Where to start

Ten Rules For Succeeding in Your Own Business
by Janet Attard

What does it take to start and succeed in business? That's a question I get asked a lot by startups. Although there is no one answer that fits all businesses, there are a number of practices followed by successful, happy business owners.

1. Be true to yourself.
No matter how much money someone else makes, if you don't enjoy the business, wouldn't be proud to show your relatives what you are doing and how you are doing it, then don't do it.

2. Find a need and fill it.
Yes, you've heard that a million times. But it still works.

3. Choose products or services that you can sell for more than it costs you.
If the difference between your cost and selling prices is too low, you will have difficulty growing the business. When profit margins are too low, you won't have enough money to hire employees, pay for rent, advertise more, and do other things needed to expand.

4. Make realistic estimates of your expenses... then double them.
Most new businesses either forget about marketing, fulfillment, overhead costs, income taxes and self-employment or greatly underestimate them.

5. Be true to your customers and prospects.
Don't promise what you can't deliver. Don't lie or exaggerate the benefits of what you sell and always deliver a quality product or service.

6. Understand the importance of marketing and learn how to do it effectively.
The world won't beat a path to your door just because you build a better mousetrap or write a great ebook about how to grow tomatoes or teach a child to read. To get customers you will have to market your products or services effectively and continually.

7. Treat your manufacturers and service providers with respect and let them know you appreciate them.
They are an important part of your team and your success.

8. Embrace the web.
No matter what you sell or to whom, there's a good chance your customers will turn to the web in one way or another to make their purchase.

9. Don't expect miracles.
Yes, people do make money in their sleep or while they're away on vacation -- the Internet makes that possible. But only after they've invested a lot of time , effort, and money in building the business and building the team that keeps it going and growing.

10. Remind yourself that one is the loneliest number in business. One product, one service, one main client, and all your records stored on one computer hard drive without regular off-site backups is a recipe for failure.

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