1. Right Business Idea Does your business idea fill a real need, or just something you like?
2. Right Size Customer Base Are there enough potential customers to be profitable?
3. Starting for Right Reasons Starting a biz is not easy, takes a lot of time, Are you ready?
4. Invest in your Business. Do not borrow money unless you willing to invest your own.
5. Right Place to Start Are you picking the right place to start your business?
6. Right Time to Start Are you starting at the best time of the year and economy?
7. Build Long-Term Value Repeat business is more valuable than short-term profits.
8. Involve Family in Decision Start a business with your family's support.
9. Sufficient Capital It takes longer to be profitable - plan for more cash
10. Realistic Revenues It takes longer to build sales - plan for more time.
11. Increase Marketing It takes more marketing to build sales - increase marketing.
12. Non-Traditional Marketing Look to guerrilla & viral marketing vs. traditional marketing.
13. Keep Debt Low Lease vs. buy, rent vs. own, start smaller, look for ways to lower overhead.
14. Control Costs Do not spend down initial cash before positive cash flow occurs.
15. Right Business Location Near customers, visibility, parking, do not pick for cheap rent.
16. Know Your Competition Consumer loyalty doesn't just happen, you have to earn it.
17. Expand Slowly Grow with good cash flow and an increasing customer base.
18. Establish a Team Do what you do best and delegate the rest.
19. Establish a Niche Do not be all things to all people - focus on customers you can best serve.
20. Unique Selling Know what makes you unique to attract and retain profitable customers.
21. Adapt to Change The only thing certain in business is change, plan for change.
22. Strong Internal Controls Have policy and procedures manual in place i.e. accounting, HR, fraud, theft, etc.
23. Sales Tracking System Know the marketing source and cost of inquires, appointments, sales, etc.
24. 100% Commitment Even if the business starts part-time are you 100% committed.
25. Have an Objective Advisor Friends and family members don't always give the best advice.
26. Focus: Build business on the 80-20 rule (20% of customers produce 80% of the profits. Focus on the 20%.)
27. Have a Website A business with no website will be a dinosaur, extinct.
28. Web Marketing Strategy Have a plan to attract people to your site - website optimization.
29. Have an Elevator Speech Be prepared to explain your company in thirty seconds or 100-150 words.

One of the biggest mistakes you can make is to rush opening
your business. Take the time to go through each step.