1 - Risk Taking
If your understanding of life is a belief that life should be risk free... don't ever consider being self employed. We live in an age of entitlement. Somehow... someone else is always responsible for everything in my life. If that's where you live...never open your own business.
Rule No. 1: Take total responsibility for your actions... and for the results of those actions. Be a risk taker... it is called a risk since things can go wrong... things also will go wrong... risks are risks because... (try to handle this) they are risks.
2 - Responsibility
Determine to function in a way where you purchase only what you can afford... only what is in your budget... only what you can handle with your cash flow. If you cannot pay your bills... determine why... go back to the drawing board... do not borrow money or put things on a credit card that you cannot pay off in full every month... You will become the slave of the bank or credit card company.
Rule No. 2: Pay every bill when the bill comes in. Do not use other people or their money. Owe nobody anything. If you can't pay your bills that way... go back and find out why. 45 years ago I made the decision to NEVER take money personally from my business before paying every bill in the house. Such a decision will be tested time and time again.
3 - Being in business
My motivator has always been... that my business is here to serve others... it is not here to serve me... as long as I keep it that way... serving others... blessing others... giving to others... it is amazing how blessed I am in the process.
Rule No. 3: Always do what you do in order to serve and bless your customers... your employees... your vendors... your competitors... do nothing to serve yourself. This will bring true success in your venture.
4 - Reasonable Prices
Never price gouge.... never inflate prices... there is a "market niche" for every business... we always get to choose our own market niche... what kind of clientele are you here to serve... price accordingly to what is reasonable for that market niche.
Rule No. 4: Relate to the market you are comfortable dealing with. My rates are geared to middle class people... that's where I am comfortable... so I price things to that market... it is also the largest market segment... our prices are deliberately affordable... a choice we made to maintain a reasonable price structure for that market.
If making a buck is the major thing for you... I would suggest not opening your own business... that kind of motivator leads to cutting corners... and to saying anything to make a sale or to cover up a mistake... never lie, cheat or steal to make that buck.
Rule No 5: Whenever I deal with others... I work at treating them the same way that I like to be treated... not a bad way to do business... you make a lot of friends that way. People can tell when we are being phony... pretentious... arrogant... and just want to do business with them for what we can get out of it.... not the way to go.
6 - Relationships
Our relationships are the most important thing in our lives... certainly with those we are reaching out to for business but not just with our customers... never sacrifice your family and friends to accumulate more and more "business".
Rule No. 6: Always make time for family and friends... nothing is more important to a successful life and successful business than our time with those we love. I try to treat every person that visits or calls as if they were the only thing I have to do for the rest of the day... I think my wife appreciates it when she knows she has 100% of Philip when we communicate...
7 - Choosing a business
The best advice I ever gave to my son is the same advice I give to people who want to get into their own business... "Do what is in your heart to do".... I love what I do... Innkeeping is more fun than any of the other things I have done... see my "Where I've Been" page... I was created to do this... gifted to do this... prepared to do this by everything else I have done in my life... I will continue to do this because it is what "is in my heart" to do.
Rule No. 7: Always search your heart to find out what you really, really want to be and do... prepare yourself for that as best you can... get a reality check... take a risk... and "go for it"... !!!!!
Think on these things !
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