How to minimize risk in business:
- Never hire whom you cannot fire: Your in-laws, brothers and close friends may assist, not an employee.
- Knowledge is power: Know the business in and out.
- Money is easy to spend than to make, therefore reduce your expenses by half, do it yourself.
- Never trust yourself let alone of someone from somewhere.
- Your appetite will determine how far you will go: Not luxury first I.e. a lottery winner will become poor later.
- See everyone in your business as destroyer so secure yourself until he or she proof otherwise.
- No security for you from the government, so get one.
- Watch your tongue, next person by your side may be an informant.
- Give, do not lend out.
- Document every details: The faintest ink is better than the sharpest brain.
Good post for businessmen
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