As America celebrates our freedom on this 4th of July, I’m reminded why I am an entrepreneur. It all boils down to freedom. Freedom to choose my own businesses, freedom to choose my work environment, freedom to choose how to spend my time.

All entrepreneurs know that you will work much harder for yourself than for anyone else. It’s your own baby and if the work doesn’t get done, you don’t get paid. But I like the idea of knowing that my hard work means money in my own pocket and not someone else’s.

I’m free to make enough money to survive or free to turn my business into an empire.

My grandmother ran a small country store before women could even vote. There were no fancy QuickBook programs back then. Just hand-written notes in a ledger. She never got rich, but she was very rich in other ways. When she died the whole town turned out because everyone knew her. You had to pass the store on the only major freeway.

At a time when women didn’t have the freedom we have today, she was the boss. She was free.

Word of mouth is one of the cheapest and most effective ways to market your business. So it makes sense to perfect it, especially during a recession when advertising can get expensive.

Where there is a seller, there is a buyer. A business just needs to get the word out to the people that want to buy their product or service. And most people like the idea that they are referred by someone they know and trust. Most people would rather go to a dentist or doctor that a friend has recommended than to pick one out of the phonebook. They would rather have a real estate agent or mechanic that has been vetted by someone they know.

A business should have a network of word of mouth warriors that will get your message out to the world in the best possible way. You should always be thinking about how you can expand your network of contacts. The more you actively network with them, the better your results will be.

Help the people in your network by carrying around their business cards and referring business to them as they will do for you. You should work on a percentage basis to encourage others to promote you and vice versa.

It seems obvious, but have a great product, great service and a great message. Then let as many people know about it as possible. Get them to use your product or service and give you a testimonial. You want as many loyal and enthusiastic fans as you can get. And you want them to spread the good word about you.

You must have the best customer service on the planet. Customer service is free and should be at the top of your list when it comes to your business. One negative experience from a customer will result in ten customers who won’t give your business a chance. You want as little negativity as possible and you want people to want to shout your praises from the rooftops.

For a good word of mouth campaign to work you need to be persistent. It takes time to cultivate good working relationships. Customers need time to get to know you and to trust your business. You also have to be willing to help others achieve their goals at the same time. But a good word of mouth plan will pay off in spades in the long run if you stick to it.

Let’s face it, starting a business is a risky endeavor. This is one reason so many people hesitate to do it. It takes guts to give up the security of a steady paycheck to go out and borrow money that you may not be able to pay back or to max out your credit cards and mortgage your house for a business that might not ever get off the ground.

It’s human nature to want to avoid risk. It usually means venturing out of your comfort zone. Most people like staying their comfort zone. Entrepreneurs can’t stay there. They have to take some risks.

A person’s risk-taking potential is influenced by several factors, including their environment, genetics, and their past experiences. What gives one person a thrill might make another run for cover. Some adrenaline junkies out there are hard-wired to take risks. You see them climbing up the sides of tall buildings or jumping out of airplanes. But most people are able to manage their risk and are comfortable taking small risks with steady gains to get a nice return on investment.

We all have an enzyme in our brains called monoamine oxidase (MAO). This is what keeps our impulses in check. People who have a shortage of it are more likely to be risk takers.

So, to answer the question about whether entrepreneurs are risk takers… it depends. Are you someone who always chases after the “get rich quick” schemes? Or do you take calculated risks while seeing into the future and what your business could be if handled correctly? If you don’t take some risks, you’ll never know your true potential. In that sense, all entrepreneurs are risk-takers. It just depends on the degree.

Some people get stuck in the fear of making any kind of decision because they feel they’ll make the wrong one. That can be equally bad because you might just miss that one great opportunity in life.

Entrepreneurs have to make decisions every day. Make the right decision and you could become very wealthy. Make the wrong one and you could become bankrupt. It’s enough to stress out the calmest of us. It’s always going to have some uncertainty associated with it. If we could predict the future we would all be rich.

A good entrepreneur will learn from the bad decisions and correct them quickly. They will also be less likely to repeat the bad decisions. And they will learn to trust their gut to figure out the right path.