Wilson Harrell – “Entrepreneurs are born, not made, but thirst for freedom is the spark that ignites.”

Born in Georgia, 1919, Wilson Harrell, world renowned entrepreneur and marketing guru was a man of strong conviction. In his great business journey, he lived a glamorous life all through. Not all know that Wilson was a fighter pilot in World War II and received purple heart, air medal with four oak leaves and also the President Citation.

It all began with Wilson Harrell & Company started by Wilson himself after the war. The company distributed Kraft products to huge military market and in a short amount of time the company sales reached $200 million. But Wilson had other ideas, he sold the distribution company, then he bought Formula 409, a household cleaning product company for $30,000 and turned it around. He later sold the company for $7 million and bought 60 food and brokerage companies whose total sale exceeded $500 million.

All in all, Wilson started over 100 companies and turned around many of them. He was voted America’s number one columnist for the year 1995 and 1996 by the American society of Business for his monthly contribution to the Success Magazine. Wilson was also the past publisher of INC. magazine. Along with being the founder and chairman of Council of Growing Companies, a nationwide organization, Wilson was also the leader and voice of entrepreneur’s movement in America. His book “For Entrepreneurs Only” was a bestseller and still one of the most admired in this genre.

In his book, he discussed the hunters and farmers of cave man age. He reasoned from science and a variety of studies that genes are passed down and often entrepreneurs are the children of entrepreneurs. At some point thousands of years ago, entrepreneurs were the hunters of our world while the farmers tend to be the employees.

He enjoyed great success in life and died in 1997 at the age of 78 from lung cancer.

“If you want to be an entrepreneur, be sure that your aim is to be free to do something well. To leave a footprint in the sands of time. And be sure you give your employees the freedom to make contributions, to earn rewards – and even make mistakes.”

– Source – “For Entrepreneurs Only” from Wilson Harrell.

As we launch into the new year, here are the top 11 trends that entrepreneurs need to be aware of, think about, and for which we should all prepare:

1. Economy will still Struggle: This is the biggest question on everyone’s mind. If experts in public relations and marketing were coaching me to write this blog to be popular, they would tell me to speak positively about the economic trends for 2011. But I just don’t see it on a macroeconomic level, and I refuse to sugarcoat things for the sake of writing a popular blog post. I know of some entrepreneurs who are thriving and some who are struggling or who have already shut their doors. But most are treading water. And this will be the same news come the end of 2011. I’m saying it, even though you probably wanted to hear something differently.

In his post Yet More Evidence of Hunkering Down Among Small Business, Jeff Cornwall expresses concern that if entrepreneurs aren’t positioning their enterprises to expand, a full economic recovery seems distant at best. But there are plenty of strong niches and unique opportunities that will continue to thrive at the hands of adept entrepreneurs.

2. Working Capital will be King: Yes, the saying usually says that cash is king. But tough economic times have taught many entrepreneurs that their working capital is sacred, primarily because it is the key to immediate and short-term cash. Those who make it more efficient (see Working Capital – Less is Often More) will out-perform their competitors. Those who protect it from being used on capital expenditures, excessive owner compensation, and other outflows not helpful to generating immediate and near-term gross profit, will find the empowerment it brings to succeed regardless of almost any external or economic pressure.

3. Results-Driven Marketing will be one of the biggest Difference-Makers of the Year: What happened to measuring marketing performance? Many entrepreneurs are so infatuated with marketing that they have become soft in measuring the results it generates. Some have justified spending more in marketing as a strategy to overcome the recession, and most of them are out of business now, having bled their working capital dry without a tool to measure if it was actually paying off. Marketing metrics will come back into fashion, and cost per lead and cost per customer acquisition will be numbers that successful businesses drive as low as effectively possible. John Donal Leavy has a lot more to say on this topic here: Outcome-Based Marketing in 2011.

4. Capital Expenditures will be up: Most businesses have held off on necessary capital expenditures in 2010 for two reasons. First, they were concerned they would not get the expanded Section 179 tax deduction for 100% of their purchases, and, second, they were concerned about over-spending in a tough economy. With the Section 179 deduction increase extended through 2011 and a still-shaky economy, most entrepreneurs are deferring that pent-up demand to 2011. Don’t be fooled by it, because capital expenditures will likely drop again in 2012. You can read more about this in an article I wrote for American Express OPEN Forum-Five Finance Trends Every Entrepreneur Needs to Know.

5. Going Green will no longer be a trend-it will be an Expectation: A little ahead of this trend, in my opinion, the folks at Willoughby Design wrote: Going Green is not a Temporary Craze-It’s an Expectation. If you haven’t accepted this fact, your competitors will gain more traction and sustainability than you. Period.

6. Fixed Fee and Flat Rate will win more business: Whatever it is you sell, have a fixed price for it. If your customers feels, in any way, that their cost for your product or services is variable, it will decrease your chances of getting the business. Figure out how to price your products and services and deliver what your customers need. The argument that every customers’ needs are different is becoming obsolete, and so are those who base their entire business model on it. Here is just one example from an attorney who wrote about how Customers Love Flat Fee Billing Based on Defined Deliverables.

7. Mobile, Cloud, and Social Technology will continue to converge: As these three technologies mature, they will continue to converge and become the future of how we think about and use technology. You can read just one of many opinions on this here: Convergence of Mobile, Cloud, and Social.

8. Entrepreneurial Borrowing will move further away from Traditional Sources: It will get harder and less attractive to get traditional loans from banks. Increasing an Entrepreneur’s opportunities to adequately fund his or her business is a topic of heated debate, but few seem to really get it. You can read more about these challenges at altconsulting.org, and you can also expect more innovation in getting entrepreneurs access to the funds they need in 2011.

9. Compliance Enforcement will Increase: The IRS has $300 million more to spend in enforcement programs in 2011, and many state and local tax and other compliance agencies are spending more in enforcement as well. Plan for it, and then you’ll be ready when it comes. It’s becoming more likely that it will.

10. Social Security Temporary Tax Cut is a sign of things to come: One provision of the Tax Relief Act of 2010 left me scratching my head. Everyone knows the social security system is underfunded and will be bankrupt in a few decades unless the program is overhauled. So why did Congress reduce the amount paid into the fund by two percentage points, or up to $2,136 per worker? It just doesn’t make sense, unless the long-term plan is to wipe-out the cap, currently set at $106,800, altogether, to match the same way the medicare tax is currently treated.

11. Hiring will focus on value-add, regardless of position or responsibility: Most studies and surveys say that hiring will be stagnant among entrepreneurial companies in 2011. But those who do hire will focus on the value each new employee and position will bring to the company. They will be Improving Your Business Hiring Practices and only hire when an employee is the only way to advance towards their goals and objectives.

Hopefully these trends and tips will help all of us turn 2011 into a year of prosperity and growth. To see the report card of my 2010 predictions, visit Report Card for Top 10 2010 Trend for Entrepreneurs.

It’s an odd thing, it was just the other day, while listening to NPR that it struck me – after three plus decades of Industry experience -working directly for or around several fascinating entrepreneurs – it was now necessary to convey the observations and experiences to others. Given that I came from a family of entrepreneurs – neither of which ever worked a day in their life for an employer – this Entrepreneur thing has been in the blood, since childhood. This article is not about me, though – it is about four Entrepreneurs met along the way. Each made their mark and made a difference. Each has a different story and set of accomplishments, however it is interesting to see the common thread.

Entrepreneur One – a brilliant and gifted engineer, technologist and visionary – an insightful and powerful individual that built the second largest computer maker on the planet (at the time) – Ken Olsen – Digital Equipment Corporation. This impressive individual practiced what he preached. His creed was to put trust and confidence in people and he proclaimed that in the final analysis, they would do the right thing! Mr. Olsen created a company that was unquestionably a Technology Innovator, Leader and Industry phenom, which at its height was a $13 Billion entity. The company was acquired by Hewlett Packard, primarily for its service capabilities and breadth of worldwide, customer base. Mr. Olsen stepped-down from DEC prior to the acquisition and relinquished the reins to a Financial Executive.

Entrepreneur Two – a literal genius and one that mastered the application of technology to identify and classify life-threatening, arrhythmias (abnormal heart conditions). A natural leader, mentor and coach that put people in a special category, and demonstrated his passion for the business by saying, “What drives me is that we are saving lives and changing the quality of medicine.” Dr. Charles Feldman not only created and built CardioData, a leading supplier of medical diagnostic systems for the Cardiology Market, he also made numerous Industry contributions in the Educational and Medical fields. A driven, relentless and tireless leader, Dr. Feldman or Charlie, as he preferred, always allowed his people to innovate freely, with no penalty, no matter what the outcome was. CardioData was acquired, by a firm that is now a Division of GE Medical.

Entrepreneur Three – one of the most ambitious and compelling individuals, this infectious Leader had the magic touch to draw and enroll others into his vision. His original dream was to be the “Captain of the Ship” and build a technology-based, company from inception to a $100 Million state. After decades of brilliant moves, he fulfilled the vision, which translated into an undisputed, leading technology firm that topped the $360 Million mark. This individual had a unique formula for stimulating commitment from the Team and uncharacteristically believed in “sharing the wealth” with those that made it happen. Jay Bertelli – CEO and Founder – Mercury Computer Systems embodies all the qualities that one expects to read about in a Harvard Business Review. Mr. Bertelli recently retired from Mercury and passed the baton to a new CEO to drive the company to the next growth phase. In the interim, given Jay’s appetite, he continues to advise small-to-medium, sized technology companies on the challenges of “making the ride to ultimate success.”

Entrepreneur Four – without a doubt, one of the most enterprising individuals that I ever worked with. A self-made, Entrepreneur that spawned and managed roughly six companies concurrently. All leaders in their field. And, still had time to make key contributions to Industry Groups and Associations, publish breakthrough books, privately consult to some of the largest retailers and teach merchandising at the Harvard Business School. In spite of Industry sentiment (at the time), he bucked standards by introducing the Open-to-Sell Concept to the Retail Industry that turned merchandising principles on its head. Sidney Stoegel – CEO and serial Founder put his final thumbprint on Merchandata, which became a valued, Strategic Partner and Advisor to major, Retail firms that relied upon his brilliance, ingenuity and broad experience to pave the way. To spend 30 minutes with Sidney talking business was worth more than attending a year’s worth of seminars by the popular speakers on the circuit. Sidney was a giver and comfortably and willingly provided others the benefit of his years of hard-earned, experience.

Without restating the obvious, it is clear after reading the profile on these Entrepreneurs that they are remarkable individuals. Each has a different story and if we dug-in more deeply, we would discover what makes them tick, which is a function of their unique background, history, family influence, experiences, psyche and other factors. One can also pick-out common factors, between them. One recurring theme is their emphasis on the “people quotient” and appetite to give willingly. This article is a tribute to these remarkable Entrepreneurs, not hero worship.

Are Entrepreneurs a reproducible breed? Not sure, however no matter where they come from, what they are made of or what drives them to Success, it is clear that today’s business world offers easier access and entry for these unique individuals than at any other time. Given this tough-as-nails Market Economy that we have endured, it is reassuring that Entrepreneurs will continue creating new businesses, new employment opportunities and a source of wealth that is never-ending.

Copyright 2009

Performance Marketing Group

Edmond M. Hennessy

Although becoming an entrepreneur is not for everyone, it is the most needed element of any economy, whether it’s a recession or things are really thriving. You just can’t have enough visionaries that were bold enough to take the risk to strike out on his or her own because they wanted more control of their lives and they were committed to creating value to the rest of the world. I have 4 reasons why I believe that small business owners are the backbone to the economy.

First of all, they are constantly creating jobs for those that want one. When you’re the boss, you’re not only looking out for the well being of your family but the well being of your employees which is very, very rewarding to say the least. Especially with the state of the economy right now, it’s needed now more than ever.

Secondly, the value that is created for the end user by using their products or services is beyond comprehension. If you were to remove every entrepreneur from your city, the city would collapse overnight. That’s why instead of us giving them a hard time, we need to appreciate what they’re doing from time to time. Yes they’re making a living but attached to that income is a mountain of responsibility that the public doesn’t see.

Thirdly, these local super heroes are creating products and services that has made what used to be a headache more convenient, easier to use, and much improved. for those that hate cutting grass, washing their cars, can’t cook (or don’t like to), or in some cases just lazy, there’s a business in your city that happily does it for you ( for a fee of course) or a product that makes it easier to do.

Fourth, they are actually doing what the free enterprise was designed for in the first place. They decided they wanted more from life, created a vision and proceeded to chase after the American Dream. In spite of the difficulties that come with being the boss at times, it’s rewarding none the less. Also, unlike a job, a business can be passed on from generation to generation.

My hope is that someone that’s already an entrepreneur or is aspiring to be one will recognize that you’re making a difference in the lives of countless people locally and globally and you deserve a round of applause. If possible print this and keep it as a constant reminder of your value to this world.

Networking is the proactive process of developing mutually beneficial professional relationships that increase each person’s circle of associates. Every time you develop a new professional relationship through the networking process, that individual’s network of associates becomes your network and vice-versa. Because of its simplicity and ease of application, networking is one of the most cost-effective forms of marketing for your business.

Effective networking will increase your customer base, communicate your brand and demonstrate your expertise to potential customers. It can also help you identify leads and improve your reputation. Most significantly, successful networking is a relatively simple process that involves five steps:

1. Continually network. Networking is an ongoing process. Since it is about the development of relationships, networking takes place every time you interact with another human being. Therefore, you should always be on the lookout for networking opportunities.

2. Know what you want to gain from the networking process. For example, when you attend networking events, are you clear about what you want to accomplish? Are you trying to get new customers? Perhaps you seek new associates or employees for your business. Whatever the situation, you will have more success if you are clear about what you want to achieve.

3. Set networking goals for yourself. You are more likely to achieve networking success if you set a few goals for yourself. Make sure these goals are specific, measurable and achievable. For example, you might set a goal to “attend at least two networking events each month for the next year.” Another goal might be “to get 3 new clients through social media networking over the next 6 months.”

4. Know what you have to offer to others in your network. Remember, networking is a mutually beneficial relationship that works best if you have something of value to offer such as connections, information or access to valuable resources.

5. Put yourself in a position to network. It is hard to network while you are sitting in your office (except for social media networking). You need to get out and meet people. Here are a few networking opportunities you might want to consider:

• Professional association meetings

• Trade shows and expositions

• Local, regional and national conferences

• Local Chamber of Commerce events

• Educational programs (e.g., school, training classes)

• Volunteer work

• Social organizations (e.g., churches, community organizations)

• Social events

• Organized networking programs (i.e., events that offer structured networking opportunities)

• Social media networking sites such as Facebook and LinkedIn

How Keyword Rich Content is Directly Related to SEO for your Business

Ever wonder what SEO really is but were afraid to ask?

SEO is an acronym for “Search Engine Optimization”. It’s the umbrella term for all the methods you can use to ensure your website is found by various search engine result pages (SERPs).

Google is the most widely used search engine but it’s certainly not the only one. There’s Bing, Yahoo!, AOL and others.

If your website does not appear higher up in their search rankings, then you are missing out on a huge opportunity.

The goal of SEO is to get qualified leads and prospects to discover your business when they are searching for products or services that you offer in the search engines.

SEO isn’t Rocket Science but it can be Complicated

When it comes to SEO, a few important tactics can greatly improve your presence in the increasingly crowded online space.

If you’re attempting search optimization on your own or more wisely hiring an SEO expert, it’s important to be informed with certain SEO fundamentals before proceeding.

Search engines try to provide the most relevant results to a searcher’s query. Whether it’s an answer to a simple question like, “how many ounces are in a gallon?” to more complicated queries such as, “what is the best Chinese restaurant nearest to me?”

After reading this article, you will gain a better understanding of what you need to know before beginning an SEO campaign and what your role is if you decide to outsource this valuable marketing strategy.

Know Your Audience and What Content They’re Looking For

Why Content Marketing Plays a Big Role in SEO

First let’s look at what SEO feeds on. And that is content (text, images, videos etc) found on your website.

Since great SEO relies on how well your content is ranked, as well as factoring in your social media and local engagements, you want to keep fluff content to a minimum and focus on quality.

While it sounds time-consuming, quality content has benefits that reach beyond SEO.

Good content is useful across all marketing mediums and forces you to think through your message from a topic and keyword perspective.

The key is to ensure you are honing in on what actually matters to your audience.

It’s imperative you know who would want to buy your products or services and what they’re searching for in the search engines in order for them to find your website as the solution to their needs.

Your initial instincts may be correct, but you might be missing things that could gain additional website traffic, potential relationship opportunities, or new market segments to your business.

Therefore, proper due diligence is paramount in order to map your target audience to the keywords, topics, and phrases they’re using in and around your industry.

Create SEO-Driven Content

Writing only for search engines usually makes your content boring. Typically that strategy won’t help to convert your visitors into customers.

It’s far better to focus on people first. Make your content as value-driven as possible and then optimize it for search engine bots without sacrificing the quality of your content.

The underlying content is extremely important. Too many people skimp on content but it’s one of the major anchors that tether you to Google’s relevancy algorithms.

The problem we see a lot of entrepreneurs run into is them creating content “they” think is perfect and sounds great to them but SEO wise, can at times be utterly worthless.

Being authentic is important but do so while factoring in the reason why you’re creating the content in the first place with marketing, branding, lead generation and of course SEO in mind.

Thin content with errors, or duplicate content and spun or spam content can really hurt you.

Instead, the content not only has to be lengthy, but it has to be well-written, keyword rich and highly engaging where readers are spending a good amount of time digesting and consuming that content.

Content Creation for SEO Success

As you create content, you’ll want to make sure each page is optimized for:

• Page speed,

• bot crawling,

• responsive friendliness, and

• overall findability.

An Initial investment in a site audit or recommendations for establishing a few initial best practices will save you much time and money in the long run.

Ideas for new content can be gathered from questions your own clients often ask or visit online forums and social media to find questions around your industry, products, and marketplace for more inspiration.

Check the competition with content ideas to ensure you’re on par with your competitors when it comes to covering topics and questions in the industry concerning your company.

Manage Your Keywords Wisely

The key to pleasing both search engines and visitors is to have quality content on our website that includes keywords your target market would be using in the search engines when looking for a solution to a problem your business can solve.

To do this, you want to run your keywords and topics through a tool like Google’s Keyword Planner to make sure the topics and keywords you have chosen have enough search volume and potential traffic to make them worthwhile.

Be sure to take into account the relevance of the search to your audience.

The narrower the topic focus, the lower the traffic typically. This is often offset by the accuracy and interest of the audience.

Do not Spam the keywords!

This also means using different connotations of the same words over and over again within your content.

Google loves NEW content. Keep in mind that websites are liquid so this is where your blog plays a major role in effective SEO.

What Search Engines Are NOT Looking For

Search engine spiders only have a certain amount of data storage. If you’re performing shady tactics or trying to trick them, chances are you’re going to hurt yourself and your business reputation in the long run.

At the end of the day, focusing on quality content that can be easily found by your target audience will benefit all of your marketing and sales efforts. Spend a lot of time on the things above and the rest will fall into place.

We all know that marketing is key in starting and growing a business. One of the first concerns many new entrepreneurs have is on how to get the word out about their business without spending a lot of money.

What I want to mention in this post is 7 Marketing Mistakes that I see people make when marketing their business. I hope you’ll make not of them and try not to be an offender of one of these mistakes listed below.

1. Not asking for professional help soon enough. A lot of time entrepreneurs will wait to ask for help after they have spent time, energy and tons of money on marketing methods that bring in little results. Know when to stop the madness and ask for help from people who can and will help you. This doesn’t mean asking cousin, Benny if he can put out a few fliers for you. This means asking a knowledgeable marketer or business coach on various marketing strategies to use.
2. Believing there is a market large enough to financially support you now and for years to come. You need to be sure that your product or service will be something everyone needs or wants. I know sometimes quirks happen and you may end up with a “pet rock” sensation that makes you millions. But why chase it, so stick with a good rule of thumb. Make sure your targeted market wants or needs your product or service.
3. Don’t copy others! What may have brought success to your competition may not bring you the same type of results. Also, don’t copy other people. I have been to websites or read books where people have plagiarized other people’s work. This is so wrong!!!!
4. Believing people will flood to their website or business just because they hang their shingles up saying they’re open for business.
5. Not having business cards or other marketing materials for networking events.
6. Not attending offline networking events consistently. Attending a networking meeting every once in awhile is poor taste. You need to attend on a regular basis so that other members can get to know you and start sending you referrals.
7. Not having a marketing plan that entails both online and offline methods.

Once you understand the importance of avoiding these 7 mistakes. You can take the necessary steps needed to put together a Results Oriented Marketing Program.

To Your Success,

Sharron Williams Founder of Health and Wellness Entrepreneur

and co-author of Off The Wall Marketing For Health And Wellnesspreneurs.

Running a one-person business is a creative, flexible and challenging way to become your own boss and chart your own future. It is about creating a life, as it is about making a living. It takes courage, determination and foresight to decide to become an entrepreneur. From the relatively safe cocoon of the corporate world, where paychecks arrive regularly, you will be venturing into the unchartered territories of business.

Is there a way to determine whether you can be a successful entrepreneur, or you are better off to work for somebody else? Alas, there is no formula for success. However, most successful entrepreneurs share these ten characteristics. Check if you possess any one of them:

1. Think success. To attain the kind of success that you want, you need to dream big. Every success story starts with big dreams. You need to have big dreams for yourself – which you want to be somebody rich, famous or fulfilled. You need to have a clear vision of what you want to achieve. But it doesn't stop in dreaming alone. You should actively visualize success in your mind that you can almost feel it, touch it or it is within your reach. Play this image back at every opportunity. What does it feel to triple your current income? How will your life change? What will your business look like if you achieved the million-dollar mark?

Successful entrepreneurs possess an attitude of openness and faith that you can have what you want if you can simply envision it as the first step on the path of action to acquiring it. Management gurus have taught us the power of visualization – seeing yourself in your mind as having accomplished your dreams. If you want to be a successful writer, envision yourself signing books for a throng of people who have lined up to have your autograph. If you want to be rich, picture yourself in luxurious surroundings holding a fat bank account. And the process of envisioning success for you should be a constant activity! You need to think that you are successful (or will be one) every single waking hour.

A personal development coach shared me her secret to help her continuously visualize her goals for the moment: when climbing stairs, recite your goal with every step you take. So if you want more money, say "I will have money" in every step of the stairs. This technique will reinforce your goal and keep it fresh in your consciousness.

2. Be passionate with what you do. You start a business to change any or all part of your life. To attain this change, you need to develop or uncover an intense, personal passion to change the way things are and to live life to the fullest. Success comes easily if you love what you do. Why? Because we are more relentless in our pursuit of goals about things that we love. If you hate your job right now, do you think you will ever be successful at it? Not in a million years! You may plod along, even become competent at the tasks, but you will never be a great success at it. You will achieve peak performance and do what you have to do to succeed only if you are doing something that interests you or something that you care about.

Entrepreneurs who succeed do not mind the fact that they are putting in 15 or 18 hours a day to their business because they absolutely love what they do. Success in business is all about patience and hard work, which can only be attained if you are passionate and crazy with your tasks and activities.

3. Focus on your strengths. Let's face it; you cannot be everything to everybody. Each of us has our own strengths and weaknesses. To be effective, you need to identify your strengths and concentrate on it. You will become more successful if you are able to channel your efforts to areas that you do best. In business, for example, if you know you have good marketing instincts, then harness this strength and make full use of it. Seek help or assistance in areas that you may be poor at, such as accounting or bookkeeping. To transform your weakness to strength, consider taking hands-on learning or formal training.

4. Never consider the possibility of failure. Ayn Rand, in her novel The Fountainhead, wrote, "It is not in the nature of man – nor of any living entity, to start out by giving up." As an entrepreneur, you need to fully believe in your goals, and that you can do it. Think that what you are doing will contribute to the betterment of your environment and your personal self. You should have a strong faith in your idea, your capabilities and yourself. You must believe beyond a shadow of a doubt that you have the ability to recognize and fulfill them. The more you can develop faith in your ability to achieve your goals, the more rapidly you can attain it. However, your confidence should be balanced with calculated risks that you need to take to achieve greater rewards. Successful entrepreneurs are those who analyze and minimize risk in the pursuit of profit. As they always say, "no guts, no glory."

5. Plan accordingly. You have a vision, and you have enough faith in yourself to believe that you can achieve your vision. But do you know how to get to your vision? To achieve your vision, you need to have concrete goals that will provide the stepping-stone towards your ultimate vision. Put your goals in writing; not doing so just makes them as intangible fantasies. You need to plan each day in such a way that your every action contributes to the attainment of your vision. Do you foresee yourself as the next Martha Stewart of hand-made home furnishings? Perhaps today, you need to see an artist to help you conceptualize the new line of hand-made linens that you hope to launch. Intense goal orientation is the characteristic of every successful entrepreneur. They have a vision, and they know how to get there. Your ability to set goals and make plans for your accomplishment is the skill required to succeed. Plan, plan and plan – because without which failure is guaranteed.

6. Work hard! Every successful entrepreneur works hard, hard and hard. No one achieves success just by sitting and staring at the wall every single day. Brian Tracy puts it out this way, "You work eight hours per day for survival; everything over eight hours per day is for success." Ask any successful businessperson and they will tell you immediately that they had to work more than 60 hours per week at the start of their businesses. Be prepared to say goodbye to after-office drinks every day, or a regular weekend get-away trip. If you are in a start-up phase, you will have to breathe, eat and drink your business until it can stand on its own. Working hard will be easy if you have a vision, clear goals, and are passionate with what you do.

7. Constantly Look for Ways to Network. In business, you are judged by the company you keep – from your management team, board of directors, and strategic partners. Businesses always need assistance, more so small businesses. Maybe the lady you met in a trade association meeting can help you secure funding, or the gentleman at a conference can provide you with management advise. It is important to form alliances with people who can help you, and whom you can help in return. To succeed in business, you need to possess good networking skills and always be alert to opportunities to expand your contacts.

8. Willingness to Learn. You do not need to be a MBA degree holder or PhD graduate to succeed in your own business. In fact, there are a lot of entrepreneurs who did not even finish secondary education. Studies show that most self-made millionaires have average intelligence. Nonetheless, these people reached their full potentials achieved their financial and personal goals in business because they are willing to learn. To succeed, you must be willing to ask questions, remain curious, interested and open to new knowledge. This willingness to learn becomes more crucial given the rapid changes in technologies and ways of doing business.

9. Persevere and have faith. No one said that the road to success is easy. Despite your good intentions and hard work, sometimes you will fail. Some successful entrepreneurs suffered setbacks and resounding defeats, even bankruptcy, yet managed to quickly stand up to make it big in their fields. Your courage to persist in the face of adversity and ability to bounce back after a temporary disappointment will assure your success. You must learn to pick yourself up and start all over again. Your persistence is the measure of the belief in yourself. Remember, if you persevere, nothing can stop you.

10. Discipline yourself. Thomas Huxley once said, "Do what you should do, when you should do it, whether you like it or not." Self-discipline is the key to success. The strength of will to force yourself to pay the price of success – doing what others don't like to do, going the extra mile, fighting and winning the lonely battle with yourself.

All entrepreneurs dedicate themselves toward setting up, maintaining, and growing their businesses. They venture out, start new businesses, and innovate new products. They spend much of their time and effort on growing their client base and making a difference for their clients. They usually live a hectic, very demanding, and highly stressful lifestyle. Many find it difficult to get a regular daily exercise and stress reduction activity. They often drive themselves hard to improve their services, products, and production. If they lack the manpower support and they are directly hands-on on all aspects of their business, they sometimes end up physically and mentally drained after a few years of operation.

Stress is a common reason for today's diseases such as heart, blood pressure and other organ failures. Stress can be fatal if it is constant and uncorrected. It is important for entrepreneurs to take care of the health of both mind and body by engaging in both outdoor and indoor relaxing activities. Yoga is a perfect match for the lifestyle of the busy entrepreneur. It can be done in a studio, a gym, or at home with a daily practice at any time of day. It can take 10 minutes or an hour depending on the time available. Yoga can be done sitting in your car by doing breathing and meditation exercises.

The physical and mental benefits of yoga are extensively proven by experts. The art of doing yoga we know today originated 5000 years ago in India. The infinite cognitive, physiological, and neurological benefits of yoga have been found and proven effective in regaining energy, balance, and health. Practicing this ancient body art, even just for few short minutes, will enable an individual to regain balance and physical energy. Regular practice of yoga can bring improvement in health, in mind and body, increased energy, well-being, and productivity.

A few minutes of practicing yoga every day is very effective in calming the nerves. Regular daily yoga practice improves the body, mind, and spirit. According to the Mayo Clinic's report for yoga, yoga can help reduce the risk factor of having chronic diseases. The breathing technique and meditation strengthens the muscles, internal organs, lowers blood pressure and relieves, head, neck and back pain.

Yoga improves circulation by bringing oxygen and nutrients to the brain. Thus, yoga improves concentration and decision-making skills. This is very useful for people who think, plan, and strategize for their business. A regular yoga practitioner has much lesser risk of suffering from pain, insomnia, anxiety or depression. They are able to react calmly in difficult situations and become more productive in meeting their objectives.

The National Center for Complementary and Integrative Health of the US Department of Health and Human Services stated, "People who practice yoga do maintain their health and well-being, improve physical fitness, relieve stress, and enhance the quality of life."

In addition, offering yoga classes at work can help companies to reduce health care expenses, relieve workplace stress and promote additional skills for their employees. The whole performance of a company depends on the performance of its important assets- its employees. Studies showed that healthy employees are more productive and more cost- effective.

Yoga, like a growing business, is a continuous process. Businesses don't achieve immediate success and entrepreneurs must learn to be patient. The practice of yoga is the goal of yoga. Yoga teaches entrepreneurs to build their skills for market competitions as well as it builds their inner strength. Entrepreneurs can build a stronger relationship with their colleagues and their prospective customers through yoga.

Yoga creates a better employer-employee work relationship and better customer services which are essential for a growing business. Yoga helps each individual to connect with themselves, and this is most important. For if we are not self-connected and empowered, we cannot connect and empower others to do the same. Yoga is an inside job, and magically your external environment changes for the better.

Yoga also builds a harmonious workplace where everybody is doing his job in a relaxed and efficient way. Yoga exercises are simple and can be used for different skill abilities and this is perfect for the entrepreneurial environment.

Don’t let what others think about entrepreneurs hold you back from greatness,

Misconception is a thought or opinion that is incorrect based on the faulty thinking or understanding of people. Here, we want to clarify some of the misconceptions in entrepreneurship.

They work for money

Entrepreneurship isn’t all about money, it’s about solving problems for people and love what they do. Also, it’s about creating a name for themselves and making a positive impact in the world.

Money is also a way to do bigger and more exciting deals. The motivation of a new idea, and the risks involved have far more power to motivate the entrepreneurial spirit than money. In entrepreneurship, your business and success become an obsession not the money.

They lack courage

I’ve never seen anyone that is as courageous as an entrepreneur.

It takes courage to forego the predictability of a corporate job, It takes courage to take the risk of failure, It takes courage to make your dreams into reality.

And it takes courage, lots of it to hand over the reins when your startup grows beyond your ability to manage it.

That’s why entrepreneurs are rightly the true heroes of our modern world.

They are professionals

Most successful entrepreneurs are not highly qualified fellows, but are success driven. Surprisingly, attending an elite university or higher education doesn’t provide a significant advantage in entrepreneurship. What matters is that the entrepreneur gains a degree; the choice of major or college doesn’t play a big role in success. However, the greater the education of the entrepreneur, the lower the rate of business failure and the higher the business’s profits, sales and employment.

They sometimes have overnight success

It may seem to you that entrepreneurs made the huge amount of money, but do you know that there is a lot of handwork before he made it.

Overnight success is possible; entrepreneurs are inspired to start their own business by witnessing successful and established entrepreneurs. They study the success stories, the beginning of those success stories, which often includes massive struggle prior to the breakthroughs. As a matter of Fact, it takes years to become an overnight success in entrepreneurship!

Many entrepreneurs needlessly worry that they haven’t perfected their ideas. No idea is ever perfect. When you have an idea, go ahead and build a prototype or two, tinker with what works, make refinements as necessary, but by all means get it out there! You can always improve on a good idea. Let the market help you improve.

You don’t have to be a Harvard graduate to be an entrepreneur, but you do need to understand the characteristics of entrepreneurial. See you at the top!