Yes, we are in an economic recession, but that doesn’t mean that starting your own business today is impossible or even especially difficult. The recent boom in online start-up companies is an example of how entrepreneurs all over the world are using new technology to launch their businesses with little money to start. So if you are thinking about venturing out into the world of entrepreneurship, here are tips from people who have experience running their own business.

1. Write your business plan down

When you’re starting a new business, potential clients or investors could present themselves at any given moment, so it’s important that you be prepared to talk about your business idea in a compelling and concise manner. Write down your plan on paper. It will help you work out any inconsistencies or flaws in your business model.

2. Surround yourself with supportive people

Regardless of how great you think your business idea is, not everyone will be ecstatic about it. As an aspiring entrepreneur, it’s important that you have a good support network. Every business owner will face tough times, and it’s essential that you don’t let yourself get discouraged by anyone.

3. Don’t work for less than you can afford to

When you’re starting a new business, it’s important to build a strong customer and client base. One good way of doing this is to offer discounts to those who sign on for your services. However, don’t go overboard by charging them less than you can afford to.

4. Stay open-minded

Being an entrepreneur means always adapting to new circumstances. Be flexible in your thinking. Markets and demand for products and services change all the time. The successful business owner must likewise be able to change the way he works and runs his company.

5. Build a reference network

As you attend business meetings and industry conferences, you will meet other professionals who might not need your services specifically but who might be able to help by referring potential customers to you. Always be on the lookout for potential partners.

6. Learn from mistakes

Every new business owner makes mistakes. It is part of the learning process as you set out to start your own company. The key is to know how to admit mistakes and learn from them.

7. Get trained

As an entrepreneur you will be responsible for handling a variety of different jobs at once, some which might fall outside your area of expertise. You don’t need to master each skill, but try to at least have some working knowledge of them. You can google anything and find the answer. Or, you can sign up for a day class or seminar to learn as you go. Knowledge in these areas will come in handy as you work to build your business.

8. Avoid isolation

Aside from a network of clients, customers and partners, it’s good to keep a community of fellow business owners and entrepreneurs around you. Such a network allows you to bounce ideas, vent and share your success.

9. Schedule some down time

When starting a new business, work will take up most of your time. Schedule in some leisure time to relax and recharge your batteries. It can be easy to get carried away with work. Too much of it will leave you burnt-out.

10. Confirm orders

Confirm business orders personally and as fast as possible, especially those requested by email. Like phone manners, email manners are important to building your image.

11. Delegate

Knowing how to delegate work is one of the most important qualities of successful business owners. You can’t do everything yourself. Look for good payroll companies, lawyers, online marketing professionals, and web designers.

12. Maintain good relationships with your banks and lenders

Staying on good terms with your banks and creditors is key when you’re launching a new business enterprise. Having your finances in order means you can focus on the many other tasks involved in making a new business profitable.

13. Keep your eyes on the big picture

Always be on the lookout of new innovations and directions in which to take your business. Remember that the ability to spot opportunities and create opportunities is one of the most important qualities of a successful entrepreneur.

14. Keep work and personal life separate

Being your own boss requires discipline. You have to set your own hours and stick to self-imposed deadlines and timetables. It also means knowing how to keep your personal life and business life separate. If you work from home, set up a separate working area.

15. Hire smart people

Good entrepreneurs know how to recognize talent. If you find someone who seems to have energy and a good head on their shoulders, bring them on board. The better your team is, the more chances your enterprise has of succeeding.

16. Learn phone manners

Always return business calls promptly and be available to answer client complaints or problems. Having good phone manners is essential to building a professional reputation.

17. Seek advice from people who know what they’re talking about

The best people to request business advice form are those who have proven themselves as capable entrepreneurs and business owners. Sign up for a peer-to-peer networking group with other entrepreneurs to discuss potential ideas or problems. Our new Vantage program allows for just that.

18. Have an existing customer base

If possible, build an existing and loyal customer base before launching your business. This involves marketing your idea, telling people and getting the word around so that you can see whether there is in fact a demand for your new product or service.

19. Keep your goals specific

Always have a specific business goal to work towards. This will help you stay focused and moving towards specific targets.

20. Know your industry

Never go into a business that you know nothing about. If you have an idea that relates to an industry that you are unfamiliar with, do your research first before embarking on the new venture.

21. Don’t worry too much about funds

When you are first developing a business idea, don’t focus too much attention on how to get funds or resources. These will come later. The most important thing is coming up with a good idea and a good business plan. Once this is done, finding funding will be easier.

22. Be financially prepared

Most new business go through their initial investments very quickly. Before you launch your business, make sure you have sufficient initial funds to cover you for the next year or two.

23. Make quality your primary concern

Businesses stay in business by providing quality services and products. Quantity is not as important as knowing how to treat customers well and making their experience pleasant and memorable. Quality is what keeps customers coming back.

24. Take advantage of the internet

Take advantage of online business communities like LinkedIn and BusinessWeek Exchange to connect with others for your business needs. The internet is free and incredibly useful for spreading the word about your business to potential clients all over the world.

25.  Be prepared for failure

Failure is not a bad thing, provided you take it not as a permanent defeat, but as a learning experience. Most start-ups fail. This shouldn’t discourage you. Good entrepreneurs know how to get back up and start again.

It’s that time again…time for New Year’s resolutions. Every year seems to go by faster and faster, there seems to be no time to make plans for your business and take the time to improve your business. But, there is. There has to be. It’s too important to bypass. To celebrate 2009, the following is a list of 9 valuable New Year’s resolutions to help you grow or start a business.

1. Save money. Now, more than ever, it is important to manage your company’s finances. Find innovative ways to cut costs, but be careful not to cut out critical activities such as marketing and networking that keeps your business top-of-mind with customers. With today’s online communities, there are many ways to market effectively without spending too much money.

2. Embrace change. Face it – change has already begun. The economy is changing, we have a new President, and laws and regulations for small businesses are about to change. Do your research and understand these new laws and how it will affect your business to make the necessary changes you need in order to keep a positive cash flow.

3. Grow. Frankly, this should always be a resolution for business owners. If your business is in a struggling industry, figure out creative ways to introduce new opportunities. Whether it be launching a sub-division that performs well, or starting another company to supplement your current company, be open to ideas. During a recession can be the best time to start a new business because suppliers such as web design and credit card processing services might have cheaper rates. Take advantage of these opportunities and you can survive and grow during the tough year, while competitors fail.

4. Seek financial advice. Getting a line of credit or increasing your credit limit may be difficult this year so it is important to meet with a banker, CPA, accountant, or other financial advisors to discuss alternative options to help manage cash flow. Factoring and merchant cash advance are two alternative resources for companies that have been in business for a few years.

5. Listen to your partners, customers and employees. Listening. It’s what our grandparents taught us when we were young and we slowly forgot. However, when you listen - truly listen - to your partners’ and customers’ needs, your company can address any issues and work together to make a profit during economic slowdown. Your employees are actually smarter than you think and if you can listen to their ideas before you provide a response, you might land the next profitable product.

6. Build relationships before you need them. I can’t stress this one more. Our economy goes in cycles and will pick up so take this time, especially if it is slower for your business, and re-connect with professional social groups. Get online and not only join network sites such as LinkedIn, but participate.  There are also many specific professional networking sites you can join for your industry. For example, legal professionals can join EsqChat and JDSupra and woman business owners can become a member of Ladies Who Launch.  Just ensure you use these social networking sites effectively, not just as a way to plan happy hour.

7. Be brave – take risks. There is no question that 2009 is going to be a challenging year. It’s going to take courage to get through the year and it’s going to take risks. You must be able to evaluate risks and be brave enough to take them when necessary. Often times, risks turn out to be the best business growth facilitators.

8. Improve your technological skills. I know, I know, it’s tough to learn that stuff and it’s tough to change. But, too bad, you have to. From simple everyday tasks to entire corporations going paperless, technology is taking over. You must jump on the bandwagon if you want your business to improve. Learn software programs, PDA functions, video applications and more. Use online assistants and conferencing. By expanding your skill-set, or knowing the right places to look, you’ll save money and optimize time.

9. Get organized. Whether it takes remodeling your office, buying file cabinets, investing in management software, buying a PDA or smart phone, or something else, you should do what it takes to become organized. The most successful CEOs got there because of time management skills. If you don’t know how to answer the phone and type email at the same time, you’ll never manage 20,000 employees. When you are organized, you not only remember to attend meetings, but you’ll have the time to create an agenda so the meeting accomplishes your objectives and is on-time.

For more advice, or a customized road map to help start or grow your business, visit our StartMe Up program where we provide tips, guides and everything you need to grow your business in 2009.