Review the outcome of all jobs completed by your company, and focus on profits. Customer service does not have to result in lost profits. Effective owners employ people with integrity and competence, and respect their employees. To earn respect from your employees, promote from within. Never place a relative in an unearned executive position over tenured, qualified employees.
Good managers balance a good sense of humor with the ability to apply stern, firm direction.
Know a lot about your customers-where they sell their products, economic conditions in their markets, etc. Watch for economic changes with your customers. Understand the terms of loan agreements and borrowing conditions, and contact your banker regularly to discuss your operating condition. Always follow through on advice from your banker. They are aware of their competition and their desire to succeed.