Running Your Business

The word "entrepreneur" comes from the French "entreprendre," meaning "to undertake." Some dictionaries define an entrepreneur as a person who organizes, manages, and assumes the risks of a business or enterprise. If you've decided to start your own business, you are entering the exciting and frightening world of entrepreneurship.

Deciding what you want to do is the hardest part. If you've already got that out of the way, you're miles ahead of would-be business owners. Just make sure that whatever you choose is something you love to do. Making a living is hard enough when you're enjoying it; if you hate what you do, you're destined to fail.

People skills are very important for success in your business. Even if you're shy and have a business plan, you can find ways of meeting and talking to people that won't make you freak out. Join community groups that interest you; the local Chamber of Commerce; Internet networking sites; even at the grocery store.

When you are asked what you do for a living, have your answer ready to go. Say it with confidence and non-apologetically. Your enthusiasm will spill over into what you're saying, and people will respect you for doing something you enjoy for a living. Remember how you like to be treated as a customer, and treat your customers the same way.

Organization is another key skill. If you are hopeless at it, hire a professional organizer to do it and then explain to you how it works. You must work with a system or you will lose important things, and consequently, important customers. Prioritize your work, spending the most time on the tasks that make money.

Pricing your services is the bane of most new self-employed people. It's tempting to charge less than you want in order to be seen as competitive. However, all you end up doing is coming across as not being worth much. If you over-charge, you won't get customers either. Research what others are charging for the same services in your area, and price yourself accordingly. Remember to give more than you promise to your customers when possible, and they will keep coming back. Again, the people skills will result in great customer satisfaction.

To protect yourself and your business, you will want to purchase an insurance policy that will keep you safe from liability issues if something were to happen. Also, as an entrepreneur, you will be responsible for providing your employees with insurance as well as yourself. It's important to do some research and make sure you get the best deal possible. Insurance protection can be a big expense, but it's a must for any business.

You must also be very good at making decisions. If you make the wrong choice, you can usually fix it later, or at worst, learn from it and do better in the future. Being indecisive only prolongs the inevitable. So flip a coin if you have to, but do something.

If you can't afford a bookkeeper or accountant, take a look at some of the accounting software available. You may find something that works well for you, and when you actually do get an accountant, your records will be easy to find and review.

Most importantly, stay focused on your goals. You can make your business work if you're willing to work on it.