Making money was the unofficial vision, mission and value statements of one of my mentors. It simply meant that if everyone at the company performed in a way that contributed to bringing money into the company, we all benefited. I have found that many people hate to say that they are in business to make money.

But there are a lot of good things that are only possible when a company is profitable. Making money allows us to provide good compensation packages, benefits and vacation time for employees. Employees in turn can help companies (and customers) by providing products and services in the highest ethical manner to advance their customers businesses to make money.

I was accepted into Helzberg Entrepreneurial Mentoring Program (HEMP) in 2005, when our business was 6 years old. “Giving Back” to the community was one of the criteria of HEMP’s acceptance process. I can still hear Barnett Helzberg telling me to be careful in the amount of time I was spending away from growing our business while donating time to charity. These words were coming from one of the most charitable men I had ever met. The message was clear, and balance was the message. Make sure your business is profitable so you can be charitable for a long period of time. Make sure your business is healthy and filled with great employees in a positive culture.

And once you’re solidly profitable? My philosophy on giving has been to start small and stay local. We support efforts that benefit our local school and church programs, and I try to look for smaller programs, which often receive a greater benefit from donations.

Growing a Business

• Have a realistic, complete business plan.
• Establish mission and values.
• It’s the money—learn how to make it.
• Employ the right people.
• Know what you don’t know.
• Make sure that you have all the current and accurate information available to best operate your company, and follow it daily.
• Keep networking.
• Build relationships with your financial partners.
• Form a board of mentors.

Operating a Business

• It is still about the money. Learn how to make it.
• Hire the best people. Have good hiring protocol and HR management to take care of your employees.
• Have good credit culture. Manage the cash, and know the technical side of your business.
• Know your customers.
• Know your suppliers.
• Lead by sharing authority.
• Communicate and share all proper information on the company’s activities and plans.
• Put your vision to work in growing your business.
• Recognize and reward your associates.