In business, money is not the most valuable asset.
Neither is your product, your shop location, nor even your marketing strategy.
Your most valuable asset is discipline.
Without it, everything else will crumble, slowly, quietly, and inevitably.
Michael always told me:
"An undisciplined entrepreneur is just a consumer in disguise."
Discipline Begins with You
Before you can manage a business, you must manage yourself. That means controlling your time, your spending, your emotions, and your responses.
Michael had a rule:
Wake up early – He started his day before 6 AM to plan, review, and think before the world got noisy.
Set daily targets – Not just vague goals, but specific tasks with timelines.
Review the numbers – Every single evening, he checked sales, expenses, and customer feedback.
I remember one morning when I overslept and showed up late to our meeting. Michael didn't even raise his voice. He simply said:
"If you can't respect your own time, customers and opportunities won't respect you either."
It hit me hard because he was right, discipline isn't about punishment, it's about keeping promises to yourself.
The Emotional Side of Discipline
Entrepreneurs face highs and lows. One week, sales are booming; the next, you can barely cover rent. Without emotional discipline, you'll make bad decisions overbuying stock in a good week, underinvesting in a bad one.
Michael taught me to treat both success and failure the same way: with calm evaluation.
"Don't celebrate too wildly, don't panic too quickly. Both can blind you."
This is where many entrepreneurs fail, they ride the emotional rollercoaster instead of building a steady ship.
How You Treat Customers is How They Treat Your Business
A disciplined entrepreneur knows customers aren't just walking wallets, they're the foundation of the business. How you treat them determines whether your business grows through referrals or struggles for every new sale.
Michael's rule was simple:
Respect their time – Deliver on schedule or earlier.
Listen more than you talk – Sometimes customers tell you exactly how to improve your product if you pay attention.
Never argue in public – If a disagreement happens, take it offline and solve it privately.
I saw Michael turn an angry customer into a loyal client just by staying calm, apologizing sincerely, and adding a small extra gift to her order. She came back six more times that year.
Compare that to another store owner I knew who shouted at a complaining customer in public. Within weeks, that incident had traveled across town, and his sales dropped.
Examples of Customer Discipline
One of Michael's favorite stories was about Howard Schultz, the man who grew Starbucks into a global brand. Early in Starbucks' expansion, Schultz insisted that every customer experience, from the way the coffee was served to the smile of the barista should be consistent. He believed customers weren't just buying coffee; they were buying comfort and familiarity.
Even when profits were high, Schultz never allowed cost-cutting measures that would hurt customer experience.
"Customers may forget what you said, but they will never forget how you made them feel," he often said.
Michael adapted this philosophy for his furniture business. He didn't just sell; he educated customers on furniture care, offered free delivery for large purchases, and checked in weeks later to see if they were satisfied.
Why Financial Discipline Is Non-Negotiable;
Customer discipline means nothing if you lack financial discipline. Michael once explained:
"Your cash flow is your oxygen. The moment you start spending recklessly, your business begins to suffocate."
He kept three separate accounts as we read earlier in chapter 5:
1. Operating Account – For daily expenses and stock purchases.
2. Emergency Account – For unexpected situations like supplier delays or equipment breakdowns.
3. Investment Account – For expanding the business or starting new income streams.
He never touched his investment account for personal spending, no matter how tempting.
Michael's principle was clear:
Reinvest 50-70% of profits into growth.
Pay yourself a fixed salary from the operating account, even if the business earns more.
Never use business money for personal emergencies, that's what your personal savings is for.
The Role of Habits
Discipline isn't built in a day; it's built in habits. Small, daily actions accumulate into big results over time.
Michael's habits included:
Making weekly calls to key customers to check in.
Spending 30 minutes daily learning something new about business or marketing.
Reviewing sales trends every Sunday to prepare for the week ahead.
I once asked him why he was so strict about these routines, and he replied:
"If you only do the right thing when you feel like it, you'll rarely do it. Discipline means doing it anyway."
A Real-World Example – Daymond John
Michael shared the story of Daymond John, founder of the clothing brand FUBU and investor on Shark Tank.
Daymond started selling hats on the streets of Queens, New York, and disciplined himself to reinvest every single dollar into making more products. He worked at Red Lobster for years to keep personal expenses separate from his business money.
That discipline helped him grow FUBU into a $6 billion brand. Daymond often says:
"The easiest thing to do is to blow your first profits. The hardest, and smartest thing to do is to keep putting them back into the business."
Discipline and Relationships
Michael often reminded me that discipline also applies to who you do business with.
Never partner without a written agreement.
Don't give credit to customers who haven't built trust.
Avoid suppliers who can't keep promises — no matter how cheap they are.
He said, "Loyalty is good, but discipline protects your business from being destroyed by misplaced trust."
Quotes to Live By
Throughout our conversations, Michael would often share quotes that stayed with me:
"Discipline is the bridge between goals and accomplishment." – Jim Rohn
"A satisfied customer is the best business strategy of all." – Michael LeBoeuf
"Your future is created by what you do today, not tomorrow." – Anonymous
"Business opportunities are like buses; there's always another one coming. But you won't catch any if you're still at home sleeping." – Richard Branson
The Turning Point
I used to think discipline meant being boring, no spontaneous spending, no sudden breaks, no late-night fun with friends. But over time, I learned discipline actually gave me more freedom.
Because Michael had structured his business so well, he could take vacations without worrying that things would fall apart. His financial discipline meant he could take risks others couldn't. His customer discipline meant he had loyal buyers even when the market slowed down.
He was living proof that discipline doesn't limit you, it protects and multiplies your opportunities.
In the next chapter, "The Art of Delayed Gratification," I'll share the time Michael passed on a brand-new car just so he could buy more stock, and how that one decision doubled his business in less than a year.