Deb said, "My advice would be to only go into business doing what you love to do.  Anything short of that will end in failure." 

Roberta said, "Coming from a silent member of the list - I would have to say ONE of the most important things you need is enough of cashflow to sustain you thru growth. After that you need to be sure you are ready to committ 24/7 to the whole idea of being "in-business" . Like a marriage .....thru the good times and the bad times!! 

Marilyn said, "Use other people's experience to enhance your own. Go to work for someone in the same business. Learn it from within. (You can actually be paid to learn what not to do.)" 

Jayne B. said, "A biz plan is a great tool, however, it must be based on actual research, not hunches. The first few years I was in business, my plans were based on hunches. I 'thought' I would generate this much revenue doing so and so.  Planning is not a guarantee - not a sure thing, but you need to base your planning ideas on reality. Find out about your competition. How much revenue are they
generating and how. Only when you know how they are doing are you able to ascertain your prospective market share. Can you actually take some of their business? Also, don't do what everyone else is doing just because it looks fun. Find the gap and fill it. Base your decisions on calculated risks. If this is not your strength, locate a mentor who will help you succeed and perhaps pay this mentor a percentage of your profits. Last word, be realistic about how long it will take you to generate a 'profit'. It could be as early as 6 months or up to two years or more.  Do you have the cash flow to keep you in business." 

Erika said, "One very major thing I would add to the mix is that it is essential to always do business out of integrity and honesty. It would appear to be so patently obvious--because women almost automatically do this anyway -- but something very important to give to your class. The Big Truth out there is that the giants of commerce and industry--those that made it really big--were, for the most part, creatures of sublime integrity and honesty. These Big Guys also knew that they needed to always treat people with the deepest respect. (I used to work at one of those companies founded by one of those Big Guys--Leo Burnett Advertising in Chicago. I can tell you that even after he died, that premise continued and allowed/promoted the prosperity of those who worked at that marvelous place.)" 

Carol said, "CARE . . . about what you do, how you do it, and the people you do it with. If you don't, you won't have the passion you need to carry you over the rough spots -- the reputation to help you grow -- or the relationships to make it a worthwhile experience. Know you MUST work hard -- anything else is not an option. Before you can rest on your laurels . . . you have to earn the laurels. GIVE more than you take, whether it be to customers, associates, or your community.   Giving always pays off in the end... usually in ways you could never imagine." 

Becky said, "I think the group has sent you the most important. But one that becomes of secondary importance is persistence. When the going gets rough, persist, persist, persist. At one time, I bought a photo of a river through a canyon that says, "Perseverance," In the confrontation between the stream and the rock, the stream always wins ... not through strength, but through persistence." At times in the early days, I wanted to quit and go for the regular income. I'm glad I didn't; I would have missed the magic." 

Janice said, "If I had to do it all over again ....(and I most likely will - working on a new business idea) - try to start the business on a sound financial platform. I put myself into personal debt and it has been a struggle to keep focused and pay the bills." 

And finally, Michelle said, "take yourself and your goals seriously, even if those around you do not. I have had my business for two years now, it is steadily growing, and yet my own family looks upon it as a hobby. It is hard on the ego when you don't have the support of those closest to you, so you have to have a lot of self confidence in that situation. My office is home based, which adds to the attitude of it not being a "real" business. However, it is real in every sense of the word. I am constantly working on bids, quotes, attending trade shows, doing presentations, etc. "just like a real job"! If you believe in what you're doing, don't let those around you shatter that dream."