9 Secrets of Successful Entrepreneurs

These strategies can mean the difference between success and failure.

Kim Palmer's book cover "The Economy of You"
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6. They master time management strategies that enable them to maintain full-time jobs along with their side ventures (and the rest of their lives). It's not easy balancing a full-time job and a new entrepreneurial pursuit, but it is possible. Many entrepreneurs report waking up before the rest of their house, or finding slivers of time throughout their day, or otherwise schedule their lives to carve out at least a few hours a week to continue building their business.

7. They find ways to be resilient in the face of inevitable setbacks. Lack of sales, bad reviews – these kinds of negative experiences are an inevitable part of entrepreneurship. The ones who succeed find the strength to keep going anyway.

8. As their businesses grow, they support other small shops and startups by outsourcing tasks, which further enhances their own businesses, and often find other ways to give back as well. Giving back to the community that helped you build your business not only makes you feel good, but it makes your customers feel good, too, and further enhances your brand.

9. They derive a deep sense of financial security and fulfillment from their businesses, far beyond money. Extra money from a new side business is helpful, of course, but side giggers are even more likely to cite a deep and abiding sense of satisfaction that they get from knowing they are creating useful products or services that help people. That's what keeps them going.

If you're ready to launch your own side gig – to save you from financial fear and frustration, to make you more secure and wealthy, and to give you a sense of satisfaction and personal accomplishment beyond what you get from your main source of employment – then consider applying these nine strategies to your own life. You'll be building the economy of you.

This article is excerpted from U.S. News money senior editor Kimberly Palmer's book, "The Economy of You: Discover Your Inner Entrepreneur and Recession-Proof Your Life," which came out this month. Copyright © 2014 Kimberly Palmer. Published by AMACOM Books, a division of American Management Association, New York, NY. Used with permission. All rights reserved.