Nice article(got from a training session)!putting here for my little dear ones who are of same wavelength as me and are in dreams of becoming entrepreneurs..
Integrity
Someone once said, “Right is right even if no one is doing it, and wrong is wrong even if everyone is doing it”. We all hear the news stories about corporate greed and corruption. However, the truth is, successful entrepreneurs and millionaires rated “being honest with everyone” the number one factor of their success. Self-discipline
To become a successful entrepreneur you have to be highly disciplined. If you are trying to build a business from the ground up, a lot of times you’ll be faced with doing all the job functions of a company, such as accounting, marketing, web design, and customer service. You have to develop the ability to get things done, even when you don’t feel like it. Luckily, you can learn self-discipline with the right information and conscious effort.
People management skills
Another critical factor among successful entrepreneurs is having good people management skills. You should make an effort to genuinely like, respect, and appreciate other people. The ability to manage and make them not only work but making them to give 100% of what they can will carry you far in all walks of life, especially your own business.
Supportive relation
Don’t worry that you are alone. I’m not suggesting that you get married before becoming an entrepreneur. That is already a proven barrier.But you should know that having a supportive relation is another big success factor for entrepreneurs. Many times as a business owner, you’ll face tough times , downfalls and risky decisions.Your brother or sister or some one whom you can really trust may be of amazing support to you. One would make enough business mistakes over a course of time. Having a trusted relation that truly believes in your goals, dreams and abilities is priceless.
Strong and Ethic
There’s no substitute for hard work when it comes to becoming a successful entrepreneur. Most people want to do the fastest and easiest solution when it comes to work. If you want to be a success, dedicate yourself to persistent, productive, old fashioned hard work.
Passion
It almost goes without saying that in order to become a successful entrepreneur, you need to be passionate about your business. That doesn’t necessarily mean you have to build a business around something you love. You can (and should) identify a profitable market and then build your business.
Ed dale talked about this in the 30 Day Challenge when he brought up the niche market of trout fishing. He pursued it because of its profit potential. He admits that he didn’t know anything about trout fishing prior to starting a website about it. He became passionate about his niche and learned all he could. Now it’s one of his most profitable businesses.
Loving your business will also make it easier to get through the start-up phase, and other future obstacles.
Strong leadership qualities
Being able to communicate effectively, motivate others, sell your ideas, and be decisive, are just a few of the qualities of a good leader. In order to become a successful entrepreneur you must dedicate yourself to improving your leadership skills and abilities.
Competitiveness
Competition is everywhere. In business, it’s the survival of the fittest. If you can out-market and outperform your competitors, your chance of being a successful entrepreneur will be much greater. Play to win, but never sacrifice your integrity for the sake of a few bucks.
Well-organized
Most struggle with this one . But one should try to improve organizational skills. One of the main reasons small businesses fail is a lack of organization. If you too are unorganized, don’t worry too much. Everyone can learn organization skills with enough hard work, practice, and persistence.
Sales ability
The ability to convince others to make a conscious buying decision is a key becoming a successful entrepreneur. Sales guru Zig Ziglar says, “People don’t buy for logical reasons. They buy for emotional reasons”. Being able to appeal to other people’s emotions is the key to selling your ideas, products, or services.
Two characteristics and qualities of millionaire entrepreneurs that had the least impact on their success
Here are a couple of surprising factors that ranked among the lowest in regards to, the success of entrepreneurs.
1.Luck
Some people look at those with money, fame, or a successful business and say “they were just lucky” or “they were in the right place at the right time”. The truth is, most self-made millionaires and successful entrepreneurs don’t depend on the lottery, gambling, or other people to make them a success.
People see actors and musicians who suddenly become the next big thing and say, “wow they were lucky to be such an overnight success”. When in actuality, most actors and musicians work diligently for years in order to achieve such fame.
There’s a good quote that says, “The harder I work the luckier I get”. I also like the quote “Luck is when preparation meets opportunity”. Don’t make the mistake of believing that luck determines how successful an entrepreneur you can be.
2.Education
Another surprise revealed in this survey was that education (including the choices “attending a top rated school” and “graduating at/near the top of my class”) was ranked near the bottom as a factor of success. The lack of a formal degree should not keep you from pursuing your own business.
This doesn’t mean you won’t have to learn. On the contrary, successful entrepreneurs and millionaires are good at gathering the knowledge they need in order to apply it to their business. The average millionaire reads one non-fiction book per month. Education is important in life, but getting bad grades in high school is not going to keep you from becoming a successful entrepreneur.
To wrap things up
As you can see, the most significant factors that will determine your success as an entrepreneur deal with how well you deal with other people and your own personal behaviors. Our society tells us that we have to get good grades, to get into a good college, to get a good “secure” job. Instead of teaching us to innovate, think creatively, and dream big, we’re taught to fear failure, wait until age 70 to retire, and to depend on the government for our needs . I hope you won’t fall into the same pattern of thinking.
Instead, I hope you’ll take this bit of wisdom on your journey to become a successful entrepreneur.“Whatever you mind can conceive, you can achieve”
Below are some very informative sites..got these from a frnd and felt like sharing...
excellent info regd various types of companies can be found @ above link.
Free management library giving desc. about various aspects of business
To start an LLP & check whether a company name exists already
all details regd. LLP here
Thanks
Gopi Gandi
