For me the other one I think is be really aware of your financials. It's not only from... it's a dash point that you know at each point in time what your financials look like but then also making clear that your key staff understand key financials.
And don't be scared of communicating that with your key staff. Another one I think is growth, we see a lot of businesses that immediately are incentivised of diversifying in terms of products and new markets very quickly.
We always say stick with the knitting, sell more to your existing customer base and a term at Cranfield we use, is like squeezing the lemon.
So if you think about a fridge, you want to get as much lemon out and not end up with a half-rotten lemon at the end of the week.
I think that is another important lesson to hand out and I think if I had the last possible one to squeeze in, it would be, I think, think about what you want to be as an entrepreneur.
What role do you want to play, where do you see yourself in a few years time?
And so make sure that you build a succession that will allow you to do the things you're best at and not be the hero or the meddler but be the one who works on the business and rather in the business.
Sometimes it can take a while to work out what somebody has but I think one of the first meetings that you have with the client is really important because you understand just them talking through what they think they have.
It gives you an idea of where they want to go and it gives them an opportunity to work out where they want to go, what's important.
The lovely thing about financial planning, you can't walk up to a cash point and press a button and it tells you what you should do, it's all very personal.
We all have different hopes and aspirations and dates that we think we're going to retire or what we want to do with our money.
So it's wonderful, you get to know your client very well.
It varies hugely, some people are fantastic, they come in with spreadsheets, others literally have no idea at all which, for me personally, I would find incredibly frightening not to know how much my pension would be worth when I come to retirement.
So it varies hugely but I think actually a really valuable bi-product of what we do is that we organise the administration of somebody's life. People often collect lots and lots of pension plans throughout their working career.
People collect life policies, in fact I've just come out of a meeting where somebody's said I took this out years ago, I don't know what it is, what is it? So we can put some sort of structure to people's financial plan.And it's when people understand it that it works better for them. We can plug the gaps or even get rid of things that aren’t needed anymore. People take out lots of life cover, for example, when their children are young but do they necessarily need it when the children have grown up and left. So there's a lot of administration in it but it is valuable. The other thing that's really valuable is people book an hour or so to see me and it's an hour out of their busy lives that is devoted to themselves rather than their work. So it's a time that really I just help people through the personal financial planning maze.