Truisms are concise statements of wisdom derived from experience, offering valuable insights into effective management practices, such as the importance of measurement, decision-making, employee development, and recognition.

Primary Implication

One can either go through life reinventing the wheel or learn from others who traveled similar paths before you.  Those who fail to “always be learning” are more likely to experience costly mistakes than those who always learn from others and their own experiences.

Overview

Truisms are encapsulated words of wisdom gathered from the experience of those who have traveled similar paths before you and me.

1. Your efforts as a manager do make a difference; some efforts matter more than others.
2. Information is a valuable tool and is an essential component of the vital work of planning, organizing, and measuring results.
3. You cannot manage what you cannot measure.
4. You must decide, or the world will decide for you.
5. Organized chaos is better than complete chaos.
6. A manager is an enabler. If you cannot tell someone precisely what you expect from them, then you cannot expect a specific performance from them.
7. Developing the skills and assets of employees is the responsibility of every manager. It is also the easiest way to achieve higher profits.
8. Specific and individual performance recognition, if fair and accurate, is very motivating.

At its core, profitable business management comes down to being more proactive and less reactive in managing the cash flowing through your business.  Following the flow of money through your business tells you when and where management action is needed to ensure your operations are making and holding onto the money they should be.