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The Key To Success Entrepreneur

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The Key To Success Entrepreneur

  1. 1. The key to success entrepreneur. Presentation By, Mr.Nihar Ranjan Mahapatra. Gamma-165 NDIM 1
  2. 2. Introduction Being an entrepreneur is about more than just starting a business or two, it is about having attitude and the drive to succeed in business. All successful Entrepreneurs have a similar way of thinking and posses several key personal qualities that make them so successful in business. Successful entrepreneurs like to have an inner drive to succeed and grow their business, rather than having a 2
  3. 3. 7 Key Qualities of a Successful Entrepreneur  Inner Drive to Succeed- Entrepreneurs are driven to succeed and expand their business. 2. They see the bigger picture and are often very ambitious. 3. Entrepreneurs set massive goals for themselves and stay committed to achieving them regardless of the obstacles that get in the way.  Openness to Change1. If something is not working for them they simply change. Entrepreneurs know the importance of keeping on top of their industry and the only way to being number one is to evolve and change with the times. They're up to date with the latest technology or service techniques and are always ready to 3
  4. 4.  Strong Belief in themselvesSuccessful entrepreneurs have a healthy opinion of themselves and often have a strong and assertive personality. They are focused and determined to achieve their goals and believe completely in their ability to achieve them. Their self optimism can often been seen by others as flamboyance or arrogance but entrepreneurs are just too focused to spend too time thinking about un-constructive criticism.  Search for New Ideas and InnovationAll entrepreneurs have a passionate desire to do things better and to improve their products or service. They are constantly looking for ways to improve. 4
  5. 5.  Competitive by Nature- Successful entrepreneurs thrive on competition. The only way to reach their goals and live up to their self imposed high standards is to compete with other successful businesses.  Highly Motivated and Energetic- Entrepreneurs are always on the move, full of energy and highly motivated. They are driven to succeed and have an abundance of self motivation. The high standards and ambition of many entrepreneurs demand that they have to be motivated! 5
  6. 6.  Accepting of Constructive Criticism and Rejection- Innovative entrepreneurs are often at the forefront of their industry so they hear the words "it can't be done" quite a bit. They readjust their path if the criticism is constructive and useful to their overall plan, otherwise they will simply disregard the comments as pessimism. Also, the best entrepreneurs know that rejection and obstacles are a part of any leading business and they deal with them 6
  7. 7. Characteristics and Skills 1. 2. Not everyone wants to be an entrepreneur and run their own business. Being an entrepreneur requires specific characteristics and skills that are often achieved through education, hard work, and planning. A skill is the ability to do something specific or to translate knowledge into action. Risk TakerBusinesses face risk. Entrepreneurs minimize risk through research, planning, and skill development. PerceptiveEntrepreneurs view problems as opportunities and challenges. Curious- Entrepreneurs like to know how the things done. They take the time and initiative to pursue the unknown. Imaginative- 7
  8. 8. Goal-setting- Entrepreneurs are motivated by the excitement of staring a new business. Once achieved, they seek out new goals or ventures to try. Hardworking- Entrepreneurs need a great deal of energy to see a venture start and succeed. Self-confidentEntrepreneurs believe in themselves. Their self-confidence takes care of any doubts they may have. FlexibleEntrepreneurs must be flexible in order to adapt to changing 8
  9. 9. Marketability- Entrepreneurs need to ask themselves the following questions about their product, service, or charity: • Does your target market want this product? Prove it. • What is you competition? How much of the market do they own already? How will you take it away from them? • Are you competitively priced? • Is this a short-term venture? How long will it last? • What do you offer that no other product, service, or charity offers? Why would a customer pay money for what you provide? Profitability - To expect a profit, an entrepreneur must ensure that revenue exceeds all costs. Listing expected revenue and expenses can help to achieve this. 9
  10. 10. Conclusion..  True entrepreneurs are resourceful, passionate and driven to succeed and improve. They're pioneers and are comfortable fighting on the frontline The great ones are ready to be laughed at and criticized in the beginning because they can see their path 10
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