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1. Be there. Entrepreneurs warn that a successful business can slip when an owner is not there at least part of every day, keeping in touch with how things are going.
2. Set an example for working hard. One wholesale bakery owner sometimes sleeps on the couch in his office so he can be there when the early shift comes in at 4 a.m.
3. Don’t confuse “hands-on” managing with micro-management. Set objectives and offer guidance, but don’t make employees do every little thing your way. Gauge what they do by the results.
4. Understand your business down to the last detail. The founder of a toy-store chain visits the stores and spends time doing each job (selling, clerking, etc.) and observing customers’ reactions.
5. Stay in touch with “stakeholders”—including customers, employees and suppliers.

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