Top 10 Rules for Starting a Small Business

1. Find and assess what are you good at and what are you passionate about.

2. Use that knowledge and determine what is already in the marketplace that you can sell. For example, what skill set can you sell, what product can you make, or what value can you provide. You can then add your far-out ideas to your base.

3. Solve problems. People pay to have their problems solved. What problems can you solve for someone?

4. Create a great title for yourself that is already used or known and own it.

5. Build an internet presence first. Have a professional website, make sure Google finds it easily, then do Facebook and other social media.

6. Network face-to-face. Build an audience and client base through business referral groups, your local Chamber of Commerce, and LinkedIn. Build social capital.

7. Focus on the higher ideals in life through your business. If you are only about money it will run from you.

8. Know you canʼt do it all and canʼt do it alone. Nature does not work in isolation. It takes others to be successful.

9. If you lack certain skills or capital for advertising, you can start with doing work on commission, trade, or volunteer work to get in the door.

10. Have a 3-month, 6-month, 1-year, 5-year, and 10-year plan for your business. Be flexible if things donʼt go according to plan or need to be revised based on new information.