| I am often asked by aspiring entrepreneurs for tips | | | | #5 Your Opportunity Must have a Definable Unique |
| that are essential to being successful in launching a | | | | Selling Proposition! |
| new commercial venture. Below I have assembled | | | | The Unique Selling Proposition defines your products |
| the big 10, something like the 10 Commandments, | | | | niche in the marketplace. This establishes the level of |
| only for entrepreneurial success. The areas covered | | | | risk you face. |
| below are not negotiable in the process of taking | | | | #6 Innovate, Innovate, Innovate! |
| projects. Trying to short-circuit the list is a death knell | | | | The market rewards products with creative, |
| for any start-up. | | | | innovative new features and benefits. Think weird |
| The Ten Commandments for Entrepreneurs | | | | and outside the box. |
| #1 Never Take Shortcuts! | | | | #7 Address Opportunities From Your Life's |
| The market is unforgiving. You only get one shot at | | | | Experience! |
| making a GREAT First Impression! Do everything in a | | | | Most successful ideas germinate from your job, |
| first class way. | | | | hobby, lifestyle or educational experience. Keep |
| #2 Never Offer an Opportunity for Consideration | | | | looking around yourself! |
| Without All of the Facts! | | | | # 8 Help Is Available for the Inexperienced! |
| Until you have fully researched the market, pricing, | | | | There are many places an inexperienced inventor or |
| demographics, etc. never attempt to take your | | | | entrepreneur can get guidance. Do not let fear of |
| project to decision-makers. | | | | sales or marketing kill your great idea. |
| #3 Bootstrapping is always a Great Option! | | | | # 9 Customize Exciting Business Plans |
| The ability to pre-sell, minimize cash needs and prove | | | | Do not waste your time mailing poorly written fill in |
| the viability of your project can be handled by | | | | the blank, inter-net business plan templates. They will |
| bootstrapping yourself. You keep the equity! | | | | not be read. |
| #4 Know Your Cost of Goods to the Penny! | | | | #10 Never, Never Give Up! |
| The lowest possible cost of goods, with the highest | | | | The ability to understand, not like, but understand, |
| possible quality features, is essential in creating | | | | the word no is crucial to becoming a successful |
| realistic sales models. | | | | entrepreneur. You will hear a lot more NO than Yes. |