1. Check Your Compatibility with Running Your Business
2. Get Your Personal Finances in Order
3. Select the Business That Is Best Suited For You According To Your Skills and Interests
4. Prepare a Business Plan
5. Do Not Consider Any Bankers or Investors for Your Business
6. Acquire the Proper Background and Skills to Oversee All Facets of Your Business
7. Prepare a Good Marketing Plan to Sell Your Products or Service
8. Spend 25% of Your Time with Customers to Understand Their Viewpoint
9. Solve the Problems of the Customers
10. Maintain the Quality of Your Products or Service
11. Put Profitability First and Rewards Second
12. Assemble an Efficient Team of Employees
13. Take Help from Small Business Peers, Mentors or Trade Associations to Avoid Any Mistakes
14. Treat Vendors like Customers
15. Provide Financial As Well As Non-Financial Incentives to the Employees
16. Ignore Regulatory Issues at Your Peril
17. Be Well Aware of the Tax Laws
18. Also Be Aware That the Success of a Business Depends On the People Working For It
19. Pick Any Two among FAST, GOOD or CHEAP (Describing Your Products or Service)
20. Develop a Passion for Learning
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