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Another day, another ten dollars (adjusted for inflation), but your mind's not on your job, it's floating in the clouds, dreaming of entrepreneurship.
Business ideas that never took flight are flapping around in that wacky brain of yours. Well, before you test your wings, glide along with a few tips on how to make your business venture a success.

Check on your idea's feasibility. Do your expectations match projected performance? Estimate your cash-flow for the first few years to avoid surprises.

Funding a business is what stalled you in the first place? Government grants can see you through. Hang out with a venture capitalist and see if he'll fund you, or Invest in a low interest rate credit card, or Just apply for a bank loan, but Keep tabs on that interest. Luck helps those who help themselves so
Market yourself to advantage and earn your first down payment.

Never lose track of your strengths, weaknesses, opportunities and threats (SWOT). Online software is available to evaluate your business's viability.

Prepare. Prepare. Prepare. Question every aspect of your business plan. Run it past an expert or trusted advisor who can scan for loopholes. Success stories of other entrepreneurs can teach you much. Train yourself in all aspects of your new business. Even if you hire help, you'll want to know the basics.

Understand your customer. Value your customer. Word of mouth is a powerful marketing tool. Capitalize on it.
Xterminate the competition. You have nothing to stop you now. Zip past them all on your way to success.

Written by Lalita Aloor

What small business tips do you have for your fellow entrepreneurs? E-mail us.