I am often asked by aspiring entrepreneurs for tips that are essential to being successful in launching a new commercial venture. Below I have assembled the big 10, something like the 10 Commandments, only for entrepreneurial success. The areas covered below are not negotiable in the process of taking projects. Trying to short-circuit the list is a death knell for any start-up.

The Ten Commandments for Entrepreneurs

#1 Never Take Shortcuts! The market is unforgiving. You only get one shot at making a GREAT First Impression! Do everything in a first class way.

#2 Never Offer an Opportunity for Consideration Without All of the Facts! Until you have fully researched the market, pricing, demographics, etc. never attempt to take your project to decision-makers.

#3 Bootstrapping is always a Great Option! The ability to pre-sell, minimize cash needs and prove the viability of your project can be handled by bootstrapping yourself. You keep the equity!

#4 Know Your Cost of Goods to the Penny! The lowest possible cost of goods, with the highest possible quality features, is essential in creating realistic sales models.

#5 Your Opportunity Must have a Definable Unique Selling Proposition! The Unique Selling Proposition defines your products niche in the marketplace. This establishes the level of risk you face.

#6 Innovate, Innovate, Innovate! The market rewards products with creative, innovative new features and benefits. Think weird and outside the box.

#7 Address Opportunities From Your Life