I saw an obituary in the national news that should be of interest to every solo business owner.

The eulogy was tucked away in an obscure spot where I doubt many took notice.

Please read the full text - it is extremely important and so very appropriate for our times. You will want to keep in mind whom you are reading about!

Execute your business with the memory of this old friend always in your mind.

I'd like to spend some time giving you what I believe are great solo business quotations. These are not my thoughts (although I wish I had the keen insight that these business savvy people express) but rather the ideas of others that are targeted to helping you in your online business.

No, most of these quotes are not specific to Internet solo business. Some were made way before the Internet was born.

But don't discount their appropriateness just because some were spoken in times long ago.

These business thoughts can help you to understand some of the timeless wisdom that other entrepreneurs have shared to help you in this day and age.

Every solo business owner knows (or should know) the needs of his business better than any other individual. The key, then, to being a smart business owner is to be able to analyze what is going on in your business and correct any deficiencies quickly.

If there was ever a more appropriate quote for a business owner than "the buck stops here" I don't know what it would be. As a solo business owner, you have the ultimate, final, and only say regarding what happens in your business.

We're back again reviewing some more wonderful small business advice from some of the most successful people in the business world. These are not my thoughts (although I wish I had the keen insight that these business savvy people express.)

No, most of these quotes are not specific to Internet solo business. Some were made way before the Internet was born.

But don't discount their appropriateness just because some were spoken in times long ago.

These business thoughts can help you to understand some of the timeless wisdom that other entrepreneurs have shared to help you in this day and age.

Every solo business owner knows (or should know) the needs of his business better than any other individual. The key, then, to being a smart business owner is to be able to analyze what is going on in your business and correct any deficiencies quickly.

If there was ever a more appropriate quote for a business owner than "the buck stops here" I don't know what it would be. As a solo business owner, you have the ultimate, final, and only say regarding what happens in your business.

Here are some additional small business quotes that you can enjoy.

These are not my thoughts (although I wish I had the keen insight that these business savvy people express) but rather the ideas of others that are targeted to helping you in your online business.

No, most of these quotes are not specific to Internet solo business. Some were made way before the Internet was born.

But don't discount their appropriateness just because some were spoken in times long ago.

These business thoughts can help you to understand some of the timeless wisdom that other entrepreneurs have shared to help you in this day and age.

Every solo business owner knows (or should know) the needs of his business better than any other individual. The key, then, to being a smart business owner is to be able to analyze what is going on in your business and correct any deficiencies quickly.

Business mentors are a real boon to most entrepreneurs. They have traveled the same road and can keep you out of danger.

These business ideas are not my thoughts (although I wish I had the keen insight that these business savvy people express) but rather the ideas of others that are targeted to helping you in your online business.

No, most of these quotes are not specific to Internet solo business. Some were made way before the Internet was born.

But don't discount their appropriateness just because some were spoken in times long ago.

These business thoughts can help you to understand some of the timeless wisdom that other entrepreneurs have shared to help you in this day and age.

Every solo business owner knows (or should know) the needs of his business better than any other individual. The key, then, to being a smart business owner is to be able to analyze what is going on in your business and correct any deficiencies quickly.

If there was ever a more appropriate quote for a business owner than "the buck stops here" I don't know what it would be. As a solo business owner, you have the ultimate, final, and only say regarding what happens in your business.

I know many would-be business owners are caught up in the dream of solo business.

They envision themselves as enjoying lots of money as the fruit of their efforts.

They see themselves as being the "boss" of their own lives.

They fantasize about working when they want, doing what they want, and being accountable to no one.

They sometimes are so desperate to begin their new life they don't properly prepare for what is ahead of them.

They don't think about the extent of the commitment it is to leave a paying job and begin a new business venture that is untested and untried.

I was rummaging through some files last night and came across the checklist I'm going to share with you today.

Unfortunately, I am not sure where it came from. Usually, I clip articles and stories with their full attributes so I can credit the author. However, in this case, I am just not sure where this info came from and I apologize that I am not giving credit where credit is due. I don't like to operate like that.

The information is good, however, and it will help you to analyze your own situation to see if you "have what it takes" to be a successful entrepreneur.

Of course you can make a change in your behavior, your thinking, your attitudes, and even your skills.

So if you find that you don't measure up at the level you would prefer, you can always work on those things that are not your strengths.

One of the major challenges and struggles of most beginning small business owners is grasping and understanding what is going to be required to stay on top of the company's financial position.

It would seem critical to me that a solid financial management system be put into place prior to anyone beginning business operations.

Now "solid" doesn't necessarily mean expensive or overly comprehensive or complicated.

Small online businesses don't need to have the level of sophistication in a management system that might be found in a large corporation.

What is needed, though, is a management system that meets the needs of the business owner, is not too complex as to be unfriendly, and one that will allow for some scaling as the business grows through the coming years.

Think about your experience as a customer in any particular niche where you were seeking information. Do you remember how frustrating it usually was to try to have certain "knowledge-related" questions answered?

Do you remember spending many minutes (sometimes hours) trying to figure something out that could have been shown to you quickly and easily had you only known where or how to ask for an explanation?

Understanding, expertise, and knowledge in any niche comes from learning, training, experience, and paying attention to details.

I believe anyone can become an expert in almost any niche given the right approach. Let me explain what I mean:

For many entrepreneurs, getting started in business on solid footing is an elusive task. Preparing a business plan just doesn't seem to be that important.

Yes, there are some business professionals that talk about the useless nature of the typical business plan. After all, they claim, there is no way to anticipate what revenues and expenses will be. They claim that everyone anticipates building their own plan to show that they will be successful by year 3!

When you get right down to it, however, these same professionals are not saying that folks should go into business without some kind of preparation. They are saying to do your planning, but maybe not prepare the typical "prototypical" structured business plan document.

Regardless of what you call, or even how you do it, everyone needs to plan for and prepare for starting a business in advance.

Call it what you will ... keeping the books, financial management, accounting, doing your taxes, crunching the numbers and on and on ...

Many have called it names that I won't repeat here!

No business activity strikes fear or disdain in the hearts of small business owners like this one!

If you're going to be in business, you must accept the duty and responsibility of doing financial management - it "goes with the territory!"

Of course, some will have the means to outsource as many accounting functions as possible. Doing so may be the best alternative for solo business owners that are not adept at tracking and recording details.

However, even if outsourced, accounting requires the discipline of keeping and recording income and expenses on a daily basis ... not something that many folks are used to doing in their civilian lives.

A sound marketing plan is very important to the success of any solo online business operation.

Your plan should include areas of focus like niche market research, the customer profiles that you have targeted, an analysis of your competition, your positioning, the products and services
that you are selling, your pricing plan, and your advertising and promotion details.

Do your homework before developing your market and niche plan. Effective marketing, planning and promotion begins with solid data and information about your specific marketplace and the sub-niche you have chosen.

Your business will benefit immensely by the amount of quality information and thoughtful pondering your give your plan.

It seems to me to be a little weird. There are lots of daily searches for the phrase "business ethics" but there are very few products that deal with the subject.

I'm guessing it's a function of supply and demand - no body is willing to purchase products about this subject so the demand is being met with freely available material.

Maybe folks believe they already have the subject mastered (or at least under control). Others probably believe in being ethical but that's about as far as they go - no sense delving into a subject that doesn't directly bring money into the business. (Or does it?)

Most would probably say the study of ethics is boring, old school, and not worth the time for the busy business owner.

So what are business ethics and why is it an important subject?

I'd like to talk about a way to conduct your solo business online that will bring you all the profits and business that you can handle. What I'm speaking about has as much to do with your mindset as it does about your strategy or business system of operating.

If you will adopt an "MO" (a method of operating) that includes what I'm going to describe here, your business will automatically be differentiated from your marketplace competitors. You will have a unique and wholly creative business that your clients will love and clamor for.

What I'm talking about has nothing to do with your chosen business niche, per se. This model can be implemented in any niche market, with any product or any service.

In addition, anyone can adopt this business mindset as it is totally age, gender, culture, education, and experience independent.

Have you guessed yet what I'm talking about? Yes, the title of this post should have given the secret away.

I recently came upon an article that was a great resource for online entrepreneurs. It described the favorite activities of web surfers and other users who were accessing the Internet.

The thought I had was this: why wouldn't a new or aspiring (or even seasoned) business owner want to keep this list on file and return to it often as a way of understanding what activities were important to an online business owner?

Why should these things be important to an online owner?

All over the globe there is a wave of entrepreneurism that is sweeping the small business world both here in America and in far away places. What is fanning the flames of this hot topic is easy access to the Internet.

The pioneers that are striking out on their own to carve business niches and discover new ways to profit from online marketing are simple working men and women with a common desire.

They all want to throw off the shackles of employment slavery.

They want to earn a living owning and operating their own small business.

They want to run their storefronts from the confines of the kitchen table!

I hope the term "solo" doesn't confuse you or cause any concern about what this type of business really refers to. You see, in some folks' minds, "solo" is just one thing - a song that is sung alone by one person.

But as we're using the term here in the business sense, "solo" simply means that you are in business for yourself and by yourself. No partners, no employees, it's just YOU.

You see, back in the 1990s, some high-flying solo business types were labeled “lone eagles.”

The lone eagle image I have etched in my mind is this: a highly paid but restless white collar executive that turns his back on the Wall Street establishment, moves his family to Vail, Aspen, or Park City, and now consults a few hours a day from his ski chalet corner office as he sits atop the world raking in outrageous fees, answering to no one, and living a luxurious jet set lifestyle of travel, fortune, and whatever money can buy.

I don't care what industry you're in or what product or service you sell.

I can tell you, unequivocally, exactly, what the future of your business holds.

How could I possibly know what that is?

Simple.

The future of every business is just one thing . . .

What I am about to tell you may shock you, enrage you, or maybe just disgust you -- but I will not mislead you!

You deserve to hear the naked truth about starting a business on the Internet from someone who has spent his entire career in the small business development field and the past 10 years online.

I want you to understand what is going on all around you in this frenzied and "enlightened" time of global communication, instant access, and light-speed digital transmissions.

Most of us have contemplated starting our own business at one time or another - in fact, some have called this almost universal desire - the new "American Dream."

Are you prepared for a job change?

Any one of a thousand catastrophes could hit your employer in these uncertain economic times. Even positive business events like mergers, buyouts, and spinoffs can have serious negative impacts on your ability to keep fulltime employment and draw a paycheck from your employer.

Your job could be gone tomorrow; it happens to thousands of hard-working employees every day. Today you're gainfully employed - tomorrow you're job hunting!

But enough of the gloom and doom . . . let's talk about an amazing new job alternative that you can take advantage of today that has the power to refresh your life, secure your financial future, and turn the tables 180 degrees so that you become the owner of your own business and the master of your own destiny!

Chances are pretty good that you've known several people, maybe family members, or friends, or past co-workers that have made the leap to private business ownership.

Can you think of any of these people that have a thriving business today? Hopefully, you can . . . but the odds are not good.

I'm guessing you probably have knowledge of more startup failures among your friends than successes.

Here's an alarming statistic:

96% of all small business start-ups are doomed to failure.

I hope that sentence doesn't scare you away from moving forward in starting your own business.

But as I stated earlier, I want you to know the truth about what you're facing and how to side-step the traps others are setting for you.

Now don't get me wrong . . .

I've always been one to look at new year's resolutions as a two-edged sword.

They're a great way to map out your hopes, dreams, and plans for the coming year.

But they generally cause me some pain as I look back on the year now ending and realize all the things that I could have done better.

The human spirit, much like the business spirit, longs to grow and expand, and somehow stretch out into greater being than what it is.

There is a real attraction to purchasing a "business in a box" system.

To someone who has never undertaken the journey of business creation before, it seems logical that the steps could be laid out for you and the ground plowed ahead of you to guide you every step of the way, for just a one-time fee of $999.00

Think of all the time you'll save and the headaches you'll avoid if you don't have to research and actually learn what starting a business is all about!

What you may be overlooking, however, are gigantic business creation problems and voids that must be solved for every company.

This can be one of the most perplexing and difficult decisions you have to make as you decide to create a business.

Here are some questions to ask yourself that may help you to come up with the right decision for YOU.

Obviously, there is no "one best way" to enter self-employment. The choice you make on how to do it will most likely depend upon your current state of affairs: your employment situation, your tolerance for risk, your family size and makeup, and your ability to take care of your financial obligations possibly without a regular paycheck.

There is some wisdom in not rushing things at the outset. Quitting your full time job and putting your loved ones at risk can be a very scary proposition.

If you lose your medical and life insurance coverage, will you be able to afford these new out-of-pocket costs?

How long will you be able to last if your daily and monthly living expenses have to come from your savings account?

There are special challenges and unique rewards for married couples that create and operate a home business in tandem.

This kind of joint project can create new feelings of unity, togetherness, and working for a common goal that many couples don't experience in their hectic "do your own thing" lives.

On the other hand, business partnerships involving mates, if not handled properly, can also intensify negative feelings toward one another, add stress and pressure to a marriage, and drive a wedge in the heart of the relationship.

For these reasons, some couples would never consider working together in a small business, not wanting to risk possible clashes and avoidable irritations.

Have you ever heard that story about the ocean-going ship engine that failed?

I used this story several times in the past, so bear with me if you're heard it before . . .

I've actually heard several slightly different versions of the same story so I know it has "made the rounds" online.

Nevertheless, the story has an important point. One that shouldn't be lost on Internet solo business.

In the version I heard, it was the Queen Elizabeth luxury liner that was in need of an engine repair.

If you sell information, you are, in essence, a paid consultant.

Now you may never have viewed yourself in that light.

Maybe the information you sell takes the form of recommendations on the best cruise lines to book if you want to see Alaska in July. Can you see why you are a consultant in that subject?

Maybe your information business subject is dog grooming. Aunt Mimi has signed on as your customer because she wants you to teach her about grooming Fifi, her toy poodle. You are the consultant - Aunt Mimi is your client.

As soon as your customer signs up for your service (delivered in the form of some type of information), a consultant/client relationship is established.

It doesn't matter if you sell e-books, produce audio clips, run a subscription web site, or design graphics for logos. Digital information is your service and you are giving advice for a fee.

Here is my checklist of crucial questions to ask yourself about your solor business, whether it's still in the making or already cranking out a profit.

Yes, there are some important things to consider beyond what you'll see on this list. But this is a place to begin, a reality check of sorts, to make sure that you understand what your business is about and where you're headed.

[ Just in case you missed the definition of a solo business, it is a small information based business operated by one person on the Internet. The subject of the business will be related to the owner's knowledge, skill, passion, training, or life experiences. - Author's note ]

One of the first considerations in choosing a name for your new online solo enterprise should be to find out if someone else has already reserved and registered the same (or a similar) name.

You can hire this chore out to a professional firm if you have lots of money for such things or if you don't trust your own research capability.

Handing this chore off would probably be a good idea if you were treading on thin ice with your preferred name. For example, if you planned to register a name that is very close to a protected name, something like Amazon Jungle for your new book service, you may want to put the burden of proof on a company that will guarantee their results and have the legal muscle to steer the process through to conclusion.

Please give me a little slack if your State is different than mine. I guess there's a good chance that the sequence of obtaining the necessary business licenses could vary from State to State.

My business was registered in Utah, first as a sole proprietorship and later on as a Subchapter S Corporation.

I'll be the first to admit that I'm not a lawyer and my experience in this realm is limited to just one State. I will tell you what I did. You may find things are done a little differently where you register your business.

I began my license quest at the county administrative office. That ended up being a mistake since they needed to have my DBA and State business registration information before they could process my application.

Every county will have its own procedure and you may find that this is the place to begin tracking down all the licenses and permits that you need. This is the place I started, but was told to register my business name with the State first . . . so that's what I did.

The County Clerk's office will usually be helpful in getting you pointed in the right direction. They'll be able to send you to the proper window to pay your fees.

The type of business you're creating will have a lot to do with the licenses and permits you'll need from the County government.

When most business owners talk about "framing their business license" they are referring to the municipal or city business license that authorizes them to do business at their chosen location.

It is very important, especially before you make any permanent location decisions, to check with your city to see if what you plan to do is allowed in the municipal code.

The city planning and zoning office should be able to help you determine what requirements will apply in your case.

There could be some zoning issues relevant to where you live that might have an impact on your business or the type of license and fees you will be assessed.

I was thinking the other day about how my tastes, preferences, and attitudes have changed over the years since I was first married and had four little ones running under foot.

All my children have now reached adulthood and I'm called "grandpa." (By the way, for any of you staring a similar transition in the face - it's a wonderful thing! It beats the alternative, doesn't it?)

I don't read the same things that used to interest me. I don't watch the same TV I did back then (mostly "kiddie TV" to keep the wee ones happy). The Internet was not around yet.

I'm as guilty as the next small business author. I like to share the business owner personality traits that seem to go hand-in-hand with successful business.

But we rarely discuss the qualities you shouldn't possess.

Maybe we don't like to dwell on the negative. Maybe we feel that as long as the owner has the good qualities, he can also be forgiven for harboring a few of the bad.

Maybe we'd just prefer to keep silent and assume that small business owners hide their personality flaws by keeping to themselves.

These 10 qualities are not reserved for business types. Anyone can become infected. Also, like most diseases, it's a heck of a lot easier to get it than it is to get rid of it.

Among the many choices the entrepreneur faces in setting up a business from scratch is deciding upon the type of structure he/she will set as the framework for the enterprise.

Sometimes the alternatives are few and the choice is readily apparent. At others, it may be difficult to know what's best.

Typically, the decision about the structure of your business is influenced by the following factors and the answers you come up with to some pertinent questions like:

Every business needs a skeleton, a backbone, a framework that gives structure and organization to the operation.

Having a structure also allows you protections and rights under the law and qualifies your business for particular tax and income advantages.

The structure you choose is important. The decision you make will affect your financial, operational, and legal standing and reporting.

It will also create some responsibilities and requirements for reporting that may force you to seek outside help or assistance. Whether you undertake to learn the do-it-yourself way or you opt for some professional help, here are a few ideas to keep in mind.

You're asking the wrong person, I'm afraid. I'd like to hear from some of you out there in Internet land that have experience in this arena.

It's not wise to take advice from someone that has never been involved in MLMs or to make an assessment of their value, potential, and advantages or disadvantages.

Let me just set the stage with this short introduction to get you going:

MLM is short for Multi-Level Marketing. It is the type of business opportunity that appeals to many people because the business model and products have already been proven by others who have been successful at it.

Picture yourself leaving on a journey to a far away place you've never been to before. You're not quite sure how to find this place, but you think you can ask questions of the locals along the way so you'll be able to zero in on your final destination.

Let me ask you: "What's the single best resource you could take with you on the journey if you had your choice?"

Would it be lots of money to buy your way in to the directions you need? Maybe.

Would it be a detailed map that showed you the exact way to your destination? Maybe.

What would you want to take on your journey?

Regardless of your business structure (sole proprietorship, partnership, or corporation) you should apply for an EIN (employer identification number) if you want to be seen as a legitimate business.

Yes, sole proprietors can get by without one. Social security numbers are acceptable on income tax filings for persons without employees. But often those who would do business with your business, i.e. suppliers and vendors, want to see an EIN as a way to verify that you really are in business.

Your EIN will be assigned to your business by the Internal Review Service. It's your taxpayer ID, so to speak, and it will be used by federal, state, and local governments.

One of the ways solo business was conducted for many years in this country (U.S.) was by what I call "the one man band" business model.

An entrepreneur would create or find a product and proceed to sell that product to as many buyers as he could find. Sometimes the owner would develop a full line of products offering the consumer many styles, sizes and other choices.

The one man band was many business employees rolled into one. He did the research and development on the product, the manufacturing and/or purchasing, he was the salesman, the secretary, the customer service representative and the business owner all at the same time.

For many years, solo businessmen worked among the ranks of the self-employed as "organizers" or facilitators of groups of like-minded people.

They held titles such as "consultants," "coaches," "mentors," and "instructors." Sometimes they operated strictly as solo entrepreneurs being the only source of expertise in their company.

Others banded together to form a "team" or group that offered the same type of service but included the perspective and experience of multiple experts that often worked together on one project to provide the service.

These workers would organize their own curriculum, design their own delivery approach, and earn their fee by teaching or coaching their clients either in a one-on-one setting or small group atmosphere.

Since the beginning of time, solo business persons have opened and maintained retail stores that sold products to walk-in customers.

Sometimes the stores featured only specialty items, like a bike shop or bakery. Others carried a range of goods (like a mercantile) but remained small enough that one person could man the shop by himself and perform all the daily functions necessary.

There would be goods to order from manufacturers or wholesalers, shelves to stock, customers to wait on, books to be balanced, and cleaning at the end of the day.

If you are serious about starting a small solo business, there is no greater lesson to learn than how to apply the principle of maximum leverage to everything you do in your business operation.

Your survival, and ultimately your success, will hinge on how well you grasp the concept and make it your slave.

It's a difficult lesson for many, partly because most of us rarely practice applying leverage in our own personal lives. We tend to get complacent and accept low output and/or maintaining the status quo as our daily M.O.

Remember how difficult it was to be 13?

Everybody was always on your case trying to get you to do things you really didn't want to do.

Taking out the trash was a simple and easy enough chore that I was assigned. But oh, how I loved to "forget" to do it.

I wasn't much for raking leaves, pulling weeds, or my least favorite job - cleaning up after the pets.

I was constantly on the lookout for ways to avoid the daily tasks that needed to be done around the house.

I don't always recommend that you seek out an attorney and a financial advisor for your business safety and peace of mind.

And most of you know that I don't recommend the solo business owner buy an already established business.

But if that's your intent, and you have thoroughly checked out the business as I have suggested elsewhere, you still need to make absolutely sure this transaction is exactly what you intend. Surprises are not a good thing in this business.

Since you will most likely be investing a good deal of change in your purchase, and you will be spending the better part of your waking hours on managing your new "used" company, you would be well advised to consult with legal and financial counsel prior to closing the deal.

Digital information is not unlike written information, except that it exists in the form of little data bits that consist of "1s" and "0s."

Every character and many symbols that we use in our language can be represented "digitally" and transferred electronically over wires and cables and even through the air waves.

Those characters are developed or "written" in software programs like MS Word and others but are "saved" as digital files which can then be transferred to other media and output types.

Today I had a rude awakening. I discovered I needed to practice what I preach. I needed to start taking my own advice.

I'll explain what I mean by telling you about my day.

The phone rang this morning a little after 3:00 am. I was tired and thinking I didn't want to answer it. I hate middle-of-the-night calls.

Most parents hate 3 o'clock calls because they worry that there could be some bad news about one of their children or grandchildren or another relative. Why else does the phone ring at 3:00?

Let's face it, many folks that start their own solo business are first time entrepreneurs. They have no history, background, or training in small business development or operation.

That presents a great challenge - one that can certainly be overcome - but one that must be recognized and met head-on.

You see, operating a business is like most other professions. You don't just declare that you want to be in business for yourself and all of a sudden possess all the skills and knowledge that you need to be successful.

Preparation for business success can come in many ways.

Some follow a regimented career path through college and possibly graduate school to learn the art and science of becoming a business owner.

Others choose to get their education from home study courses, books, tapes, and other media presentations.

Most businesses are started by folks that don't have formal training in business. The school of "hard knocks" is their educational backdrop.

Over the next few posts we will be looking at things you can do in your business to:

- gain the education and experience you need to learn important and useful business skills directly related to your success,

- present your business in the best light as one that is real and credible,

- grow your business beyond being just a startup that doesn't go anywhere,

- expand your mind and your opportunities for new business ideas, new products, and creative solutions to business problems,

We're discussing the steps you can take as a business owner to make yourself and your company a professional, trusted, "real" business; not some sloppy and suspect half-hearted attempt to grab a few customer dollars.

Here's the next step: Search out one or more experienced mentors to guide you in your business.

If you can find experienced business people that are willing to provide you some direction, advice, and counseling, you will be miles ahead of the pack of those who simply "go it alone" with no additional help.

I cant' overemphasize the notion that the most successful business owners are the ones that become "students" of small business and especially, their own business model and niche.

What does it mean to be a student of your business?

Some who go into business become so focused on the daily routines and operations, they never take the time to study and learn about doing business in a more efficient and effective manner.

I've seen a vicious cycle, a treadmill that catches business owners in a kind of "time warp" or trap. The owner starts running on the treadmill and can never seem to jump off.

He finds himself running faster and faster to keep his business afloat as he becomes more successful, but he's never able to slow down, catch up, and he can't jump off.

If you want to have a professional and legitimate solo business, you must learn the discipline of setting goals and visualizing where you want your business to be in the future.

Goal-setting is sometimes viewed as nothing more than the worthless act of day dreaming. After all, how can anyone see into the future? Why waste time in guessing where your business will end up 5 or 10 years down the road?

There are three main hang-ups or difficulties with setting goals that keep most folks from realizing the power they hold in their hand when they establish proper goals.

You've probably noticed over your lifetime that companies dealing in quality products and services tend to remain in business over a long period of time.

Others that prefer to push inferior products - and sometimes just good or average quality offerings - usually have a much shorter life cycle.

Why is it? Wouldn't you logically think that cheaper and more affordable items would outsell more expensive ones if they both performed the same basic functions?

I get a number of calls every week that go something like this:

"I want to start a business. I have a wonderful idea. I have no money but so and so told me there were government grants available for new businesses. Can you help me get $50,000 so I can start right away?"

Not wanting to burst the bubble immediately, I might say something like, "What do you want $50,000 for?"

"That's how much I need to rent a building, make some improvements, and set myself up in business. I figure I'll make it all back in the first year."

Here's the number one reason why most people that dream of owning their own business don't ever realize that dream: F-E-A-R

Americans dream about owning a business. 56% of recent survey respondents said that was their great ambition in life. Yet very few ever see that dream materialize.

Most of us work for someone else from our mid twenties until our mid sixties. That's 40 years of our lives, roughly 83,000 hours.

Bruce Judson reports that a Gallup survey of over 1 million U.S. employees found that over 70% are disengaged from their jobs. They have no real commitment to their work or their company. 70%! Wow!

One of the greatest obstacles to man's drive to succeed in his own business (or any other great undertaking, for that matter) is the disdain most of us have for taking risks.

The term "risk" has a very negative connotation for most of us; it suggests a situation that we'd prefer not to encounter.

Why do we dislike risk? As a young child and throughout our schooling we are taught that risk is bad, that we should avoid risk whenever possible . . .

In the past, creating a small business has been a very risky proposition.

You could quit your job to start a new business and not be able to get it back if your business failed.

You could severely cramp you lifestyle if the new business required more time to operate than you expected and didn't return what you wanted.

You could risk losing all your company health insurance benefits, your life insurance, and your 401K.

Let's look at how the Internet, combined with a simple approach to solo business, allows the entrepreneur to control and greatly minimize the risk of creating an owner operated small business.

Risk #1: You could quit your job to start a new business and not be able to get it back if your business failed. A simple approach to online business doesn't require that you quit your job.

You will need to spend time, a considerable amount of time, on your new business; but since it's operated from home (or wherever you have Internet access) you can work on your business before work at your regular job, after work, at lunch, at night and on weekends.

In case you haven't noticed, there is an important trend unfolding in the evolution of modern-day businesses that you need to understand and exploit as a solo Internet business owner.

Years ago, traditional businesses would set up shop in a physical location, stock shelves with the goods the owner expected to be in demand, and lastly open the doors to customers and hope they would buy what was offered.

The solo information business of today is different. No longer does the owner need to make such an expensive commitment to his guess or hunch about which niche is profitable and which products will sell.

Nowhere has the Internet made a more dramatic change in the existing power structure than in the business world.

It used to be that companies wielding the most power and influence were those that operated from a position of strong cash reserves and seemingly unlimited access to professional service muscle like Wall Street financial advisers, Big Five accounting expertise, and legions of powerful corporate attorneys.

The "Big Boys" could buy their way into business advertising that dwarfed their competitors.

II tend to be personally aligned with perfectionists.

I believe in doing the very best I can no matter what I'm doing. I sometimes spend hours on trying to get something right, even though that pursuit is mostly meaningless.

I'm a sucker for puzzles, brain teasers, and word games.

As an entrepreneur, I have to fight this tendency toward perfection and "coming up with the very best solution" all the time.

There is a tendency to believe that in order to have a successful business, you must be better than the other businesses in your niche.

You need to understand that it may be impossible to compete against some businesses in some ways. No matter what you do, they will be better at some things than you could ever be.

But that's OK. There is room for many good businesses in most every niche.

Your challenge will be to pick what you want to be good at, let your customers and prospects know what that specialty is, then execute your business and build your products around that strength.

Don't try to compete in things that you can't excel at. Figure skaters are excellent ice skaters, but their talents may not be of much use to a burly hockey player. They become known for their specially developed and honed skills.

There is a huge amount of talk and banter these days about niche business and the necessity to focus your efforts in very targeted segments of your market sector.

There is a lot less open talk about what it means to position your business in a certain way or stance and how to do it within your specialized niche.

"Positioning" very simply refers to the choices you will be making about how you desire your business to be viewed by others. You will be determining your positioning either consciously by the actions you take, or automatically if you don't do anything to influence your position.

You business positioning differentiates your company and brand from others in the same niche, your competitors, by:

Some business owners have chosen to ship purchased products to their customers at no additional cost with the idea that such generosity could mean the difference between landing a sale or not, all other considerations being equal.

I would caution that you be very careful in implementing this strategy. If you choose to offer free shipping, that's certainly your prerogative as the business owner; but if your business can't really afford this luxury, it could become an awful drain on your capital.

Now, don't get me wrong - I'm not saying you should never employ this strategy. In fact, some businesses have used the "free shipping" tactic to differentiate and set their company apart from all the other competitors in their niche.

Have you ever noticed a shopping cart full of groceries sitting next to the checkout stand at the supermarket?

I've seen it happen a few times and usually figured that someone simply left their wallet or purse at home and would be back soon to claim their abandoned goods.

It's not a big problem since most stores are accommodating about the oversight.

But online, shopping cart abandonment is a huge problem! No one really knows the extent of this loss to e-tailers, but I have seen some estimates that suggest fifty percent or more of all online sales processes are never completed.

In the previous installment we discussed some of the costs associated with delivering physical products to your customers.

Be careful to study the numbers and understand exactly what it is costing your business on a weekly, monthly, and annual basis to send out your goods.

In most instances, it is best to charge your customers about what it costs you to handle and ship their purchase. The amount can vary a little from your exact cost so that you can standardize and simplify the shipping cost structure you present to your buyers.

Having to ship merchandise out to customers reminds me of the hassle of shaving every morning. It's a part of the daily routine, it's something to be tolerated but it's never enjoyed, and the longer you let it go, the more difficult the chore grows for the next day.

In my mind, having to ship merchandise, keep inventory on hand, box and package products, etc, is one of the reasons I feel strongly about solo operators focusing on information based business only. There is no shipping.

If you ship merchandise, you have to keep merchandise. All of a sudden you are in the warehousing and inventory business that presents all kinds of extra manpower costs, worries and hassles.

Often, new business owners figure the only way to increase sales is to put your product or service in front of more people.

Such a strategy usually means that you spend increasing amounts of money on advertising so you can extend your reach in to more and more markets.

Increasing sales by ramping up advertising is one way to pump up the bottom line. But there may be other more effective uses of your business operating budget.

Most small business owners look for additional sales in increased advertising and marketing.

But there are other strategies to explore and some unique methods of driving more sales in your business without turning up any additional customers.

One of those strategies involves up selling - offering additional products to the sales of your current buying pool. You're not having to locate new first time buyers . . . you're simply selling more to those who buy a product.

I spoke with a young gentleman today about his dream to start a business. That's not a rare occurrence as I deal in such discussions quite a few times every week.

As we began talking, it was obvious to me that he was passionate about his idea and his plan to take that idea to market.

His reason for contacting me was to find out where he might begin looking for funding to finance his project. It was the next item on his "to do" list.

Entrepreneur is kind of a funny word. It's obviously of French origin. I've been hunting for years to find its English counterpart, but have not yet come up with a suitable substitute.

Maybe we don't need an English word for entrepreneur - it's used so commonly these days in the English language that most business-minded people, at least, have a pretty good understanding of the term.

My dictionary states the word "entrepreneur" comes from the Old French "entreprendre" which means, "to undertake." An entrepreneur is one who undertakes the creation, organization, operation, and risk of a business venture.

I want to welcome my new friend Chris Elliott to the blog and the amazing world of Internet business. Chris is a high school senior about to make a choice between colleges and is interested in entering the business world after school is completed.

Chris reminds me that there is a legion of potential solo Internet business candidates among us - the future business leaders that will blossom in the coming generation.

Most of the attention I pay to solo business owners goes to those who have a wealth of knowledge and experience under the belt. They are folks that already have some life and business experiences in the work place.

I remember vividly a debate carried on some thirty years ago in one of my graduate school classes that centered on the question of whether it was a good idea to encourage students to set up and operate for-profit businesses prior to their completion of formal education.

There was a very distinct minority that took the side of believing in student run businesses. I was not one of them.

I felt that education shouldn't be interrupted by business world training and pressures. The classroom needed full attention and focus at this critical time.

I was actually born about 40 years too soon.

If I were a teenager today I'd be busy creating a network of web site businesses that I'd set up to grow over time, that could be run mostly on autopilot, and that would passively generate growing income for me for many years to come.

I'd study and learn (mostly online) how to use computers to automate business operation. I'd carefully watch which online business owners were being successful and I'd try to follow their lead.

I've written a number of times on getting started in business and most of those discussions, at some point at least, lead back to the importance to small businesses of doing market research to understand who your customers are and what they really want.

I have come to the conclusion over my years in dealing with small business owners that some of them (the true entrepreneurs) are exceptionally good at the skill of listening, and others (let's call them business road kill) haven't a clue what listening entails and don't ever do it.

That's a critical question for the solo entrepreneur.

When you are the sole business owner, employee, product creator, customer service rep, and shipping clerk you literally become the business.

You have no one to blame, no one to rely on, no one to pass the buck to.

You stand alone bearing your torch to the world and you either make it or you don't on your own skill and wisdom.

You attitude about yourself and the business you've created will make all the difference in the world when it comes to projecting your business in front of your customers.

Many will say that the wealth of resources we have in the United States has allowed this country to step to the forefront of new product development.

They speak of the financial, educational, and natural resources found in the U.S. in abundance as the reason for our world leadership.

When you think about the young age of this country (230 years) compared to other geographically large countries throughout the world, it's quite amazing that the U.S. has taken such a leadership role.

According to a recently released study, over 50 percent of U.S. annual GDP growth (gross domestic product) can be attributed to increases in our innovation.

The U.S. economy is changing dramatically.

It's quite apparent that geography and physical boundaries are becoming less and less critical in company strategic decisions and plans.

Large industrial companies are moving overseas where cheap labor and sometimes relaxed standards or lower taxes allow them to produce more using less.

New companies are springing up in the U.S. to take their places - but these firms are different. They're knowledge-based and their growth is driven by intellectual capital.

Often these knowledge firms gather around one another in clusters in order to feed off each other and create a community were they rub shoulders on a daily basis.

If you have a business based in the U.S. and you pride yourself on having the lowest prices in town (or in your industry), are you ready to be severely challenged?

One of the most evident changes that the U.S. economy has undergone in the past 15 years or so is the flight of industrial and manufacturing companies away from the U.S. Why?

Well there are a lot of reasons, but the basis of this exodus is the fact that labor in the U.S. is increasingly expensive and hard to find.

Owning a small business is the new American Dream. A recent national survey found that nearly 60% of Americans listed owning a business as high on their wish list of things to accomplish, even higher than owning a home.

But how many of those same folks are going to see their dream happen this year, or next, or the next . . .?

If you have this same dream of creating and owning a small business, there's a very high probability that no one in your lifetime is going to step up and hand you your own business.

If you're waiting for the right opportunity to come knocking, I doubt that you'll recognize it.

You see, that opportunity is standing in front of you right now, staring you right in the face.

I believe that every business has the opportunity to "make a difference" in the world today, even if only in a small way.

There are lots of ways of doing that besides merely providing valuable and useful products and services that help people and make their lives better.

By being productive and profitable, a company has the opportunity to contribute to the economic stability of the city and region in which it operates.

Small businesses will also have a number of opportunities to become socially responsible.

Here are a few ideas for the small business owner:

Nothing grabs a prospects attention like seeing his own name printed in a hand-written letter from a friend.

When a business customer feels like he is appreciated, singled out by the owner for some personal attention, and given the opportunity to join in the membership of a group of "insiders," he will likely commit to being personally involved in the niche with this business.

Personal involvement invites activity in forums, registration as a member of a community of serious like-minded folks (either free or paid), and status as a preferred customer (one most likely to buy products from the business.)

The answer won't be a surprise to most; nevertheless, the concept or principle behind the answer needs frequent repeating until it's permanently embedded in the business operator's memory.

Suppose you're hungry and anxious to find something to eat. So you stroll down the block past all the shops peeking in display windows and looking for something to satisfy your appetite. You're particularly sensitive to the sights and smells of each open door as you pass by, but you're not willing to venture inside unless you're fairly satisfied that you'll stay and dine.

Are you likely to stop and sample food that appears to be many days old? You can see the mold and dust growing everywhere. Or would you be more apt to pass on that shop and find something that appeared fresh?

Are you going to stop at the store that displays its food in used, dirty, or leaking containers? Or will you search for items that are presented in an appealing and appetizing manner? Wouldn't you like to see some nice garnishments and maybe a succulent cherry on top?

I believe in small business! I believe in entrepreneurs!

I believe that anyone can create and operate their own successful small business if they will choose a viable niche and apply sound business strategies and principles (which you can learn here).

My favorite solo Internet business strategy suggests you create an information-based business around your education, training, interests, knowledge and passion.

So what is this "passion" I'm talking about? Does it mean you have to like the subject of your business?

Well, not exactly. You see, passion is much more comprehensive and deep than simply "liking" what you do.

Just a few years ago, solo business owners took advantage of the fact that they could market their goods and services online all across the continent.

They lauded the fact that a small time business owner could now effectively compete with other businesses around the country because the Internet removed their geographic boundaries.

But in today's economy, such thinking limits the opportunities you have coming at you from all around the world. Because Internet business is still in its infancy, it's not too late to at least start thinking about gearing up for global business, even if you're just a Lone Wolf working from home.

Don't mistakenly believe that corporate press kits are something reserved for the "big boys" of the business world!

Press kits can be prepared and distributed by any company and they are a great way to get some positive publicity for your solo business.

The idea behind a press kit is to present the media with information and facts about your business in a way that will make it easy for them to publish your story.

You're trying to give them exactly what they would want to see if they were coming to you on their own looking for details about your business.

Here are a few more suggestions of ways to begin a business network of contacts and support if you are creating a new solo business:

7. Own your failures. If you've been an employee of a business that has more than a few employees, you know that often failures in specific campaigns and projects are bantered about without anyone owning up to the blame for the failure.

One person after another deflects the blame from himself and directs it toward another employee.

Soon, the failure is everyone's fault - and thereby - it becomes no one's fault.

I was asked this simple question in a roundtable discussion of business owners recently, and to my utter surprise, a very lively dialogue carried on into the night as the group of us debated the challenges and opportunities that affect small business today in comparison with "the way it used to be" just 10-15 years ago.

My opinion, and that of several others that specialize in online business, was that indeed, small business has changed dramatically for those that have discovered and subsequently embraced the new technologies that empower the small business owner.

Times are changing and every solo business owner needs to design his little company in a way that it can be globally competitive.

Before the Internet, it was often sufficient that a small business only worried about the competition in the local community.

You owned a gift shop and your customer pool was everyone within walking distance, or at least easy driving distance, probably within the radius of your community and maybe a few other small towns within 25 miles.

I've often asked myself this question. It seems that when I was younger no one talked about individuals owing and operating a business without employees to help share in the work.

Here's what I've come to conclude: solo business is possible today because of the tools and resources we all have at our disposal to leverage the workings of the business.

Said another way: The business owner of today can leverage his personal time and effort in running the business (through automation of tasks) such that, by himself, he can accomplish the cumulative tasks of all the other business employees of yesterday.

I have to be careful here because I'm not a search engine optimization wizard.

What I am going to tell you is either what I have experienced or what I have gleaned from others that I consider to be very knowledgeable on the subject.

Often business owners wonder what the best URL or business naming strategy is for an online business or product. Sometimes they even wonder if the domain name has any bearing whatsoever on the search engines.

Of course, the reason to be concerned about SEO is to be able to get as much "organic" (or non-paid search engine) traffic as possible to your web site.

You know I have often commented that "you are the business." Of course I'm talking about the fact that your business reflects your own personal ideas, traits, quirks, tendencies, and ability to be successful or not.

You are the solo creator, the founder, the operator, and only employee of your one man/woman business.

Without you, and everything that you know, do, and are, your business is nothing. There is no business if you don't make it so.

That can either be a great asset or a debilitating burden.

Like most new and innovative things, Internet business for many people seems to be nothing more than a fad, a fancy, a fleeting hot topic that will soon cool off and die in obscurity.

Many computer savvy folks have yet to make a purchase online and some still hold to the notion that the dot com era will soon be over for good.

They reason that e-commerce online is not secure, too much of a passing fantasy, and something that they can easily do without.

The folks over at the Better Business Bureau commissioned a study in 2007 of the adult online shopper's most important issues.

It seems that approximately 60% of those surveyed are primarily concerned about two things: (1) that their personal information could be stolen and sold online or reused by someone else, and (2) that their credit card information could be hijacked by some unscrupulous operator (59%).

Today's post is a bit of rambling about a principle that all of us seek and can, at least to some degree realize, regardless of how our business endeavers pan out.

Of course, from the title of this post you know the principle in mind is that of SUCCESS.

Whether or not you feel that you are a success really depends upon how you define and measure results that you consider to be successful.

Whether in business, life, in your marriage, in your relationships with family and friends, or wherever your "counting" takes place, the level of success you reach is often determined by the standards you set.

Often a web site privacy policy is overlooked, thrown together in haste, or altogether omitted as the site owner is anxious to move on to more glamorous and creative aspects of developing a business home on the Internet.

Privacy policies are sometimes akin to the "fine print" of most lengthy legal documents - something to be tolerated and considered, but probably there only in the extreme case that the user really cares about such things.

I believe, strongly, that the site's privacy policy is very important and something that can greatly enhance the visitor's sense that the site owner really can be trusted - that he/she really does care about the confidentiality of the visitor's personal information.

I have often been asked about the effectiveness of "buying" customer service in a small solo business. Solo owners want to know if putting forth the extra effort to become stellar at giving outstanding customer service will really increase their business bottom line proportionate to the cost of taking the time to rise above mediocre or "standard" and expected service.

There is no doubt that excelling at customer service carries a cost and every business owner must absolutely be keenly aware of all the costs associated with her business. But my feeling has always been that an owner can't afford to decide whether she will choose excellent customer service or not . . . that decision was already made when the owner decided to go into business!

You see, customer service is a mindset, a style of doing business, a method of operating that shouldn't be thought of as an added component to a business that can be turned on or off at the owner's whim.

In every business it is critical that both customers and prospects trust the business owner.

He must be trusted that he will represent his products and services in an honest and fair manner.

The owner must be trusted that he will live up to his claims of service, guarantee, and product quality.

The owner must be trusted with valuable personal information and honest use of checks or credit cards.

In a very real sense, the customer must find the business owner beyond reproach.

Regardless of the product or service you want to sell online as a solo business owner, you will be confronted initially with the task of choosing a viable niche.

Not choosing a niche would be disastrous. You must focus on defining your customer market, the products you are going to sell, and your USP or unique selling proposition.

If all you have at this point is the thought that you want to start an online business ... that's fine but you can't stop there.

Small businesses that are not well defined are immediately doomed to failure. Why?

There are several reasons, but the most important one has to do with targeting your customers. If your offers and marketing are not targeted, you will not be successful in getting your message across to the right buyers.

Trying to sell green widgets to someone who could care less about green widgets will never work.

I came across some wonderful advice written by Benjamin Franklin hundreds of years ago. I thought I would share it with you today and also in the next post. There is so much wisdom and sound advice here.

I hope you can appreciate what he is saying.

Yes, I understand that times have changed and today's business world is much different than when Franklin penned these ideas.

However, the principles behind what he is saying still hold true.

Solo entrepreneurs would do well to follow this advice; especially his wealth-building ideas and his abhorrence of debt.

I thought today I would follow up with a few more of Ben Franklin's ideas about money and work. (Please see the previous post)

I have included a number of his sayings or quotes. All have to do with money, finance, debt, saving, work, and similar topics that are especially appropriate to entrepreneurs.

The solo business owner will find great wisdom in Franklin's messages.

Even though Franklin lived over 200 years ago, his advice is still prudent in today's business world. We all would do well to follow his suggestions.

Often I am asked something like the following:

"Where do you look for answers if your web site and business are not successful?"

It seems that lots of business owners these days are moving to the Internet as a way to make a living. No doubt they've heard all the hype and raves about how much money there is waiting for those who want to extract it from the Internet.

Business is a complex thing and any one trouble spot could be to blame for an under-performing entity. And if many trouble spots are present, the task of identifying them all and fixing them becomes a major undertaking.

If your business isn't performing ... or if it is performing but not at the level you expect, here are the ten areas of your business that I would first analyze in order to remove potential trouble spots:

In the previous post we began discussing where to look (in your business) to find areas that you might grow in your business. What can you do to become more successful?

"Where do you look for answers if your web site and business are not successful as you would want?"

It seems that lots of business owners these days are moving to the Internet as a way to make a living or even a supplemental income. No doubt they've heard all the hype and raves about how much money there is waiting for those who want to extract it from the Internet.

Business is a complex thing and any one trouble spot could be to blame for an under-performing business entity. And if many trouble spots are present, the task of identifying them all and fixing them becomes a major undertaking.

If your business isn't performing ... or if it is performing but not at the level you expect, here are the ten areas of your business that I would first analyze in order to remove potential trouble spots:

More than once I've been asked about the saturation of deep, focused, tiny niches.

It's a logical concern as business owners evaluate their potential for success, either in a new niche or in expanding into a different corner of their currently occupied market.

The reasoning goes like this: "I realize that I need to specialize - to drill down deeply into my niche so that I can focus very tightly on what I do best."

"But I'm worried that if I focus too narrowly, one or more of three bad things will happen: (1) I'll be so targeted in what I'm doing that there will not be a large enough pool of prospects to draw from to support my business; (2) the other businesses already in my narrow niche already have a strangle hold on most of the potential customers and I'll be playing 'catch up' forever; or (3) if I am able to compete in my extremely narrow focus, what happens when I've exhausted all the products and information there is to give my customers?"

Well, I have an answer for each of these concerns!

My guess is ... most entrepreneurs don't go into solo business with the exit door in mind.

Why would they? Entrepreneurs are frantically focusing on starting and growing a business and the last thing they spend time worrying about is how to get out of their business when they are done with it.

Simply put, an exit strategy is a game plan of sorts. It's a thoughtful plan for going out of business.

Why would a business owner want a plan for going out of business?

For some profitable businesses, at least, an exit strategy can include realizing a significant profit above and beyond the revenue that comes from daily operations.

As a solo operator, wouldn't it be important to "collect" or receive payment on the sale of your business that you had created, grew, nurtured, and monetized over a significant number of years?