Of course there are many ways to run a business (you older people already know this, right? Thanks for reading anyway!). And whatever works for you, might not work for the next person. So without declaring this as the holy grail for running a business, and with good hope that this will shuffle your brain a bit, I present five tips useful for any young businessman.

5. Profitability first!

Remember you're running a business. In order to exist you've got to make more money than you spend. So whenever you hire a person to work for you print this in their mind. In > Out.

4. Salaries

If you think you've hired the right people, let them decide their salary for themselves. Just have them ask themselves these three simple questions:

• How much money do I need?
• What's the average pay for a comparable job?
• How much profit will I generate?

As long as your people think they can remain profitable, any number is fair game!

3. Balance

This one has a double meaning. Make sure you have a good balance in your personal life: take time off regularly to remain fit and free. But also make sure the company is in balance. The existence of your company is completely dependent on ensuring financial balance. Remember: In > Out.

2. INITIATIVE

Not I must, but I want to. The efforts you and your co-workers make should never be based on the orders of others, but rather must spring from initiative and motivation. So you want the expert in Photoshop to make a cool graphic for you… Motivate her! Convince her that this is right for the company. And if she agrees with your vision, she'll want to do it.

1. Tips

They look great in writing, but belong in your attitude.