How To Become A Succesfull Entrepreneur?

Question

How To Become A Succesfull Entrepreneur?
- How do we look for opportunity?
- How does we know when and what is a good opportunity?
- What kind of business is recommended and what is not?
- How to start one with low or no money?
- How to minimize failure?
- What are the other points I have to take note?

Answer 1

Look for opportunity within your own life. What do you enjoy? Can you do that enjoyable activity for others? Can you sell the products of that activity?

You know it is a good opportunity after you've researched it and tried it out. Read Entrepreneur magazine, for starters. That will help you get a handle on what businesses are recommended. Of course, all businesses have the opportunity to be blockbusters--for the right person, in the right circumstance.

Starting with no money means you will have to secure a loan from someone--a bank, your friends/family as investors, your credit cards.

I wouldn't worry about minimizing failure. Some of the best learning experiences in life are from "failure." Remember: all business expenses are, at the very least, tax-deductible.

Read Entrepreneur magazine.

Answer 2

The first step is to qualify any advice with the question, "Are you a successful entrepreneur?" The reason being, this is a statistical rarity, and people that have consistently failed or never tried to begin with seem to be the first ones to spew forth their malformed ideas.

I do own and operate my own successful business, and I only want to express one concept to you, and I hope it takes. There is really only one business that is just right for you. It has nothing to do with what anyone else has done, or how they have done it. What would you do 24 hours a day, seven days a week, for free if you could? Whatever this is, you have identified your business. Admittedly, it may take some doing to convert your favorite pastime into an income stream; but let me tell you why the world's great entrepreneurs choose this path:

There will be days when the money is just not there. There will be times when you wonder why you ever left your steady job for this roller coaster of worry and fret. It is during these valleys that people who established their business based on statistical data throw in the towel. Just one more month might have brought them to the turning point, but their heart wasn't in it. You, on the other hand, wisely choose to do something that you dearly love. Why, quitting would be like severing your arm from your body! So you hang tough, and your accrued skills and diligence begin to pay off in a big way.

Not what you asked for, but hopefully of value. Good luck and God bless you!

Answer 3

In some colleges you are able to considerable in entrepreneurial learn or a type of it. Its in certainty a corporation degree. To exchange into an entrepreneur, you purely ought to discover some thing you go with for to sell and sell it.

Answer 4

I would say, you should read. Read every day! Most of the wealthiest people in the world read every day at least 20 minutes. So, start reading. If you do not know what to start with, here is a great pdf list of books about building wealth, making money, building a business etc: http://goo.gl/buAhlW.

I wish you good luck!