The document provides advice for entrepreneurial success and factors that contribute to business success. It discusses having clear life and career goals. It advises entrepreneurs to know their strengths and weaknesses, maintain enthusiasm, and avoid negativity. The document also recommends developing a business plan, mission statement, managing time effectively, taking calculated risks, and ensuring adequate insurance. The overall message is that entrepreneurs should aspire to success, plan strategically, and work hard to overcome challenges along the way.

1. Strategic Marketing Ventures
Personal Qualities
For
Entrepreneurial Success
Prof.P.Kameswara Rao
RAI BUSINESS SCHOOL
RAI UNIVERSITY-HYDERABAD
PART-I

2. What Do You Want From Life?
Do you have a clear idea what makes you happy?
Maybe it’s having money, spending time with your
family or friends, or maybe having time to spend
on your leisure interests.
Whatever it is, keep it in mind, because this is
your dream, why you’re doing what you’re doing.

3. Know Where You Want to Be
So you know what you want, how will you
achieve it?
Make a list of your aims and decide where you
want to be in one year, five years, and ten years
time.

4. Your Strengths & Weaknesses
Knowing what you’re good at, and what’s best left
to others is very important.
Try to work on your weak spots – but don’t get
hung up about them! Build on what you can do,
and delegate someone else to do what you can’t.

5. Be Enthusiastic
Watch out. Enthusiasm is catching!
If you are excited and positive about your idea,
others will be too. You will inspire passion in
others, which will convince them to support you.

6. Avoid Negativity
I’m sure we’ve all met them, doom and gloom
merchants, people who, no matter how brilliant
the idea, love to pour scorn and “it’ll never
work’s” on your project.
Identify them and, if possible, stay away from
them!

7. Aspire to Success
Believe in yourself, but don’t pretend to be
something you’re not, you are at your most
effective when you are yourself.
Seek out the best in your field and learn from
them, but don’t be intimidated by them.

8. Take the Challenge
Realising your dream is going to present you with
problems and difficulties. View these obstacles as
challenges to be overcome.
It may not be easy, but keep your objectives in
mind and you’ll win through.

9. Making Mistakes
Accept that you’ll make a few mistakes along the
way, and do not let the fear of making mistakes
hold you back.
Look on errors as a learning process, analyse what
went wrong, and decide how to prevent it
happening in the future.

10. Maintain Your Modesty
Once you’ve achieved some success, look to your
next challenge. Don’t get cocky and think you’ve
made it!
There’s always another mountain to climb!

11. In Conclusion
 Decide on your aims
 Set a timescale for achieving these aims
 Analyse your strengths and weaknesses
 Be positive and enthusiastic
 Believe in yourself

12. A Quitter Never Wins!!
&
A Winner Never Quits!!
END OF PART-I

13. Strategic Marketing Ventures
Factors that Contribute to
Business Success
PART-II

14. You can make a difference!
What makes a business succeed? There are of
course many different factors which contribute to
business success or failure.
Here we aim to highlight those factors under
your control, and what you can do to ensure your
business is a success.

15. Aspirations
Aspire to success! Cultivate a positive attitude,
and you will inspire yourself and those around
you.
Believe in yourself. An optimist is much more
likely to thrive than a ‘doom and gloom’
merchant!

16. Plan your Strategy
Most people recognise the benefits of a business
plan. Take planning further and write down
everything you want to achieve, and how you are
going to do it.
Having written plans will help you to stay
focused, and achieve your goals.

17. Mission Statement
Write a mission statement for your business.
All businesses, however small, should have a clear
idea of what they are trying to achieve. Include
standards you adhere to and any constraints
relevant to your business.

18. Information
Are you knowledgeable about your subject?
Perhaps there are some grey areas you need to
brush up on.
Make it a priority to keep up to date with the
latest developments in your field.

19. Time Management
Your time is precious, and if there never seems to
be enough hours in the day it’s worth finding out
where all your time is going to.
Over a few days, keep a note of how long you
spend on individual tasks.

20. Analyse your timed tasks
You may be surprised at the results! Are any of
your tasks uneconomic time wise? If so can you
scrap them, or revise them so they are less
wasteful?
This will give you additional time to spend on
more profitable jobs.

21. Do it now!
“Don’t put off until tomorrow what you can do
today.”
Try to deal with things as they occur, customers
especially appreciate a quick response, and will be
impressed by your efficiency.

22. Take a Gamble
Sometimes in business a calculated risk is
necessary. If you never take any risks you will
not achieve anything.
Don’t jump blindly into risks however, plan and
think through first.

23. Dream
Have a personal ambition, a goal that you want to
achieve. Preferably something attainable!
Focus on your dream when the going gets tough,
remind yourself ‘I am doing this to achieve …..’
It will help to keep you resolute.

24. Insurance
Don’t forget the matter of insurance cover,
especially if you are an employer.
People are much more likely to sue these days, so
ensure you have adequate cover. A large claim
against you could ruin your business.

25. Debt
Most businesses need some financial help to start
up, but caution must be exercised when choosing
the type of loan you need.
Watch out for high interest rates, and hidden
costs such as commission payments.

26. In Conclusion
 Have a positive, can do attitude
 Plan, plan, and plan again
 Keep up to date on your subject
 Manage your time
 Be pro-active
END OF PART-II