8 Steps to Entrepreneurial Success in 2008

If you're a businesswoman with an entrepreneurial spirit, you already know what your New Year's resolution is going to be--to successfully launch your own business, doing what you love, working for yourself and making a difference in the world. The following eight tips can help you make that resolution a reality in 2008.

1. Daydream. Take time to meditate and envision a "day in the life" in your entrepreneurial dream. Imagine waking up in the morning, and plan every detail from the time you get out of bed to the time you come home from a long day’s work. Such reflection will allow you to mentally place yourself in your dream.

2. Pick a role model. Research the industry you're planning to break into and identify the key players you’d like to model your success after--those who have successfully achieved longevity within your field of dreams. If your dream is to become an independent financial consultant, investigate the top women leaving their footprint on Wall Street. If fashion is your forte, direct your attention to the leading ladies of modern style.

3. Mark your territory. Take the biography of your ideal businesswoman and reinvent it with your own vision. Write a detailed narrative of what you intend to accomplish and the entrepreneur you aspire to become. Not to be confused with your business plan, this is your first step in getting your ideas out of your head and organized on paper. After all, it’s easier to push an idea to the back of your mind than it is to throw it away once it appears in print. Be sure to emphasize your unique qualities and professional strengths.

4. Get down to business. With a refined storyline as your foundation, your next step is to roll up your sleeves and get started. Create a mission statement that captures the purpose and goal of your entrepreneurial venture, along with your envisioned company values. What do you want your organization to symbolize? What values will remain consistent throughout every aspect of the company and everything you put forth?

5. Know your best quality, and don’t be afraid to flaunt it. Identify your strengths and the areas for opportunity that will make your business stand out among the rest. Conduct a competitive analysis to identify your competition’s limitations or, even better, assess the industry you intend to break into and capitalize on a niche area.

6. Find a mentor. Never underestimate the advantage of having a mentor--or multiple mentors--in your life. This person doesn't have to be in your industry or be a woman. A mentor is someone there to guide you, support you and provide constructive feedback to keep you motivated. Think of this person as your personal cheerleader, but, instead of just cheering, he or she is in the game with you, assessing the field and helping you make the tough calls. This could be a parent or a business companion, an old college professor, or someone you respect and whose opinion you truly value.

7. Learn the art of networking. Networking is an art, but it can be applied and mastered with practice if you’re not genetically wired for it. Be strategic about the functions you attend and the people you associate with. Align yourself with business influentials and opportunities that parallel your goals. And the next time you opt to attend one of the business mixers offered by your local chamber of commerce, remember to work the room with finesse but, above all, with a tactical plan. Seek out established business leaders who can help you get where you want to be, and link up with budding entrepreneurs who are eager to help the next person achieve his or her dreams.

8. Know your worth. As you begin to implement your ideas and your master plan, it’s essential to know your worth and always remain mindful of your ability to negotiate. A plethora of websites and resources are available to help you determine the current average salary for the type of work you do or the going rate for the services you provide. Do your homework and negotiate strategically.