Point #1 seems weird to me, because money is easy to pile up and you can get it from anywhere, but work is hard.  When I can contribute time or money, I always choose money.

Perhaps it's different on business scale -- some angel who can contribute $10 million to your venture is worth more than most any worker.

Yeah, where can I get these piles of money?

I agree wholeheartedly I have owned my own business since 1997 and have had my own lessons that I have learned .Funny they nearly mirror what you have expressed . I will add to

#4...Never make a final payment to workers / employees / subcontractors until completion of the project !!! No incentive or motivation leads to unfinished projects!!!

#6 - Don't play the game unless you're willing to lose it all.........

#7 - "If you wait until all the lights are green, you will never get the car out of the garage."

My oldest friend died a few weeks ago from terminal cancer. So it is something I am familiar with.

My point still stands. When it comes to business risk capital trumps time.

Employees are rungs on the ladder of success - don't hesitate to step on them...

H4RDSTYLE

And that's a very good point. Never thought about it like that, but it does make sense. So what you mean is that giving people more than you initially agreed with, eventually gives them a sense of 'entitlement' instead of 'gratefulness'?

"5 Cold Realities" may be common sense, but (as Charlie "Bird" Parker once said) "If you don't live it, it won't come out your horn."

When you lose capital, all you have left is sweat equity. And if you don't invest the sweat, capital alone won't get you there. So I don't see how one trumps the other or makes one "worth more". Some people can invest $1500 and turn a business into a multi-million concern. Others can risk everything and lose it due to changes in the market or destabilizing world events (aside from "mismanagement").  The "cold reality" is that there's a measure of luck in the equation, no matter the capital or sweat. The only counter-measure to that IMHO, is persistence.

#3 has nuance too. There's times when you have to rely on "gut instinct" and I'm firmly in the Richard Branson camp of "Screw Business As Usual". While I agree that logic should always be applied and check emotion, I can't agree it's an absolute. Given the context for that pemise as stated, it's a starting point.

I've only approached #4 from a "service provider" prospective, and feel it's crucial to have/get genuine appreciation and respect for quality. That doesn't have to translate into a bonus everytime, but neither does it mean it should be taken for granted. Every job has value, from the trash collector to the committed manager. With rationalizations for the opposite POV on the rise (once again), not to mention things like lead being part of maximizing profit, there can't be too much nurturing.

As the motto of a certain company stated "Do The Right Thing."

Thanks for the discussion.

sorry, wrong thread

#4 is what intrigues me the most.  Compensation?   Okay, so, have a clear compensation system.  I get that.  What I don't get is not to pay compensation to build good will.  You mean don't pay bonuses?   What is the incentive for giving my heart and soul to my job?   If we agree on a clear plan that "you are paid X to do Y"-- then I will do Y, for 40 hours a week, then I go home.  But if we say, "here is a stretch goal.  Attain this, you get a bonus, because you make this impact to our bottom line"...now you've caught my interest.   I had this conversation with my boss before.  Instead he came back and said, "here is a stretch goal.  Attain this, you get to keep your job."   I don't work for him anymore.

I've learned two over the past three years:

1. Work at least as hard as your hardest working employee. Just because you have people working for you, doesn't mean you can relax.

2. Learn the difference between true criticism/flaws and negativity/fear.