Business Tip: A good idea is not enough. Businesses aren’t just about ideas; businesses are about execution.

Business Tip: Don’t spend money until you have the money to spend.

Business Tip: Get all of your partnerships and investment deals in writing. You may be on good terms with them now, but things may change over time.

Business Tip: Ask your customers for their feedback, and really listen to them. Customer feedback is critical to success from the beginning.

Business Tip: Don’t over-extend your business financially. Don’t forget that you need working capital to run the business.

Business Tip: To keep overheads to a minimum when you start out, try to work out of someone’s home or garage. Rent is a huge expense.

Business Tip: Don’t hire any employees until you absolutely have to. They’re a large cost and there are a number of regulations involved.

Business Tip: Research the legal steps and paperwork involved in hiring new employees.

Business Tip: Don’t forget that all businesses need to pay tax, so keep this in mind when calculating your costs.

Business Tip: You need to register any new business. Every country has different regulations for this, so research exactly what you need to do in your location.