Start with good people, lay out the rules, communicate with your employees, motivate them and reward them. If you do all those things effectively, you can't miss.

In the end, all business operations can be reduced to three words: people, product, and profits.

Every business and every product has risks. You can't get around it.

There is no substitute for accurate knowledge. Know yourself, know your business, know your men.

A guy named Charlie Beacham was my first mentor at Ford. He taught me the importance of the dealers, and he rubbed my nose in the retail business.