Some business basics never seem to change.  While I am not a “list” guy, any list of my business basics would certainly include the following:

1. Successful business relationships share the same traits with successful personal relationships. Successful long-term relationships are based on openness, honesty and transparency.  Regardless of the nature of a relationship; marriage, friendship or business, all truly successful ones include these traits.

2. Always say thank-you!  Thank anyone who gives you some of their time, no matter what the purpose or outcome; if someone gives you their time, than find the time to thank them.  Handwritten thank-you notes have become a lost art form, but taking the time to write one always leaves a positive impression.

3. Diversity is NOT a Department of Labor statistic.  Surrounding yourself with people who think differently than you helps create significant business/competitive advantages (assuming that you are accepting of their ideas and opinions).  A diverse workforce brings rich life/cultural perspectives to creative (“out of the box”) problem solving.  Think of the “box” as your own personal constraints and views so unless you find people who “live outside the box” you won’t “think outside the box”.  

4. Talk with your employees.  Open and honest communication, even if delivering bad news, is appreciated when it comes from the boss.  While employees may not like specific “news”, they will appreciate that it came directly from you and that you took the time to explain it.

5. Profit, by itself, is not a reliable measure of success.  If your goal is to be successful in the long-term, then performance and profit are more reliable measures of success.  

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