1 Never go into any new business before you’ve learned the things that are really important from an expert in the field.
2 Consumers now insist on custom-made products and personal service and without these your chances of success are very slim.
3 Obtain rock-solid guarantees from the seller if you want to buy an existing business.
4 If you take on partners make doubly sure they have the same dedication and vision as you, including future development.
5 The greatest threat to the survival of a small business is inadequate cash flow. Get it right.
Source: Run Your Own Business and Make Lots of Money (Bookstorm)