, you have to allow others to help you win, since one of the greatest investments you can make is in your team. “You are not saving money by using up your time doing things that you could hire somebody to do for you. […] You might say, 'Well, I don't have the money to hire people.' So hire the right person. And if necessary, give them a little slice of the pie.” Lapin says.
Running a business is never easy. But with the right attitude, education and willingness to let others help you, it doesn't have to be tough. In fact, it can even be soul-satisfying. And then, everyone wins.