What’s common in Bill Gates, Sam Walton and Dhirubhai Ambani?

Success statements they are all right! Their immense drive to excel is worth a mention. Strategising with the right business acumen and innovative capabilities make them pioneers in their own right. As technologies break new ground, entrepreneurial talent is proportionally on the rise. The Internet revolution has seen more such budding talent and as the boom continues more join the fray.

If you are thinking of making strides as an entrepreneur, here’s what YOU need to do.

Be what you want to be
You may be slightly nervous before you take the plunge. Starting an enterprise is no easy task, especially when you have VCs and investors to answer to. Before you’ve got the initial investment, rental space, machines and manpower in place you need to have a dream and a vision. This will help you hang in there when the going gets tough.

Charted course
Have these things defined clearly- what you want to do, and what is the course of action you need to take. Have you business goals in place- the nature of the business, the budget, and where you see yourself ten years down the road. Plan every step of the way. It is the most effective way to success. Set your long-term, short-term, and 5 year plans in place.

Customer is king
Accidents can happen, and even the best plans may go ka-put. One thing that never changes is what your customer needs. Be sensitive and ready to tailor your product to his needs. Many entrepreneurs have found success only by being flexible to customer needs.

Think tank
Even if a situation seems impossible, the entrepreneur should be able to spot opportunities. You should be able to guide your team through the ups and downs. For this you need a dare-it-all attitude, which allows you to take calculated risks. A proactive approach is thus characteristic of a successful entrepreneur.

This is the final exhortation before you to take the plunge. Product evolution, start-up risks, fund raising, training have all been discussed in previous. So get those great ideas working and make your mark in the entrepreneurial world!