1. Failure. Ninety-five percent of small businesses fail within the first five years, but that doesn't mean you'll be one of them. Chances are, your fears of failing are worse in your head than they are in reality. Keep plowing through and you're sure to succeed.

2. Economic uncertainty. The recession is in the forefront of many entrepreneurs' minds, but many small businesses have launched or grown during tumultuous economic times.

3. Being your own boss. It can seem daunting when you launch your business and realize you are responsible for its success or failure--and that's why listing your goals is so important. Whether you identify your daily, weekly or long-term goals, it's important to work toward success rather than focus on the pressure of running the show.

4. Consuming your life. You have to make time for your own life, whether that means hiring an assistant, taking a lunch every day or leaving at 6 p.m.--no matter what is going on in the office.

5. Staying afloat. It takes a lot of money to maintain your business, and when money isn't flowing like you want it to, it can be hard to stay above water. The solution? Never stop putting yourself out there. Even if you get rejected 90 percent of the time, the times when you succeed will pay off.

I follow them on Twitter, which gives me the inside scoop on what's happening over there and when. This Boston Globe article includes the stories of other restaurants and how they're using Twitter to market their menus. It's a great tool to get customers in the door, but it also helps restaurants get feedback from their customers on the customers' terms.

If you haven't tried out Twitter for your business yet, open an account today. It's easy and it's free. In other words, you have nothing to lose.

I had never made this connection until I read this Wall Street Journal article. It's writer, John Mullins, sought out to figure out why so many business plans end up in the trash can after -- or halfway through -- the loan officer or potential investor reads them. He found out that it's because the wannabe business owner made one of five common yet critical mistakes.

In this article, Mullins explains what the traps are and how to avoid them. After reading it, cross-reference his checklist with your business plan to decrease your big idea's chances of meeting the garbage can.

•Move from direct mail to e-mail. Keeping in touch with customers and clients is vital to your business, but you don't have to kill a forest to do it. These days, e-mail is more practical and cost-effective. The trick is how to launch a successful campaign without getting labeled as a spammer, but plenty of Web-based applications designed for small businesses make it easy to build and update opt-in mailing lists and use them to target the right people.

•Try an Internet fax service. Cut the amount of paper you waste with every fax you send and receive, as well as the toner, cartridge and energy costs, with an online service that allows you to fax through your e-mail account or a secure online server. You can choose which pages (if any) require printing and forward the document to anyone else in the office who needs to see it.

•Make your meetings virtual. Yes, it's important to meet with your employees and clients face to face, but unless everyone is in the same building, traveling to and from meetings can eat up lots of time and gas. With a small investment in camera equipment for your laptop, you can conduct a meeting from anywhere, and even share presentations, white board ideas and desktop applications.

• Develop a marketing plan. Use the downtime to work on strategy, marketing materials, lining up trade shows and advertising.


• Start social networking. Learn how Twitter, Facebook and LinkedIn can help you reach new potential customers—and solidify relationships with current ones.


• Build your customer database. Putting all of your customer (and prospective customer) information into a digital format will help you market to these folks effectively.

Get more tips on how to make this summer a productive one at The Hartford Business Journal.

The article also offers some clues as to what you need to do if one of your customers or suppliers files bankruptcy. Look for the next issue of MyBusiness for more on this topic.

According to this New York Times story, technology advocates say the old rules about leaving phones at your desk during meetings no longer apply. Waiting a few hours to respond to an e-mail or text message is no longer acceptable in a constantly connected business world. So where do we draw the line now?

The small business owners in this story agree that phone use during a company meeting is one thing, but texting or checking e-mail during a client meeting is completely unacceptable. Be sure to communicate these rules to your employees--but first make sure they put their phones away. Otherwise they might not hear you.

The hardest part is getting your foot in the door. That's where the nonprofit organization, Business Matchmaking, comes in. The organization holds events to educate small business owners and connect them to potential customers via speed-dating style. Small business owners attend events where they circulate around assigned tables, meeting with procurement officers for 20 minutes each in hopes of finding the right "match." "The idea is that we can put the business owner in front of someone interested in his product or service," former SBA administrator Hector Barreto told CNN. "At the end of the day, no one can guarantee a contract, but the buyers can inform the business how to try for it."

Does it work? Based on data from surveys filled out by past attendees, organizers estimate that $7 billion to $8 billion in contracts have been procured in the past three years from connections made at the networking events. To learn more about how to find and land government contracts, check out this MyBusiness article.

Communicate bad news face-to-face rather than by email.

Lead off the conversation with the unvarnished facts

Interpret the facts; tell them exactly what they mean for the company and for the employees.

Create a positive metaphor. Example: "Times are tough but we've been through tough times before." Or, "We're a team and we'll get through this as a team."

Make it hope-sensible. If you're saying there's reason for hope, provide specifics. Don't just offer platitudes not grounded in reality.

Maybe it's all the talk of these awards around the office, but I took just one look at this New York Times article to realize what a great resource it was for this blog's readers.

Just like there are tips for job seekers on how to make their resumes stand out from the rest, this article offers tips on how to win a business competition. While the article is geared toward business plan competitions, the tips apply no matter what kind of business competition you're entering.

Michele Hoskins, who sells flavored syrup through her South Holland, Ill.-based business Michele Foods, has. While she'd like to keep the company in the family, her daughters haven't shown interest in taking it over, so her best bet is to find a buyer. "I'd love someone to buy the company and help the brand grow," she tells Forbes magazine. Luckily for small business owners like Michele, now is a great time to sell, the article states. For three reasons:
1. Laid-off corporate executives are considering entrepreneurship and are looking to buy.
2. Foreign investors are hoping to scoop up bargains while the U.S. dollar is weak.
3. Prices are at rock-bottom lows.

To get the most monetary value for your "baby," take time to make your business as attractive as possible to buyers. This includes diversifying your customer base, getting an independent audit of your financial statements and assembling a strong advisory team to manage the sale. Check out the article for more advice on preparing to sell your business—and letting go of it gracefully.

The study also found that the industry, in order to survive, will need to shrink in size but expand in terms of the types of businesses it supports.

So what does this mean to you? Well, two things: That you don't necessarily need venture capitalists, but if you do, they might be interested in learning more about your business.

Company E-mailings: If a customer has already subscribed to your company newsletter, use it as a means to ask for feedback. Simply post a call-out at the bottom asking subscribers to rate your business.

Order Confirmations/Follow-Ups: Follow up with customers after they do business with you to make sure they were happy with your service.

Ask Them to Create Their Own: Hold a contest for the best customer testimonial. Have customers create videos, images, audio or any other medium to express how they feel about your company. Award free products or discounted services to the customer with the most creative method of giving feedback.

Offer Incentives at Check-out: Hand customers a comment card when they check out and tell them they'll receive a discount coupon for filling it out before they leave.

For more on customer feedback, check out the "Listen Up" feature in the April/May issue of MyBusiness.

What is it about sayings like these that inspire us to go out and work a little harder—or just feel better about where we are? I'm not sure, but these 10 quotes do the trick. The Donald, Steve Jobs and "Coco" Chanel all chime in.

Jot one or two down and stick them to your desk for those moments when you could use a little pick-me-up.

Doubtful it could work for you? Here are some stats to consider:
•Social networking is on the rise. According to the April Index of Discover Small Business Watch, 38 percent of owners were members of an online social networking community, up from 22 percent in October.
•It's getting easier than ever. A study for Sage North America, a supplier of business management software and services, found that 65 percent of small businesses using social networking sites were more comfortable doing so this year than last.
•It works. According to the Sage North America study, 51 percent of owners with a social networking profile said it helped them acquire and retain customers.

So what are you waiting for? Get started creating your own social networking profile, and while you're at it, be sure to check out what NFIB is doing by following us on Facebook and Twitter!