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ertEntrepreneurship is believed to have no age limit, but in the recent past a number of youngsters have made it big as successful businessmen. With growing technical advancement and money flow in the local markets, a lot of youngsters feel encouraged to put in their efforts and ideas into business. Introduction of internet has been a milestone in the changing phase of present day entrepreneurship. Gone are the days of practising traditional ways of doing business, today's business world welcomes innovations and new ideas, thus giving opportunity to the young minds. Irrespective of their age, the young brigade today does not fear to take risks and face challenges posed by established and veteran businessmen.

It is this change, that has given rise to the practise of Social entrepreneurship. Social entrepreneurship is the process of absorbing and attracting money, attention, and new talents and innovations. It is this very practice that more and more budding entrepreneurs get attracted and motivated by ace entrepreneurs like Ajaita Shah and Neil Mehta who welcome brilliant ideas of the young minds and strive to achieve a better living standard and improved lives. These social entrepreneurs not just aim on profits and turnovers, but work for the upliftment of the society and bringing about a positive change in the living standards of the people of the society. Their primary concern is solving social issues giving profit returns secondary importance.

Ican India is one of the best and rising groups that promote the practise of Social Entrepreneurship. They do not aim to earn fame and money, rather encourage fresh innovations and ideas. This group believe they have an outstanding educational concept that can prove to be beneficial for students all across the world. They aim at creating a functional network of educational institutes worldwide that will help them reach out to millions of students who can make the best out of this opportunity and other innovative educational ideas offered by this group. Ican aspires to become a full-fledged education service provider that ensure students of their all-round development.

Indian education system is found to be stagnant and far from the standards of what exactly it should be. In such a scenario, Ican aims to bring about a positive change wherein there is enough room for creativity and new ideas. The name itself of this group encourages the students to strive to achieve their dreams and instil in them a positive spirit of growth. Primary goal of this group is âEURoeto empowerâEUR

The classic entrepreneur reveals attributes and competencies that are worth emulating. Anyone can become an entrepreneur by gaining these entrepreneurial attributes.
Throughout the world, it is a fact that the most knowledgeable people at school usually are not those who make it in life or in the world of business. These intelligent ones are often surpassed by those who time after time endeavor to succeed because, they use their qualifications to look for jobs and do not desire to make it on their own.

Entrepreneurship is very crucial to the development of any economy in the world today! Every economy that has witnessed speedy growth has done so because of the existence of a pulsating private sector. Entrepreneurship really represents the only hope of employment for the hundreds of thousands who graduates from our various educational institutions each year throughout the world because, the public sector currently employs less of these graduates.

The New Webster's Dictionary of the English Language defines an entrepreneur as " someone who runs a business at his own financial risk." It is therefore important that we all develop the art of entrepreneurship, master how to reduce risk and how to make our businesses bloom. Entrepreneurship is an art, meaning, certain requisite skills and special abilities must be acquired and developed.

Let us discuss those skills that will make you an excellent and successful entrepreneur.

Skill #1: Learn to identify an opportunity.
It is said that opportunity is seen with the mind and not the eyes. Therefore, it is important to develop our minds so to easily identify great opportunities all around us. The developing of our minds to spot opportunities begins with a change of the way we think. We are really the way we think. Therefore, the way you are make you see things differently. For example, in my country, there are two school of thoughts. One thought believe that graduates should humble themselves, combine their acquired skills to do the so call "dirty" works so to be rich. The other thought believe that graduates are the "special" ones and must sit in the glamorous offices.

But with time, I have come to the realization that, those who follow the former school of thought become the rich ones who end up employing those who follow the latter school of thought. You are really what you think! Opportunities have to be taken, but they seldom come long without a measure of risk attached to them. Opportunities when spotted, draw people in an inimitable way.

They release energy for their fulfillment and rouse people in an infectious way into doing the seemingly impossible. Just like young David in my favorite Sunday School Story of "David and Goliath", David spotted the opportunity that will catapult him to richness and fame by fighting the ferocious Goliath when everybody backed off.

It was risky for a young lad to fight such a giant but he went for it and succeeded. Change the way you think and your beliefs will change, change your beliefs and your expectations will change, change your expectations and your attitude will change, change your attitude and your behaviour will change, and when you change your
behaviour, you will lucidly and vividly see all the opportunities around you.

Skill #2: Prepare for hard work.
Yes! it is true that being an entrepreneur gives you the temerity of your time. That is, you decide where to go and at what time, which is not the case for most employees. That, not withstanding, should not pave way for slothfulness whatsoever. An entrepreneur works hard, though unlike most employees, he or she (the entrepreneur) receives the right reward for his or her labor. Entrepreneurs have time for nothing else other than work, real work. In the art of entrepreneurship, hands - on dedication is required and nothing less will be sufficient. Entrepreneurship means given your 110% commitment. All self - made millionaires would tell you this.

Skill #3: Doing something you love doing best.
In the story of David and Goliath, David had practiced on a countless number of times how to use his slingshot. In fact, it was his slingshot he used in the killing of bears which attacked his lambs. Therefore, when Saul, his King, offered him his glamorous armor, he opted for his slingshot with just five smooth stones. That was what he knew best. He also decided to fight Goliath to defend his people because to him David, he had been practicing the art of defense in the bush. So he did what he loved doing best and excelled.
Be passionate at what you intend doing. If you do what you love, you are going to be better at it with time. It is very important that you do what you love doing best because, you are able to rise again even if you fall short the first time as in the case of most entrepreneurs.

Skill #4: Prepare to take risks.
There are always some risks involved in any new mission and you have to be prepared to assess these risks, as they present themselves. Everyone, one way or the other takes risks in life. However, most of the risks most people take are the ones that do not bring about any life changing success. Rather, it is the difficult ones that bring the unbeatable prosperity that most people stay away from. In my favorite David and Goliath story, though King Saul offered part of his kingdom as well as good riches to any man that is able to conquer Goliath, everyone stayed away, including the most experienced soldiers of Israel. It was little David who risked his life, fought Goliath, and conquered him. No wonder he later became the king of Israel and very rich.

Most people are usually afraid to take risk. It is not the risk in any venture that makes them fail, but their fear to fail makes them fail. Successful entrepreneurs are not afraid to fail. They just hate to fail. Their passion to overcome risk and succeed makes them prosperous. Actually, passion is the combination of love and hate. Love for what you desire and hate for you abhor. As an entrepreneur, love to take risk but hate to fail in your risky actions. Stop telling yourself, "what will happen if I fail." I am please that in all occasions, the little word "if" is used. The entrepreneur tells himself, "how can I fail."

Usually, it the lack of the right knowledge that makes investing risk. When you know what you are doing, you overcome all risks and you succeed. It our ignorance - believing that what you don't know is not important, makes some people fall in the world of business. Education is the key for the elimination of ignorance. The education should include: time management, cash flow management, management of people, accounting, investing (the science of money making money), understanding the markets and the law. Ignorance makes investing risky.

Skill #5: Developing a clear vision.
Entrepreneurship is about going somewhere and it begins with a clear vision. When your employees cannot ascertain where you are going and what you intend to achieve,
they will have a hard time getting excited about the journey and may result in abandonment. As an entrepreneur clear vision should first communicate your purpose. With your purpose, I mean the kind of "business" you are in, where you are going and why. Your "why" must be very strong, since it easily help you do the "how".

Secondly, your vision should commune your picture of the future of your business. That is to say, what will your future be like, if your purpose is realized. Finally, your vision must portray your values, what you stand for as well as the principles you will make your in progress decisions. When your vision is persuasive, it communicates to people who you are, where you are going and what will guide your journey in the world of business.

Your vision is what keeps you and your business going, when times are really tough and will avert your business from stopping short or arriving at the wrong destination. I placed this skill last because, to me, all the other skills mentioned earlier hang on this.

You have what it takes to succeed. Go all out!

UNDERSTANDING Entrepreneurship
Today entrepreneurship is most commonly viewed as undertaking Innovation and bearing risk. Entrepreneurship can also be seen as economic Development as a continuum of series of new processes, new markets, new sources, and new organizations all of which are a product of entrepreneurial activity. There is abundant evidence that the productivity of the new, entering businesses is higher than that of the older businesses that they replace.
Entrepreneurship is rare and unlearned because (a) it charts the unknown; and (b) experience may be a hindrance to change. Besides innovation, risk-bearing is an essential element of entrepreneurship. When a new firm, a new product or a new process is formed, prospects are uncertain. It is the entrepreneur who must bear the risks involved since; others lacking the vision may be unwilling to take the risk.
Entrepreneurship is the process of identifying, developing, and bringing a vision to life. The vision may be an innovative idea, an opportunity, or simply a better way to do something. The end result of this process is the creation of a new venture, formed under conditions of risk and considerable uncertainty.
Entrepreneurs are therefore, usually considered to bear risk while pursuing opportunities, and are often associated with creative and innovative ideas. Typically it is noted that entrepreneurs start small and with their own funding. Banks and financiers like to finance success not unknown. Venture capital industry arises in advanced countries to discover entrepreneurs but this industry requires substantial legal and financial development to take root. The institutional infrastructure of poor countries does not lend itself to the development of entrepreneurship. If the innovative idea must be implemented in a smaller set up and the evidence being that small firms account for only a negligible part of the R&D being actually undertaken [Scherer (1991)] then the question arises from where do the small firms get their innovative ideas? The answer lies in
Knowledge spillovers. Griliches (1992) suggests that knowledge spills over
From the firm or research institute producing knowledge to another firm that
Commercializes it. This view is supported by the theoretical models [Romer
(1986) and (1990); Krugman (1991)] that focus upon the role that knowledge
spillover plays in generating increasing returns and hence economic growth.
The role of geographical proximity has also been recognised in knowledge
spillovers. The theory of localisation suggests that since geographic
proximity is needed to transmit knowledge, especially tacit knowledge,
knowledge spillovers tend to be localised within a geographic region [Jaffe,
Trajtenberg and Henderson (1993)]. Although the telecom revolution has
reduced the cost of transmitting information, knowledge which is based on
structures and analysis is not easily acquired and requires specific investment.
It is not surprising that even in today's info-tech world, industries tend to cluster together.

Study of entrepreneur and entrepreneurship within the economy is Entrepreneurial Economics. Not only factors or inputs are important for economic growth, it also requires human creativity and fruitful entrepreneurship to make them useful. There is a need of an environment that promotes free entrepreneurship for the sake economic growth. Earlier entrepreneurship in the field of economics was ignored and if it remains the same then economy would continue to fail because economy wants innovation, new projects, new industries and sectors and that can be achieved by high level of entrepreneurship.
Traditional tools of economics cannot analyze entrepreneurship, e.g. Equilibrium model. In case of this particular model, Joseph Schumpeter and Israel Kirzner entrepreneurship do not bear equilibrium. As per earlier thinkers, Max Weber suggested that some religious belief systems do not support entrepreneurship but has a direct relation between ethics and economic system whereas sociologist K Samuelson said there doesn't exist relation between the two.
Study conducted in India concluded set of characteristics of successful entrepreneurs that are cross-culturally valid and considered them important and linked them with the form of socialization in the society. A third group of thinkers says that entrepreneurship predicted by economists cannot be developed in a country where production factors are highly mobile, all have knowledge about all possibilities.
A fourth school of thought give importance to operational skills along with market opportunities to run a business.
As a whole common characteristics are identification and perception of economic opportunity, technical, organizational and behavioral skills, managerial competence, and motivation.
According to Schumpeter, entrepreneur is a risk bearer, innovator and a coordinator cum manager. Sociological approach suggests that some social classes will work to fill the void and be more entrepreneurial whereas economic approach suggests that entrepreneurs identify and fill market gaps.
According to Drucker, an entrepreneur is the one who seek for opportunities, looks for change and exploit them. Another type of innovator is the intrapreneur, who bears less risk because they work in an existing organization.
Coase believes that Entrepreneurial economics challenges fundamental principles, using insights from models and theories in the natural sciences.
Social entrepreneur A social entrepreneur is a person who works for the society and address the issues of the society in order to improve, maintain and change the social, environmental, educational and economic conditions. Social entrepreneur is motivated by a desire to help rather than by the desire for profit. Key traits and characteristics of effective social entrepreneurs include ambition and lack of acceptance of the status quo (not accepting the existing position of affairs or not accepting the world "as it is"). To handle global problems social entrepreneur seek to develop innovative to global problems.
Social entrepreneurs create social value through the improvement of goods and services offered to the community. Their main aim is to help others and to offer a better service in order to improve the welfare of the society and is run as nonprofit schemes. Zahra et al. said that âEURoesocial entrepreneurs make major and varied contributions to their communities and societies, adopting business models to offer creative solutions to complex and persistent social problemsâEUR

Entrepreneurship

Entrepreneurship is an act in which a person takes risks by adopting new ideas and innovations and changes them into economic goods putting intellectual and professional skills in it. It can be termed as starting a new business or improve a mature business in a new way to seek better opportunity.
Entrepreneurship may not only include creative activities but also may be even part time job and may be creating many job opportunities. Many types of agencies and organizations are present to boost up entrepreneurial activities at every place. Entrepreneurship new emerged forms are social entrepreneurship political entrepreneurship and knowledge entrepreneurship. Entrepreneur is an important factor in microeconomics that was ignored earlier in 17th and 18th century that was shown in the work of Adam Smith and Richard. In 20th century it was studied a lot by lot of scholars and researchers. Entrepreneurship called "the gale of atomic destruction "that means that a minor change in existing products through creative innovation and on the other side creating new business models in an existing economy. Different scholars argued that entrepreneur is the risk bearer but according to Schumpeter it does not but capitalist does so. Entrepreneur is a French word, in English it is termed as a person who has an enterprise, idea and innovation bearing all the risks in any industry. Management skills and strong team building characteristics are needed for becoming a successful entrepreneur. Entrepreneur seeks opportunity available in the market and produce economic benefits for himself or herself and for other common man. Peers have a greater influence on the personality of the entrepreneur as well as they are extrovert kind of personality. There is a lack of clarity in judging the personality of the entrepreneur in different cultures.
In Pakistan innovation and risk taking is severely inhibited by the intrusive role of government in the marketplace. From the early days of planning when protection and subsidy policies determined winners in the market place, entrepreneurship has been diverted to seeking government favors and other illegal paths. Government economic policy also seeks to promote growth through multiple ways.
Basically 'mercantilist' approach where domestic commerce through seriously
neglect is heavily regulated. This sector either employs most of the poor or offers them entrepreneurial opportunities. For service and domestic sector State government has remained extremely indifferent to this very important
Sector that is inadequate and unsatisfactory form, further creating problems for policy.

First, consider those distinguish characteristics that the person who opens his or her business from the person who works for someone else.

Studies investigated successful and unsuccessful owners, some of whom went bankrupt several times. Some of them were successful only after the second or third try. The characteristics they share might almost said to predispose a person into trying to start a business. Of course, not all of these characteristics appear in every small business owner-manager, but the following seem to be most predominating.

People who start their own business may be members of different political parties, feel differently about religion, economics and other issues than others do. Based on the human nature, they are just like everyone else. The difference is they usually have strong feelings and opinions toward to the issues or the things they are facing; they also express themselves more strongly in a consistent way.

If you are going to risk your money and time in your own business, you must have a strong feeling that you will success otherwise you will not do it.

Well, sometime these strong feelings may also cause problems. For example, in the business practice, you know the manager must have authority to get things done instead of others, but you are not comfortable of working under someone. This indicated that your might have similar attitude in a scholastic, family or other authority structure, which will make you feel uncomfortable if there somebody ask you do something.

Therefore, if you want to open your own business, you probably already have a strong "Need for Achievement". This "Need for Achievement" is a psychologist's term for motivation and it usually measured by tests. It can be an important factor in your success.

On the other hand, the person, who would not think of starting a business, might call you a plunger, a gambler, a high-risk taker. Well as a person so passionate to "need for achievement", you probably do not feel that about yourself.

Studies also have shown that the small business owner does not differ from anyone else in risk avoidance or aversion when measured on tests. You may thought this seems unreasonable since logic tells us that it is risky to open your own business.

One time, a management expert did a very simple explanation to this apparent contradiction: "When a person starts and manages his own business he doesn't see risks; he sees only factors that he can control to his advantage." Which means that if you possess these traits to some certain degree, it does not mean you will be successful; it is only meaning that you will very likely start your own business. Some of these characteristics in excess may actually hamper you if you are not careful.

As studies result, the characteristics that appear most frequently among "successful" small business managers are included drive, thinking ability, competence in human relations, communication skills and technical knowledge.

Drive - as defined in the study, is composed of responsibility, vigor, initiative, persistence and health.

Thinking ability - consists of original, creative, critical, and analytical thinking.

Competency in human relations - means emotional stability, sociability, good personal relations, consideration, cheerfulness, cooperation and tactfulness.

Communication skills - include verbal comprehension, and oral and written communications.

Technical knowledge - is the manager's comprehension of the physical process of producing goods or services, and the ability to use the information purposefully.

Motivation or drive is one of the main factors that has been considered long time in carry out effective performance. Psychologists now claim that you can increase the motivation and the personal capacities, which will improve your effectiveness and increase your chances for success.

Much of the development of such achievement motivation is depends on setting yourself the right kind of goals, in other words, you need to set up the right goals regarding to your own needs in order to achieve success.

I participated in a leadership course for youth this last weekend and walked away thinking about how every entrepreneur I know is a leader, and I usually find a correlation between each entrepreneur's leadership skills and their relative success. So, which comes first? Do you have to be a leader before you can be an entrepreneur? Or can you become an entrepreneur and learn the leadership skills you need to succeed?

I'm certainly not the authority on either topic, but I have consumed a lot and even created a little content on both. I cannot recall any author or speaker ever taking them on in this context. So I'm just going to jump right in with my thoughts, and I would welcome others to do the same.

I believe some have a more natural tendency toward being leaders and entrepreneurs. But these same folks often rely on their natural abilities and neglect developing some of the core skills and attributes to augment their effectiveness. It's like a high school running back who uses his god-given speed and reflexes to thrive, only to realize the guys he's competing with for a starting spot in college all have as much or more natural ability than he has.

Which leads to the next point-besides innate leadership and entrepreneurship tendencies, many of the skills that make successful leaders and entrepreneurs can be learned, developed, practiced, and honed. The leadership course in which I participated focused on four such skills: vision, communication, organization, and synergism.

A few years ago I worked with a man who was thrust into a leadership position. He had lived a life behind the scenes, and that's where he preferred to be. And, as far as textbook definitions go, he was not much of a leader. He struggled mightily with public speaking, lacked natural charisma, and shied away from trying to assert his thoughts on others. By every assessment tool he should have failed in his leadership role. But he thrived. Why? Because he worked hard to learn and develop that which he could. And those he lead could see his efforts and were happy to tolerate any deficiencies or flaws. In fact, his weaknesses became endearing to those he lead. I bet you won't find that in a textbook anywhere!

I heard Dan Sullivan speak recently, and he said something that I will never forget-leadership cannot be commoditized. I think the same for entrepreneurship. You just can't bottle it up and sell it off the shelf? Why? Because each leader and entrepreneur is unique, and their unique skills, attributes, and approaches to the task-at-hand result in varying ways to get the job done. And a big part of that is because it has to come from the heart, meaning there are as many different styles of leadership and entrepreneurship as their are leaders and entrepreneurs.

This is just a start to my thoughts on this subject. In the same manner that we have no conclusive answer to the the question "Which came first-the chicken or the egg?', entrepreneurship and leadership are so connected and intertwined I don't think we can ever really know which came first. Are there any entrepreneurs out there that think they were one or the other first? I bet the answer is unique to each one of us, further validating the point that these disciplines come from the heart and the unique spirit of each of us.

Who does not want to be the boss of his own company? But very few realize this dream. What is the reason behind it? Fear of failure is one of the biggest factors that don't allow a person to turn entrepreneur. After all, we all have families to support, liabilities to shoulder and one misstep could result in problems created for them. And who wants to lead one's family into trouble?

But despite all this, don't you ever feel that you should start a business venture of your own without actually quitting your job. Your job provides you and your family security and safety but there is something that your heart wants and that could only be provided if you turn an entrepreneur. Job satisfaction is something that few care about but few could actually ignore its impact.

So, what needs to be done? What should be the course of action for you when you know you can't possibly quit the job? Well, the answer is straight forward. You can easily take the route of part time business. But let me tell you one thing. The word "easily" is just not suited for this scenario. Taking this decision could be a little bit easier than actual implementation of this idea. If you are really committed to turning a part time entrepreneur, then only you should venture into the field of part time entrepreneurship.

Well, you would have to spend more of your time working. You would have your regular job and you would also have your part time business to take care of. That is really time-taking.

Before you opt for part time entrepreneurship, I would like to give you a few suggestions. Hope it proves helpful.

The very first thing I would like to emphasize on would surely be your family. Always keep your family up dated about what you want to do. It is true that when your part time business becomes successful, you might think of quitting your regular job but until then you would be a lot busier and your family would have to support you in that period. You would have to convince them that it is for the good of all.

Always have a professional outlook with your part time business. Part time or full time, a business is always a business. So, even if you are conducting your part time business from home, you need to have a room that should be exclusive for your business activities. You would do well to have a separate phone and fax line for your business. The same goes with business license also.

If you plant a tree, do you get the fruit the same day? No, it takes time to bear fruit. Well, it is the same with part time business also. Be PATIENT. Be very realistic about your part time business. Any new business takes time to start running and it would be the same with yours also. Show patience during this initial transition phase.

I sincerely hope that you would take steps to fulfill your dreams of turning into an entrepreneur.

If you are thinking of a rewarding career, putting up a daycare center is one of it. Owning and managing a daycare center can help you touch the lives of many children and can help out parents in looking after their kids. If you have patience and understanding with kids and you love being with them, definitely, a daycare business is the right one for you.

Since there are plenty of parents (father and mother) are busy working, the demand for a daycare is high. Parents need to bring their kids in a daycare when they are away for work.

Having a facility for children can be emotionally rewarding. Knowing the fact that you can touch the lives of many children, you can make them gain confidence and you can teach them with lots of things is truly rewarding.

Putting this business can make you care for your own kids and at the same time, you will take good care other children. This can help you enjoy your time at home with lots of children. Before operating your business, you need to have a business plan; it can help you successfully run your business. Do your math. Make some research, there are books that you can purchase in the market or online that can guide you in starting up a daycare business.

There are heaps of questions you need to answer before opening your business.

-Do you community need a daycare center?
-Can you charge enough in your area, what are the on going rates in your community?
-If you are going to put up a daycare in your home which will you use, will you convert your garage or yard into a facility for children?
-Do you know the rules and regulations in your state or county?
-How much capital you can afford in starting up a business?
-How do you handle the discipline issues?
-Do you have your own rules and regulations in your center?
-How many hours will you be operating each day?
-What meal will you be serving? Will you provide breakfast for the kids?
-What are the activities that the children will do each day?
-Are you CPR certified? Do you know how to handle first aid?
-What are the insurances that you need for your business?
-Do you know how to market your business?

These are some of the questions you need to think about. This can help you in starting up your daycare center successfully.

They don't give you a master’s degree in how to become a successful entrepreneur in a high priced business school! Why? Because, while you learn how to run and manage a business, you're often left to fend for yourself with a bunch of theory that may not work for you, especially in today's marketplace.

What they lack, and what you need, are practical, real time, step-by-step strategies to be successful in an ever changing marketplace -- and not just marketing theory. You see, I know that intimately. Because for years, I searched high and low for practical success strategies. Particularly for today's success-minded woman, and there simply wasn't anything out there. Nothing.

For example, even if you spent a fortune to get a degree from a prestigious business school you wouldn't learn these 12 must-have pieces of the puzzle you will learn in just 3 days at Women's Business Empowerment Summit:

1. How to adopt a wealth attitude by moving forward through your fears of getting started.

2. How to have a clear vision of what you want to create and a road map to get you there.

3. How to identify and exploit your own unique abilities to get more done in less time.

4. How to create a product or service to sell that will have people begging to do business with you.

5. How to develop powerful sales and marketing skills to convert prospects into paying clients.

6. How to utilize the unique advantages women possess in marketing your product or service.

7. How to implement the secrets of Internet gurus to make your website your most valuable business asset.

8. How to quickly grow your subscribers list from scratch to tens of thousands for free.

9. How to get the media to help you make more money without spending a dime on advertising.

10. How to position yourself as an industry expert and increase your client base.

11. How to implement the wealth principles multi-millionaires use to build and protect great wealth.

12. How to utilize lessons of successful, powerful women who have experienced firsthand the unique challenges and advantages you have as a woman in business.

That’s why I founded the Women’s Business Empowerment Summit. I wanted all of the information that women need to be successful entrepreneurs to be in one place and easily accessible. I believe if you had all the steps at one time, in a system you could easily follow, you could reach your goals much faster, whether you're totally green or a seasoned entrepreneur who wants to achieve higher levels of success.

How do you begin? From the very first moment you have to decide where you want to end up and you have to visualize the end result and begin to analyze the cost before you proceed. What is your goal? Is it just to have a business? What kind of business will you have? Will you sell something or deliver service? Is it your own invention or someone else's product? Will this be part time or full time? From an office? Storefront? Home? Or door to door?

Before you begin to spend your last dollar you need to visualize, as much you can, the steps you will need to take to get you where you would like to be. Doing this will help you understand what you want and what you don't want and where you really need to spend your money.

Some of the questions that you will ask yourself are; What am I selling? Who is my most likely customer? How will my customer find me? How will I get my product to my customer? Which method of selling will it entail? Post card and direct mail? Stores? Wholesale? Face to face contact? Phone sales? Flyer delivery? Push Cart? What do you feel most comfortable with? What is the part of the business that you most like to do? If you are a chef and you are too shy to talk to your customers and just prefer to work your magic in the kitchen, then you will need to hire someone who a) likes people, b) genuinely likes selling and c) may even have a professional background in selling. At the very least it should be your partner or your friend who has a gift of the gab and is thrilled with your product. Once again determine how much it will cost you, before you begin.

If you write a business plan most of these questions will be answered. This is a good thing to do because it keeps your goals and your plan immediately in front of you, and it show your target spending goals and earning goals. If you find yourself slightly off course or far off course, reflecting back on your business plan can bring you back on track and keep you organized and pushing forward towards your goals. It also helps you to make adjustment if your original idea was bluey!

You should know that most small business owners out of necessity have to wear many hats. They have to manage the books, create the product, talk the talk, create the promotional and marketing material, create new avenues of selling and product distribution, and close the store, or lock up the push-cart at the end of the day.

You also have to do some homework to find out if there is a similar product being marketed and how is that product being marketed and at what cost? They would be your direct competition. But just because they are competition doesn't mean that you can't also succeed with your product or services. The exact opposite is most often true. If there are a few out there selling or marketing similar services, it usually means that yours will also sell. If someone doesn't like one place they can move down the block to the next person or business that is selling the same. If you are in the right place at the right time, and your price is right, that could be you. That is one of the keys to succeed in business.

The other is consistency. If you begin to develop a customer base, they have to be able to find you consistently; and you have to be able to deliver consistently what you promise, and you need to stay in touch with them on a consistent basis.

If you have the push-cart first on Second Ave and then on Tenth and then back on Lemoine, your customer will give up trying to find you to buy the sandwich or tostada from you. Day in and day out you have to be at that designated spot, and you have to be there in the rain, in the snow, in the hot sun and with ample product. If you get your product from some other source, you have to have a reliable distributor, if not you have to find one who is reliable and who takes your account or business as seriously as you do even if you are only placing relatively small orders. If you are consistent at delivering, and keeping in touch with your customers, and consistent at ordering pretty soon you will be placing larger and more frequent orders.