Mahathir’s Biz Mgmt 101

Some pointers from Malaysia’s 4th Prime Minister Tun Dr. Mahathir bin Mohamad for the young indiepreneurs at UrbanVillage, Kuala Lumpur on 29th August 2012.

1. People always say they don’t have enough money to start a business, but they forget their skills and experience are capitals too. Put them to good use.
2. Proper management of cash flow is crucial(he stressed on this a few times).
3. Money is a precious commodity. Treat it as capital, not as means of exchanging for goods.
4. People can’t lend money to you if you can’t make money.
5. Do something different than what you’re comfortable of doing.
6. Acquire knowledge and skills related to your field and learn about your competitors. Outdo them. 
7. On secret of running a company called Malaysia with 1 million+ goverment servants for 22 years- Deligate authority, trust people and get results.
8. Don’t think of money, but satisfaction of getting your work materialized.
9. Have willingness to work, work hard and work systematically.
10. Always be honest to yourself and everyone else.

And my favorite non-business related quote:
“The Petronas Twin Towers being the tallest building in the world started out as a joke.”

That’s what he said.