Al Capone might not be the very first person to pop in your head when you think about an entrepreneur. After all, he was a very scary man who went to jail for tax evasion and happen to be very active in prostitution, bribery, smuggling, murder and the selling of illegal alcohol during Prohibition. Just because Al Capone's businesses weren't exactly legal it doesn't mean that Capone himself didn't know a few things about running a successful business. In fact prior to being sent to Alcatraz Capone owned more than 300 businesses filled with hard-working loyal employees.
Here are a few tips from Al Capone on running a successful business:
You're only as good as your word. It said that Al Capone ran a very efficient business. He always told those under him that "Your word is your bond" and Capone made sure none of his employees ever lied to him. This is one of the biggest things missing in business today. Many companies make false promises or maybe make statements then under deliver. The best way to lose a customer for life is to not live up to your word.
Remember where you came from. Whenever one of Capone's employees would start strutting around and acting like a big shot he would tell them "Don't let your head get too big for your hat." Even though Capone was a ruthless criminal he never did forget where he came from and was actually looked upon as a neighborhood hero to some for his generosity to those in his old neighborhood. It's always a good thing to support local charities and schools because these people at one time were your neighbors plus your generosity could open doors and bring you in new unexpected customers.
Be honest with your business partners. It is said that Capone only had to give orders one time to his employees and after that they were expected to do their job correctly from then on out. Al Capone would always say "Don't lie to the people you work for will." I'm pretty sure this works really well for him because let's face it who wants to lie to AL Capone? If you are unable to do a job it's always best to just come forward and be honest about what's wrong or what you don't understand instead of trying to make it look as if you're working correctly in order to obtain a paycheck.
Remember, it's never easy. . Like I said earlier Al Capone at one time ran over 300 different businesses. When a reporter once wrote about how easy it was for Al Capone to make money Mr. Capone was quoted as saying "Find out what it's like to run a business and meet payroll." Everyone has ideas that as a boss all you do is kick back while everyone else does all the work you did tend to forget that it's the boss who's financially on the line if heaven forbid the business hits a dry spell and stops making payroll for a while.
Earn your customers loyalty. Even though it might've been illegal Al Capone supplied high-quality alcohol to the citizens of Chicago from 1922 1931 during prohibition. He was once quoted by reporter as saying "Be loyal to friends an invincible to enemies." Unlike many bootleggers at the time Capone didn't take to watering down the product and because of this people always tended to hunt out Capone run establishments.
Capone's business tips may seem like common sense but in this day and age that were living in common sense and general decency or two things that unfortunately are on the client in business. Far too often people put the prospect of making a quick buck today over the possibility of making hundred dollars over the years. It's far better to live by a the tried-and-true code that was established by the old-school businessmen than use the model of today's businessman and go the route of a Bernie Madoff.