We all want the American Dream – to take a hobby or a personal interest and make money from it. all successful entrepreneurs will tell you it’s a wonderful feeling, but not without hard work. Read the following 12 tips carefully as they can go a long way towards helping you achieve ultimate entrepreneurial satisfaction.

1) So, You’re Thinking Of Being An Entrepreneur: If you’re doing this to be your own boss, think again. Being an entrepreneur doesn’t mean you can take the easy way out. It’s also not a substitute for simply not being able to find a job. Being an entrepreneur means you have passion for something. Before you take that first step, find that passion because you’re going to have to live it, breathe it and love it – through good times and bad. I’m not saying you need to be married to your work with no time for play (in fact read further and I’ll tell you why it’s important to do the opposite). My critical number one message here is that you need to build your business based off a deep passion you have for a business idea.

2) Know Your Customer: This isn’t an easy one to figure out. It’s not a ten-minute thought process. When understanding marketing and planning a business, truly figure out your target customer. Male, female, young, senior, different ethnicity, hobbies, interests, shopping patterns, complimentary products of interest, etc. This will eventually be the corner stone of your entire business and marketing strategy. Later on, having information on all of these areas will help you identify where your customers are, but also how to effectively reach them, sell to them, keep them, and motivate them to come back.

3) Mentors: Early on in your start-up company, network to find other entrepreneurs who’ve been in your shoes. It’s important to build relationships with others who can offer guidance along the way in your new entrepreneurial journey. Not only will you get solid feedback and advice, but you’ll also learn how to meet strangers and do some solid networking. You can’t be a great entrepreneur in a vacuum.

4) Virtual Assistants: As a start-up or entrepreneur you may not be ready to start hiring your own staff. But you still need to delegate the little projects and focus on the big picture. Find virtual assistants, other freelance professionals or even college interns to help take some of the load off your plate. Staying focused on what really matters can do wonders for progress and momentum for your young company.

5) Learn Technology: If you don’t know your way around technology, jump into the pool and learn. Network with people. Ask lots of questions. Friend others on social media and Twitter who can help answer a quick question or two. By learning how to set up your own blog, for example, you’ll save some money and build up some confidence to start doing more of your own IT work – which will save you even more money down the road.

6) When It Comes To Marketing, Just Do It: The majority of entrepreneurs have the best excuses in the world for NOT marketing. I’ve heard them all. STOP IT. Yes, you can find the time. Yes, you can find out how. And, yes, you do have the budget. And if you have NO budget, turn to social media marketing. Do you know you can do immense amounts of marketing for free just by using LinkedIn, Facebook, Twitter, Digg, Stumbleupon, BizSugar, etc. There is a whole world of marketing out there waiting to help you drive more traffic to your Web site or blog. Even on a limited budget you can start building a customer email list and setting up email marketing campaigns. Make the time. It will pay off.

7) Be A Negotiator: Stop settling for every price that is thrown your way. Try to negotiate on everything. you’ll be amazed at not only how much you can get away with, but also how much better you’ll become at negotiating in a short amount of time. Nothing in life is free, but in my eyes everything is negotiable.

Keep Accurate Bookkeeping: Many of you may look at this and say, “Duh?!?!?” Believe it or not, bookkeeping is one of the most notorious areas entrepreneurs slack off throughout the year. You have an obligation to run a tight ship and protect every ounce of profit. Be tenacious in documenting and recording every receipt and keep track of every possible deduction.

9)Make Adjustments To That Business Plan: You won’t have all the answers the first time around. In marketing companies are constantly trying new things and testing different ways to reach customers. Your business plan is no different. Constantly go back and evaluate your objectives, audience, strategies, tactics, and especially your marketing and PR plan. Even if your budget doesn’t change, always evaluate how you can approach your business in a different, new light.

10) Once A Customer Always A Customer: The easiest customer to sell to is the existing customer. Find ways to cultivate your relationship so that once they buy from you the first time you give them a reason to come back. Develop strong loyalty, rewards and referral programs that make incentives for your customers to return.

11) Work/Life Balance: Some entrepreneurs believe you can’t find success unless you’re working long hours each and every day. This burns you out. Don’t work longer, work smarter. Finding time to step away from the office helps keep your entrepreneurial mind focused and sharp, not to mention well rested.

12) Focus on Publicity: Use the DIY PR Toolkit to get a better understanding on getting the media to cover your company. This downloadable resource offers tips to help you get more media exposure that ultimately increases sales and brings in more satisfied customers.