I had a fantastic time at the Chick-Fil-A Leadercast yesterday. Along with thousands of other people on site, and many more thousands around the nation, I enjoyed 20-minute presentations by inspirational business leaders, including John C. Maxwell, Seth Godin, Allison Levine and Suzy Welch. One of my favorite speakers was Dave Ramsey.
You may know Dave for the personal financial advice he delivers in books and a television show. He has a fantastic sense of humor. He speaks from his heart, and shoots straight from the hip. I like that. Yesterday, he offered five reasons to explain his phenomenal business success. Paraphrasing of course, here's what he said:
- People matter. Your management team, staff and customers are people. They are not replaceable commodities at your beck and call. Your customers aren’t units of revenue. Your team isn’t units of production.
- Fire the jerks. Dave gives one warning to employees who violate company policies (including a zero tolerance gossip policy). After that, he invites them to find another job.
- Slow and steady matters. Don't grow so fast that you cannot keep up with yourself. Take measured steps toward specific goals. The tortoise always wins. (This reminded me of this blog post.)
- Be financially fit. Manage your money wisely. Live on a budget. Don't carry debt. Debt magnifies your mistakes.
- Embrace a higher calling. You'll play harder and act smarter by playing for something that's bigger than you.
Dave knows what he's talking about. A real estate business he once owned was so heavily in debt that Dave was forced to file for bankruptcy. He has turned that situation into a debt free business that helps others avoid getting into the same type of financial situation he had been in. You can learn more about him at his website.
I had a fantastic time, and you can check my Twitter stream from May 6 to get some great tips I Tweeted live during the event. You may also enjoy browsing the #cfaleadercast Twitter hash tag to see what others shared. And you'll enjoy Brian Dodd's post: 50 John Maxwell, Seth Godin, and Dave Ramsey Leadership Quotes From The Chick-Fil-A Leadercast.
Question: What do you think of Dave's advice? Do you follow these basic principles?