Welcome to this week’s Carnival of Entrepreneurship. There were many good submissions this week, but alas, time and space are of the essence (two categories good entrepreneurs ought to be all-to-familiar with). Without further ado…

Jeffrey Strain, who began writing personal finance advice for ex-pats in Japan, has posted on the hobby-to-business growth of his wife’s Hello Kitty! enterprise

I really didn’t want to get into more detail about the entire Hello Kitty business because, let’s face it, it forces me to reveal that I know more about Hello Kitty than is healthy for any grown man to know (how many men do you know that can name all the members of Hello Kitty’s family, when she was born or how to tell her apart from her twin sister Mimmy?) Furthermore, all my ads here are going to start being for Hello Kitty related websites & items and that really will be depressing.

We won’t hold it against him, too much. In light of the monster success of Ebay, the prospect of turning one’s hobby into a business empire isn’t all that far-fetched (never was, really). But it takes time and dedication - in other words, how much do you really enjoy your hobby?

Pamela Slim warns against the paralyzing potential of fear, and how to manage fear to lessen your risk and expectedly, to maximize the reward

Fear is simply nature’s way of telling us that there is some risk involved in a situation. Here is how to face it head on so that you work with it, not against it:

1. Examine the truth in the fear.

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2. Get comfortable with being uncomfortable.

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3. Develop a strong safety net.

If I had to pick one to focus and work on, I’d have to pick #2. Click through for some excellent analysis.

And over at Small Biz Survival, we get a list anyone can use - how to delegate without hiring anyone. Online service providers and interns are where I concentrate in my practice. Each model is different, though - the list is worth a look.

From Canada (the Carnival is truly international), Centrerion offers some handy tips to keep tax preparation as un-obtrusive as possible, which is particularly important in Canada. Oh, and in California…

Professor Bainbridge notes the best and worst state tax regimes for business expansion. California has improved since last year, but still falls into the lowest quintile. Plus, Meathead gets a dose.

That’s the carnival for this week! Be sure to check out About’s page on Entrepreneurs for next week’s location, and some good info during the week.