What are the most important characteristics of a person that will succeed in running his or her own home-biz?

1. Know when and when not to take risks. People who really succeed usually fail miserably the first time around.

2. Know how to buy only things that will make you money. David Mimms of Mimms enterprizes has approximately 1500 employees. It was started by a poor man. He will stress about his employees writing off a $0.79 pack of pencils, yet he'll authorize someone to buy a $75,000 Back-hoe without thinking for more than 1.5 seconds. He knows that this machinery will pay for itself in a few days. Don't nickel and dime your profits away.

3. Know how to pay yourself first, and keep the company thriving. When you've already spent $100 to make $200, and prices go up for future product to $150, jack up your prices to and extra $50, even though you've already paid $100 for what you're about to sell. This will pay to keep your inventory up. Pay yourself reasonably, and remember the more you pay yourself, the more taxes you pay. The more you "buy for the company", the less taxes you pay.

4. If you have emplyees, don't let them slack off. Be hard from the very beginning. Don't be soft and then try to get hard. Make them 10 times worth what you pay them.

5. Anytime you have the opportunity to grow, take it, even if it puts you way behind. Make up for it. Don't be afraid of being behind a little. Just keep a reserve of cash in case everything bottoms out all the sudden.

6. Be extremely confident with whomever you speak to. Sell yourself AND your company to EVERYONE. Even your own family.

7. Don't let ANYONE take advantage of you. Guard your information with your life. Be secure and secretive. Out-wit the thieves and the competition.

8. Be more than willing to break your back to get started. You have to work more than 40 hours a week. You'll find yourself having to work 70 maybe 80 hours some weeks. Allow your most productive employees to work overtime as well, especially if you're behind.

9. Know you're numbers. Get good with them. Watch you're spending, profits, returns, investmensts, and payroll like a hawk watches it's young. Know them inside and out. You shouldn't have to go back and look at the books to know whether your company can afford a new car or not. If you can afford to hire an accountant, make him tell you EVERYTHING. Be stingy in everything you do, without taking away from the quality of your service/product.

10. Be a good person, and earn your respect. Be respectful back, and commend those who work for you. Be highly demanding, but be highly giving (as far as your employess go)as well. Don't get personal, and don't take your work home(I know that's gonna be hard at home, but hopefully you won't be literally at home forever).

11. Offer something that is different and likely to impress your customers. Make it worth more than what they normally pay. Make them happy, after all, the customer is your boss.

Good luck, and go make some money! Hopefully the FairTax will be enacted next year and you won't have to worry so much about the tax aspect...That's gonna be the most stressful.