A startling fact – over 90% of businesses fail miserably and close shop in less than 3 years! From the balance 10% barely 1 or 2% make it really big, the rest of the 8 to 9% just survive or are moderately successful. Do you know the difference between them? More specifically, do you know what it takes to be a successful entrepreneur? While there are many points to be considered, only a select few are really very important. These are the ones that will actually make or break your future. Having said that, let’s jump right in!

First and foremost, you need to understand what entrepreneurship is. It is about taking your idea to the next level by structuring a system about it that continues to grow, expand and develop without you. This also naturally means that you need to be a great leader. Your leadership and greatness will set the tone for your entire company. And to be a great leader, you need to have utmost clarity on your goal. You need to know very precisely what your short term, medium term and long term goals are. Begin with the end in mind. This means that you need to plan everything and leave nothing to chance. This includes your marketing strategies, your communication strategies, etc, right up to your exit strategies.

Traits: Foremost, you need to be action oriented. If there’s something that has a chance to work, you need to try it out using the least resources possible. Measure results, analyze it and then decide what is to be done. Do not fear embarrassment. Do not be concerned for what others might think. Lose your inhibitions and be willing to risk it all, within reason. These are the most common traits of entrepreneurs.

Some more things to remember – you need to be committed yet flexible to change; focus on providing value; see things in “realistic sense”; keep your eyes and ears open to talent, market dynamics and trends; and finally, treat your business in a practical realistic manner. This means that you should always stop doing things that don’t work and be willing to discontinue people who are no longer performing their best. Sadly, this one missing trait is the largest cause of failure in most businesses.

Note – It’s not how fast or smart you are, but your ability to adapt to change, that determines your survival and success. As General Eric Shinseld one said – If you do not like change, you are going to like irrelevance even less. I just remembered reading a prediction by Peter Drucker a few years ago – The Corporation as we know it is unlikely to survive the next 25 years. And the fact is, we are seeing it right now!

Another thing entrepreneurs need to focus upon is – momentum. Once you’ve got your business rolling, a constant push from at least one source should always be present. The moment your business loses momentum, it will require massive resources to get it off the ground again. A good tip is to ensure that a) your marketing message should be present in all your communication. b) Each and every person in your organization should be aware of your sales processes. For example, if there’s a phone call, everyone should be trained to register the contact details before transferring the call to the concerned person. Next, the marketing for the lead should follow a tried and tested script which must be fine tuned regularly more maximum effectiveness. Once this is done, there should be a system that keeps track of follow ups, the intervals between them, upsells, downsells, cross sells, etc. You also need to have a system to classify all leads into prospects, customers, regular customers, etc, based on their buying patterns. Remember, marketing is the only profitable aspect of your business. Everything else including yourself is an expense! So take good care of this baby like a good mother, don’t ever let it out of your sight!

This concludes the most important stuff you need to know, for entrepreneurship. There is one more very important rule I have missed out, and that is – don’t stick to any particular rule or strategy, not even the ones I’ve mentioned! Be flexible and define your own rules! Good luck in your endeavor.

Nirjara Rustom moderates the Management Tips Section of http://www.bharatbhasha.com at http://www.bharatbhasha.com/management.php – here we cover this subject in much more detail.
Do You Know What it Takes to Be a Successful Entrepreneur? It's Not What You Think!

Devil Take the Hindmost: a History of Financial Speculation

Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? How has the psychology of investing changed--and not changed--over the last five hundred years? Edward Chancellor examines the nature of speculation--from medieval Europe to the Tulip mania of the 1630s to today's Internet stock craze. A contributing writer to The Financial Times and The Economist, looks at both the psychological and economic forces that drive people to

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Devil Take the Hindmost:  a History of Financial Speculation

The Motley Fool Investment Guide for Teens: 8 Steps to Having More Money Than Your Parents Ever Dreamed Of

From the personal-finance duo Fortune magazine called “funny, smart, cynical, [and] opinionated” comes savvy financial advice for today’s street-smart young investors.

The Motley Fool has made investing fun and easy for millions of people. Now, it custom designs its wit and wisdom for today’s money-savvy teens. The Motley Fool Investment Guide for Teens helps teens stand out from the ho-hum mutual-fund crowd, build a portfolio of stocks they can actually care about, and take advan

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The Motley Fool Investment Guide for Teens: 8 Steps to Having More Money Than Your Parents Ever Dreamed Of

Most business opportunities promoted online and in the many business opportunity magazines suggest or even claim fast, easy money. It’s what gets people attention and causes them to turn loose some of their money. It’s the fast, easy money and the promise of unlimited WEALTH that gets the wanna-be millionaire’s attention. Most likely many more lost their hard earned money compared to the number of those that actually earned a profit. Some never find it but those that do make a lot of money. About 95% of all the business opportunity sites on the NET are not really worth the time, space, money and so forth.

So is GDI Global Domain International business opportunity program more of the same?

GDI is not like other business opportunities on the Internet. GDI Global Domain International business opportunity has been in business since 1982 and has been ranked 37th in Inc magazine as one of the fastest growing companies. GDI business opportunity is not a fly by night operation, this stood out to me as many online businesses and work from home opportunities are around one day then gone the next. GDI provides you with a very duplicatable and customizable way to help you recruit new members. GDI offers their website business opportunity worldwide. Everyone can work the GDI Global Domain International business opportunity because it’s easy. There are no geographical or income limits with GDI. Global Domains International (GDI) is the most powerful business opportunity on the planet.

What makes GDI Global Domain International business opportunity program offer different from other offers?

When you get down to it, GDI doesn’t offer you web hosting, or a domain name,
though these are included when you join GDI. What GDI is offering is an income opportunity. You have to ask yourself what’s the difference between GDI and every other income opportunity on the web. The differences with GDI are many; however four stand out above the rest:

1) First the income potential, which is based on $ 1 per month per each person you get signed up, which doesn’t appear to be much at first, but when coupled with the second distinguishing feature has a very powerful, very lucrative potential behind it.

2) The second point being the ability to offer the same opportunity to others and earning $ 1 off of each person they are able to give GDI’s tremendous opportunity to. By showing 6 people how to show 6 how to use GDI Global Domain International business opportunity program and in turn having them do the same by the time this reaches its fifth level you stand to earn $ 9,330 per month. That in and of itself is not all that great however if you take into consideration the third point, which is each and every month thereafter you get the $ 9,330 month after month unless more people join GDI or cancel their accounts. Along with a road map to starting your own business it is the practice of many(though not all) GDI members to build their own downlines. This essentially means that rather than signing people up and then sending them on their way, GDI allows for a sponsor to place/give new signups to their immediate downline. The great thing about GDI is that the cost is only $ 10 a month.

3) Third, you need only ask someone to spend $ 10 on investing in their future to convince people that GDI is great for them. At just $ 10 a month most people are willing to give GDI a try and once they do they are hooked.

4) Finally, GDI pays weekly $ 100.00 bonuses for every five new paid members you bring in. This means you can earn unlimited $ 100.00’s every week. Some, earn $ 1000’s each week.


It has been my experience that not only is GDI Global Domain International business opportunity program NOT A SCAM, it is a great opportunity for anyone looking to start working online or for anyone looking to make an extra source of income month after month. From its wonderful opportunity, solid business foundation and stability, awesome support group personally invested in your success and it’s amazingly low price GDI is the BEST online income opportunity for both experience and inexperience online workers. You can sign up for GDI for Free.

George White has been dealing with Online businesses like Network Marketing and Affiliate programs for over 10 years now. To signup for a 7 day FREE trial CLICK HERE
Is GDI Global Domain International Business Opportunity Program A RIPOFF?

“U.S. inflation rises by most since March,” flashed the headlines across the newswire last Thursday. Turns out, consumer prices in America are rising at an annual rate of
3.6%–sharply higher than the Federal Reserve’s “target rate.”

Hold on a minute. Didn’t the Fed say last week that it will keep short-term interest rates near zero until at least mid-2013? How can they keep interest rates low and fight rising inflation?

Here’s the worse-kept secret amongst us economists…

We want inflation. We want fast, sharp inflation. Why? Because if inflation returns, real estate market prices will rise in value and so will the stock market. When the assets consumers own are rising in value, they feel better about things, their confidence turns positive, and they start spending more.

Dealing with inflation is much easier than dealing with deflation. To tame inflation, the Fed raises interest rates. What does it do to fight deflation? Drop money from helicopters?

According to Barlow Research Associates, 53% of U.S. retailers with annual sales in the $ 10.0 million to $ 500 million range have lifted the prices they charge consumers over the past 12 months. Retailers are passing their higher costs to consumers.

We need inflation desperately. And the Fed, I believe, is doing everything in its power to get significant inflation going in this country. Just imagine if housing was rising in value, if your investments were rising in value once again, if real interest rates started to rise without affecting the economy.

If we do not get inflation going in this country soon, we could fall into deflation and follow Japan’s “lost decade,” a 10-year period where prices went down and the economy contracted.

All that money the Fed has been printing for months…those pressmen working overtime…maybe not a bad idea after all.

Michael’s Personal Notes:

I read a Bloomberg story (8/17/11) that said President Obama will deliver a speech after Labor Day weekend to the American people, whereby he will announce that he will be asking Congress for fresh money and more long-term cuts to the U.S. deficit. The story left me totally confused.

The way I read it…

Obama will ask Congress for billions in new dollars to boost the economy. He wants to cut taxes and increase infrastructure spending. The story then said the President will also ask Congress for more than the original $ 1.5 trillion in proposed long-term U.S. deficit cuts.

I don’t understand it. How can you increase spending to boost the economy, lower taxes, and reduce the deficit all at the same time? But then again, I’m not a politician.

Where the Market Stands; Where it’s Headed:

Some facts for my readers…

Last week, the S&P 500 capped off its biggest four-week loss since March of 2009. We all know what happened after March 2009; stocks went up 100%.

The S&P 500 closed last week at a price/earnings multiple of 12.2, the lowest since March of 2009. We all know what happened after March 2009, stocks went up 100%.

Bets by investors in hedge funds that bet against the stock market are now at their highest level since July 2009.

Dear reader, I am long-term bearish on America. Yes, I believe we have yet to see the worst of the bear market that started in late 2007. But the environment today is one of extreme negativity, extreme bearishness. Stocks do not traditionally go in the direction people think they are headed.

Over 90% of investors were scared out of their wits in March of 2009–and stocks went the other way. There is too much consensus on the stock market having thrown in the towel for 2011. Name me one analyst claiming the Dow Jones will surpass its May 2, 2011, high of 12,876. There are none.

The bear market rally that started in March of 2009 remains intact. I believe we will see higher stock prices again before the markets test their March 2009 lows.

What He Said:

“The U.S. reduced interest rates in 2004 to their lowest level in 46 years. And what did Americans do with their access to easy money? They borrowed and borrowed some more, investing the borrowed money into real estate. Looking ahead, perhaps the Fed’s actions (of bringing interest rates so low as to entice consumers to borrow more than they can afford) will one day be regarded as one of the most costly errors committed by it or any other banking system in the last 75 years.” Michael Lombardi in PROFIT CONFIDENTIAL, July 21, 2005. Long before anyone was thinking of a banking crisis, Michael was warning that the coming real estate market bust would create havoc with the banking system.

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Economists: Their Worst-kept Secret for This Economy

Because of the economy the amount of home business seekers has dramatically increased. People are searching every month for ways to supplement their income. This article is intended to lend some advice to those looking for an easy home business.

Thousands of people have earned massive incomes over the last few years. There is no startup business model that has the potential for the low risk of investment then the home business. Thousands of millionaires made their fortune working from home.

With this in mind here are some basic tips to assist you in your home business research.

A home based business is a business. It is unfortunate that many people approach their home business like a hobby. No main street business owner would treat their business like a hobby. It is estimated that 95% of home businesses fail to make any substantial income because of a lack of serious effort. Treated like a business it has the potential to pay you like a business.

Depending upon your knowledge the proper choice for a home business is essential for success. If you do not have any idea where to start, here are a couple suggestions that can help point you in a profitable course.

since the internet has become such a widespread element of homes nowadays it is virtually foolish to not incorporate internet marketing into your home business. With approximately two billion people online around the World you have a colossal audience to market to. There is more than sufficient of room for millions of business owners to produce a momentous income online.

One of the greatest places to initiate an internet based home business is Affiliate Marketing. With Affiliate Marketing you sell other peoples products and services for a generous cut of the profits.

In Affiliate Marketing all the hard work is done for you. The product development, delivery and customer service is all handled by the affiliate owner. They handle the merchant accounts and send you a check for your sales. All you are accountable for is marketing the affiliate product or service. With these things considered Affiliate Marketing makes a moderately easy home business.

Network Marketing is also a profitable home business model that can be promoted on the internet. Network Marketing is similar to Affiliate Marketing. They also supply a product or service and product delivery. You do not have to set up merchant accounts or make available customer service with Network Marketing.

The supreme advantage to Network Marketing is that the income is residual. There are thousands of people that have generated a seven figure residual income that has paid them years after they stopped promoting their business.

Both of these business models have permitted the regular person to produce millions of dollars from the comfort of their home. There are many additional ways to produce an income from home but these are however the most accepted.

With a little study you can discover more information about Affiliate or Network Marketing. There are more options to be had then these business models but many of them are more complex or require a higher risk. These are a good place to start if you are looking for an easy home business.

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