This issue's advice comes from Rick Menger at Dania Beach, Fla.-based Vintage Floors & Interiors:
My best advice came from my father-in-law when I was starting my company. We were talking about what I was going to do, and he started with this: "Rick, I want you to go to the Holiday Inn and get some paper and a pencil from the front desk. Then come back and we will take some notes." Obviously I was confused by this, and I said "What, why the Holiday Inn?" He answered that he was trying to make a point: Don't spend money needlessly. Run your company the best way that you can while you spend as little money as necessary to do the best job possible. That does not mean you don't spend money, just that you watch closely where it is going. I continue to do that to this day.
What's the best business advice you ever received? Tell us about it by emailing us at [email protected].
