SUCCESS?
1) Develop a long-term model that you can use to make endless decisions with.
2) Decide, instruct and act decisively and consistently in accordance with that model. Big decisions are not as impactful as the thousand decisions everyone makes every day.
3) Reduce your model to a mantra or phrase that all staff can use to make concurrent decisions in the multitudinous tie breakers that face all of us when choosing between relatively equal outcomes. Otherwise they will act in their own interests, or with false economy on those thousand little decisions every day.
4) Generate opportunities that you can act on far in advance when they are very cheap. (Act on what is important but not urgent.) Make lots of cheap early bets. Plant lots of seeds.
5) In the face of complexity, choose the solution that covers most bets while accomplishing the central objective, not the most efficient or optimum solution.
6) Revise your model whenever possible to accommodate new learning.
7) Act as truthfully, morally and ethically as possible with your peers and subordinates, and as ruthlessly as possible with competitors. A good reputation produces discounts on all actions and transactions.
8) Attract, Build, and Keep Key Talent. Dispose of weak talent.
9) Be extremely jealous of your think-time, and make sure you get plenty of it.
10) Investors are creditors, not friends.
11) Work in the interests of your customers and staff and they will take care of your investors. You can’t do it any other way.
12) Work more than anyone else does. Because hard work is all that makes a marginal difference.
Source date (UTC): 2015-07-07 11:03:00 UTC