11 Tips to Owning a Successful Small Business

1. Start Slowly
2. Don’t Jump into a Partnership
3. Cash Flow
Your business lives and dies with cash flow. Make conservative estimates about sales and costs.
. Know the Market
Don’t jump into a business just because the numbers look great. Work in the industry before you open your own shop.
5. Sales
Every great small business idea still needs selling and marketing to run profitably. But understand that these are two different skill sets.
6. Marketing
You might have the best products in the world, but if people don’t know about it, you’ll never keep your doors open.
7. Reduce Risks
8. Your Plan
Your business plan isn’t a guarantee of success, but you can almost guarantee failure if you don’t have a plan.
9. Talk It Up
Don’t keep your ideas to yourself. Discuss your business idea and plan with trusted business people you know. Get their input.
10. Be Flexible
11. Focus on Your Goals
The reason you go into business is to have more control over your life. You can better control how much money you are going to make and what your life is going to look like if your business is successful.