Nowadays people will post on social media memes and quotes they can relate to on a personal level but what about business; are there sayings that people in business can use to make more informed business decisions? Aristotle is still considered as one of the greatest philosophers of all time, and his insights covered different areas such as politics, love, ethics and even business. For this reason, being such a great thinker, it is only fair that we delve into some of his quotes and see if we can employ them in making better choices in our entrepreneurial endeavors. Let’s look at 20 Aristotle quotes and their significance in business.
1. Pleasure in the job puts perfection in the work (via Brainy Quote)
Ever walked into an office and seen a grumpy employee typing away at her desk or, may be called the customer service department and all you got was a mean voice responding to your inquiries? Well if you have, those are just examples of people who would rather be elsewhere than doing whatever they were hired to do. If you love what you do, you will make sure that everything runs smoothly because to you it is not just a job, but it is a passion. Maybe that is why artists will spend hours working on a piece of art that most people will never understand but in the end, will look magnificent and breathtaking to warrant a space in the gallery.
2. Quality is not an act; it is a habit
Some things do not come naturally; you have to work hard at them repeatedly. To achieve quality in production, you will have to keep making efforts to attain it, from the beginning to the end and once you reach it, there is no going back. After all, you want your customers to have topnotch products, and once you offer substandard services and products, you will be soon shutting down your business.
3. When a distribution is made from the common funds of a partnership, it will be according to the same ratio which the funds were put into the business by the partners, and any violation of this kind of justice would be an injustice. (via Thoughtco)
It makes no sense to have someone contribute 20% of the money to buy a pizza, and yet you share 50:50 whereas you devoted 80% of the cost. Similarly, when you engage in a partnership, and someone makes a 30% contribution towards capital it is only fair that the profits you share will be in the same ratio as the contribution. If you fail to use that ratio, you will deny yourself of the fair share to the profits.
4. The incontinent man does things he does not think he ought to do (Via Mercury)
A person without self-control is on a dangerous path to self-destruction. An incontinent man will know it is not right to engage in specific actions, but since he is greedy and cannot control his desires, he will engage in destructive habits anyway. For instance, a businessman knows that is wrong to bribe someone for them to remain in business, but they may still do it which eventually will cost them their license and customers especially in this era when people are ethically conscious.
5. He who is to make a good ruler must first have been ruled
If you plan on being the chief executive officer of the company, you have to know the ins and outs of a business, and there is no better way than to climb your way to the top. You cannot differentiate good and bad leadership unless you have experienced it firsthand and what better way than having been an employee in the company before making your way to the top; that way you will know what changes need to be made once you are in the top seat.
6. Change in all things is sweet
Change is as good as rest, and if you insist on doing things using traditional methods, you will only be hurting your business. A company that does not adapt to any developments is bound to lose its competitive edge. You have to keep adjusting and finding the most suitable cause of action to reduce your expenses and improve your profit margins
7. Hope is a waking dream
The last thing to die is usually hope, and no matter how bad your business is doing, there is always a chance to save it. However the minute you give up on your business, you will never turn it around. The best thing you can do is remain hopeful and turn your dreams into a reality. A business may be failing, but if the entrepreneur keeps looking for ways to make it work, he will find the missing piece of the puzzle that will change his fate.
8. When your talents and the needs of the world cross, there lies your vocation (Via AZ Quotes)
The world is full of people who have various needs, and if you can figure out which of the many needs is yet to be fulfilled and use your talents to satisfy them, you will be in business. Being gifted and using the gifts to produce services and products means you will already have a ready market to absorb them and you will break even sooner than you think.
9. Knowing yourself is the beginning of all wisdom
Unless you know your weaknesses and strengths, then you will be using your resources in ventures that will most probably be a waste of time. A business also has to do a SWOT analysis to determine the strengths, weaknesses, opportunities, and threats so that the competition does not kill it. If you know your strengths and opportunities, you will take advantage and use them to advance while looking for ways to avoid and overcome the threats and weaknesses.
10. Excellence is never an accident (Via Good Reads)
Chase perfection and you will catch excellence; if you are looking to excel at what you are doing, you will have to make conscious decisions. Nothing happens by itself; you have to choose the path you want to take to achieve your goal. Excellence is a combination of different things and it all starts with the mind since implementing poor decisions will only lead to poor results.
11. If you would understand anything, observe its beginning and its development
If you visit your friend and enjoy the food they serve you; you might ask them for the recipe so that you can also try and replicate the meal. Similarly, in business, the end product depends on the process you take from start to finish. It is for this reason that most companies keep their formulas secret since a competitor who does not understand how the product is made will never pose a threat.
12. Learning is not child’s play; we cannot learn without pain (Via Goalcast)
For children to learn how to walk, they will fall a few times and scrape their knees but in the end, taking the first steps are every parent’s joy. For you to launch that product in the market, you will have failed many times; maybe the design at first was a flop yet you had invested so much money in it. However, after a few failures, you will learn what was wrong with the product despite utilizing lots of resources.
13. It is possible to fail in many ways…while to succeed is possible only in one way (Via Keep Inspiring)
A business rarely takes off immediately you set it up, but that does not mean you have to give up on it. If the first technique you used did not succeed, you have to change to another and keep adjusting until you find that one method that will be successful. Sometimes it means even changing the business itself. For instance, if you began a restaurant and it does not do well, maybe an auto shop will do well.
14. It is well to be up before daybreak, for such habits contribute to health, wealth and wisdom
Hearing most of the successful entrepreneurs’ stories, the one thing that is the common denominator is that either they are early risers or night owls with the early risers making up a significant percentage. The early bird catches the worm; if you open up the doors to your business before your competitors, you will sell to the customers who will happen to be walking by your shop.
15. The whole is more than the sum of its parts (ViaEvery Day Power)
An employee no matter how talented cannot carry on the weight of the entire company; hence you will need to have more people you can rely on different departments. Each person has a different ability and when they all combine, your business gets to enjoy the fruits of the multiple talents. Further, when looking to have a more significant market share, creating synergy with another organization will yield positive results. Your company may have the funds required while the other may have the technical skills you need and when both of you combine, the results will be greater than if you pursued the goals on your own.
16. Courage is the first of human qualities because it is the quality which guarantees the others
You do not know what you are capable of until you take that leap of faith and try it. Regardless of how much money and other resources you have, until you make use of them they are all useless. You will have to be brave enough to risk it all by investing then you will enjoy the fruits of your investments.
17. Educating the mind without educating the heart is no education at all
We all go to school to get an education but whatever we are taught is only broadening our minds to see things from a different perspective than those who have not gone to school. You can learn all the managerial functions, how to calculate the net profit but unless you put your heart in what you are doing, then the likelihood of the business failing is high; you cannot be taught how to be passionate about anything, it is up to you to feel it in your heart.
18. To avoid criticism say nothing, do nothing and be nothing
As long as you are doing something, you will attract naysayers and fans as well. However, if you fear to be criticized so much, then you will never do anything. You will avoid running your business from a truck because you do not want people thinking that you lack enough capital to rent some space in the city. However, if you want to earn some money, you will have to ignore the critics and do what you have to do to keep your business running.
19. Well begun is half done
The results will depend on the beginning of your project. You cannot expect that the house you are building for a client will be durable if the foundation you laid is weak. As they say, all that begins well ends well; therefore if you are planning on being in business for a long time, you have to make the right decisions from the beginning. That means getting the right location, personnel, equipment and any other resources you need and then you will be on your way to kick-starting your operations.
20. Excellence is an art won by training and habituation
We were taught that practice makes perfect yet perfection is an idealism that only exists in our imagination. Therefore, practice makes us better. Education prepares us for the outside world by equipping us with the theoretical know-how so even when you are hiring staff for your company, they might have the best resumes, but it is not until they gain the practical skills on the job that you can determine if they are an ideal fit. For the employees to be the best at what they do, you will have to train them continuously.