Copyright (c) 2010 Chuck Boyce

When you think of Richard Branson, the image that comes to mind is probably that of a globe-trotting billionaire who may be jumping out of a plane, or circumnavigating the earth in a hot-air balloon, or doing some other amazing thing with amazing people.

You may not think you have much in common with a man like that - at least not yet. But chances are you're a lot more like this amazingly-successful entrepreneur than you think.

Like you, Branson understands the challenges of starting a small business - after all, his own company, Virgin, was once a small business too. He understands the pressure of wondering whether or not your company will survive, of working insane hours just to stay afloat, of feeling alone in the massive business universe. And while we all know plenty about his success, Branson has also experienced his share of failures.

So when Richard Branson gives advice to other entrepreneurs, it's worth paying attention to. And in a recent edition of Entrepreneur magazine, he shared five tips that he firmly believes are the key to starting a successful business.

First and foremost, he believes you will be far more likely to succeed in a business if you like what you're doing in the first place. This might sound like a no-brainer on paper - most people choose to become a business owner because they think it will make them happy. But think about but how many people start those businesses doing something they don't really enjoy simply because they think it's their best option? Focus on something you find meaningful and you'll already be ahead of the game.

Branson's second point is to offer something that stands out in the market. Again, this may sound like simple logic. But how many people start businesses by jumping on a bandwagon and offering a product or service that's already working for someone else? It's important to differentiate in the market and make sure that you're offering at least a spin on something that no one else is offering.

His third and fourth points - offering a product or service your staff can be proud of and being a leader - are directed at small businesspeople that have employees. But even if you're a solo entrepreneur, both points still apply. When you take pride in what your business offers, your customers will be proud to buy it. And you can be a great leader without having a single employee, simply by becoming an expert in your field and a valued voice your clients can turn to for support and advice.

His final point, to be "visible," is especially important if you're a solo entrepreneur. Often those of us who work alone spend our lives in our home offices, communicating with others primarily by phone or email. But there is life beyond electronic media - which is why getting involved in a mastermind group or other local business organization can be so important. It helps to remind the people in your community that you're an active part of the world.

Will these five tips turn you into a multi-zillionaire like Richard Branson? Not necessarily. But if you put them into practice, chances are your small business is going to grow.