1. Also have a Business Plan

Do not rely on instinct to guide your business. A written plan helps you focus on where you wish to go & evaluate the path regularly.

2. Also have a Sales Plan

There’s no serious way to gauge the progress & financial growth of your business, if there is no sales plan to follow. This has to be realistic in terms of where will it come from; how will it come; from whom; how often & how much would be needed annually, quarterly, monthly & finally daily.

3. A Marketing Plan is a definite requirement.

This if made & implemented effectively & consistently will eliminate shooting in the dark. It has to create the right kind of attention that is required, for the right type of people etc.

4. Create/Have a team of Mentors

They are like an unpaid board of advisors who have scripted similar, related, successful businesses in the past or currently but which are noncompetitive. They are positive, somewhat like minded professionals; who are good resource and support system. They can even provide introductions and endorsements to others for you.

5. Real Cash Flow

Amidst all the excitement and euphoria, do not overlook the gap or wait that can be too long, without some cash reserve leading to failure.

6. Never ignore the numbers

As an entrepreneur into business remember the primary goal - is to make a Net Profit. You need to know where you stand on a regular basis, especially with regard to income versus expenses. Use technology/software to give you cold hard data that helps you analyze & decide quickly.

7. Become automated

Imperative. With a computer, modem, a fax, and access to the internet for e-mail, a wealth of information and electronic commerce, you will be keeping up with your competition and staying current.

8. Know Your Customers

know them extremely well, as changes in customers’ preferences/ your competitors’ products and services can leave you gasping. Keep studying in order to get to know your customers well, what they want now; will likely want in the future; their buying patterns and how you can be a resource for them even if you don’t have the right products or services for them now.

9. Never ignore your Employees

Motivating, managing, retaining your staff is probably one of your toughest challenges as an entrepreneur today. Without “people skills”, your problems can multiply quickly. Morale, productivity and profits can easily be destroyed. If they are not your strengths, get help!

10. Always be a Team Player Not a Lone Ranger

You might be the key to everything but you cannot do everything and grow at the same time. Even modest success can overwhelm you unless you do the following: hire the right staff and delegate responsibility, work with a business coach or mentor, and finally, create several positive business exit options for the future to make the ultimate transition smooth and planned.