1.Time is money. Good time management is essential. Very good book, must read, is by Tim Ferris is The 4-Hour Workweek.
2.Concentrate on clients who give you money. Eliminate who generate loses. Don’t do favors for pseudo friends, who never do anything for you. And use Pareto Rule.
3.If you work on your own, have two legs You can work in two different niches. Don’t try to have 100 legs. You are not a millipede. You cant do a good job in 10 niches unless you are a milinare who hire people to work for you and you are not working for money but instead money is working for you.
4.Have a B plan or a bunch of them. Optimal situation is when you choose your clients form potential clients – you dont have to worry one client who want to go away. (assuming that you do a really good job, and this clients goes away for his own reasons).
5.In my opinion doing 10 small task takes more time than doing one bigger task. When our mind is in state of writing, writing is easier then talking over the phone.
6.Cash flow is essential. To save money, you have to get more, than you spend in given period of time. Making more money only in spreadsheet then your costs is good, but doesn’t mean that you save money automatically. The problem is when you make money existing only is spreadsheet and spending real money. When you income stream is less then your expenses stream. Imagine a water container with a big hole at bottom and pouring water. You can’t fill this container with water, specially when using small pipe.
7.Safe money like Rockefeller did with one drop of tin per can, look for cheaper supplier. I know somebody who overpaid 47% for this same CDs.
8.Do what give you money, don’t do what doesn’t.
9.Don’t pay in advance if you don’t have to. I know someone, who almost went bankrupt because he paid too much in advance. I don’t mean paying for a domain or hosting I mean bigger orders.
10.Use the principle of limited trust. A lot of people tend break theirs words.
11.When making an order, always ask for a price, otherwise you can be surprised.
12.Be very careful when someone is prompting you for doing something… Have your plan and steering wheel in your hands (example: hire a new office for me…, when you are not even thinking about hiring a new office or worst you know it didn’t work in past).
13.BUT you want to make a good business you have do what (a lot) of people or companies need and look for.
14.Selling a service of product, people don’t want is a torture. Want doesn’t mean need because people tend to buy a lot of thing they want to, but they don’t (really) need…
15.When starting a new business first question should be: how do I find clients, what would I sell my products.
16.When selling online having few bigger conversions (sells) is often (very often) much more easy then having thousands of small conversions. Selling pencils for $1 online is not so easy as it seems – it is a business for big player. You can become a millionaire having a couple conversion a year. Estate agency is a good example.
17.When you sell online keywords research and testing is essential. Think like your clients. When some one is typing a phrase is he or she looking for a product or a service or just need some information or free resource?
18.Use check lists.