1. Make a business based around a subject you are already passionate about. It is so much easier to put in the long hours when it is a subject you are very keen on. There is also an easier learning curve.
2. Start on a part time basis while you are still employed. Depending on your business it could be some time before you are making enough money to live off of comfortably. Remember you will need a reserve for emergencies as well as enough profit to cover the daily expenses.
3. Avoid over dependency. Do not become overly dependent on any one customer, or supplier, or form of advertising, or even bank - get the picture? You do not want to find your business in financial trouble because of a change in any one factor.
4. Have a business plan. Know what your goals are and the steps needed to reach them. Know what you need in terms of supplies, time and help. At some point you will need help!.
5. Share your problems with others. Having a mentor, or even just a friend with business smarts, to bounce problems off is invaluable. Kicking those problems around often leads to fresh ideas you might not have otherwise thought of.
6. Don’t forget to love your family. They are putting up with your endeavour and possibly suffering too. Spend enough time with them to let them know they are still the most important thing to you and their support will continue.
7. Be female! I’m a male myself but lately it seems I am constantly seeing lady entrepreneurs featured in the success stories! eBay businesses especially seem to have a large number of female success stories and there are any number of work at home moms showing huge success.
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