Ogilvy’s 10 rules for building and running a business
80 year old David Ogilvy’s advice for building and running a business:
- Remember that Abraham Lincoln spoke of life, liberty and the pursuit of happiness. He left out the pursuit of profit.
- Remember the old Scottish motto: “Be happy while you’re living, for you are a long time dead.”
- If you have to reduce your company’s payroll, don’t fire your people until you have cut your compensation and the compensation of your big-shots.
- Define your corporate culture and your principles of management in writing. Don’t delegate this to a committee. Search all the parks in all your cities. You’ll find no statues of committees.
- Stop cutting the quality of your products in search of bigger margins. The consumer always notices — and punishes you.
- Never spend money on advertising which does not sell.
- Bear in mind that the consumer is not a moron. She is your wife. Do not insult her intelligence.