Golden Rules for Staying Profitable

• Globalization . Distinct from being multi-national, globalization means the ability to leverage human resources throughout the world to add value to customers.

• Living within means . Do not ratchet up expenses unless you are 100% sure that they are really needed and that the business will expand because of the expenses. It is easy and fun to start spending money. But it is very painful to cut them back. So if you have a choice, dont start spending.

• Personnel . Hire the right type of people who understand the value of money and time, and who can assume responsibility.

Rashid N. Khan is the founder and CEO of Ultimus Inc., a pioneer in business process management and workflow automation. Ultimus wasestablished in 1994 without any outside investment, with the long- term vision of bringing workflow automation to every desktop. Today Ultimus is a leading provider of Web-based workflow automation software solutions that allow companies across industries to enhance profitability through improved worker productivity.

Prior to establishing Ultimus, Khan was the founder and CEO of Sintech Inc., a leader in advanced software for mechanical testing. He founded Sintech in 1983, and bootstrapped the company to become a leader in its industry.

Khan obtained two undergraduate degrees from MIT in Computer Science and Political Science. He obtained a Masters degree in Computer Science from the University of California at Berkeley, and an MBA from the Harvard Business School. Khan was awarded 3 technology patents by the US Patent Office, two of them in the area of business process management and workflow automation software. He has published numerous technical papers and business articles.