Medical Blog 3104

Entrepreneurs need to possess certain basic skills like motivation, dedication, and innovation in order to devise business strategies and direct them to realization. However, successful entrepreneurs need more than just the simple of above mentioned assets.

Here is a list of 70 famous entrepreneurs who each became extremely wealthy in their businesses and respective industries:

1. Alvin Ailey - Dance (Alvin Ailey) Dance Theater
2. Mary Kay - Ash Cosmetics (Mary Kay)
3. P.T. Barnum - Entertainment (Barnum & Bailey)
4. Warren Bechtel - Construction
5. Jeff Bezos - Internet (Amazon)
6. Michael Bloomberg - Financial Information
7. Richard Branson - Several (Virgin)
8. Andrew Carnegie - Steel (US Steel)
9. Steve Case - Internet (America Online)
10. Jim Clark - Internet (Netscape)
11. Michael Dell - Computers (Dell Computer)
12. Walt Disney - Entertainment
13. Larry Ellison - Software (Oracle)
14. Debbi Fields - Cookies (Mrs. Fields)
15. Donald and Doris Fisher - Clothing (Gap Inc.)
16. Ernest & Julio Gallo - Wine
17. Bill Gates - Software (Microsoft)
18. A. P. Giannini - Banking (Bank of America)
19. Walt Goodridge - Writer
20. Leo Goodwin - Insurance (GEICO)
21. Barry Gordy - Music (Motown Records)
22. Joyce Hall - Greeting Cards (Hallmark)
23. William Randolph Hearst - Publishing (Hearst Newspapers)
24. Richard A. Henson - Airlines
25. Fernando Hernandez Telecommunications (AT&T)
26. Milton Hershey - Chocolate
27. James J. Hill - Railroads (Great Northern Railway)
28. Wayne Huizenga - Sanitation (Waste Management)
29. Steve Jobs - Computers (Apple)
30. Robert L. Johnson - Broadcasting (BET)
31. John Johnson - Publishing (Ebony)
32. Henry J. Kaiser - Health Care (Kaiser Permanente)
33. Herb Kelleher - Airlines (Southwest)
34. Ray Kroc - Fast Food (McDonalds)
35. Estee Lauder - Cosmetics
36. William Levitt - Housing
37. Henry Luce - Publishing (Time/Life)
38. J. W. Marriott - Hospitality
39. Louis B. Mayer - Entertainment (MGM)
40. William McGowan - Telecommunications (MCI)
41. Scott McNealy - Computers (Sun Microsystems)
42. Judi Sheppard Missett - Fitness (Jazzercise)
43. Gordon Moore - Electronics (Intel)
44. Andrew Morrison - Web Publishing
45. Rupert Murdoch - Media
46. Pierre Omidyar - Internet (Ebay)
47. David Packard - Electronics (Hewlett-Packard)
48. William S. Paley - Broadcasting (CBS)
49. Ross Perot - Data Management (Electronic Data Systems)
50. Jay Pritzker - Hospitality (Hyatt)
51. Ralph Roberts - Cable TV (Comcast)
52. John D. Rockefeller - Oil (Standard Oil)
53. Carlos Santana
54. David Sarnoff Broadcasting (NBC)
55. Howard Schultz - Coffee (Starbucks)
56. Charles Schwab - Discount Brokerage
57. Richard W. Sears - Mail Order (Sears-Roebuck)
58. Russell Simmons - Music (Def Jam Records)
59. Fred Smith - Shipping (Federal Express)
60. Charles C. Spaulding - Insurance
61. Gloria Steinem - Publishing (Ms)
62. Martha Stewart - Multimedia
63. Dave Thomas - Fast Food (Wendys)
64. Donald Trump - Real Estate
65. Ted Turner - Broadcasting (CNN)
66. Madam C. J. Walker - Hair Care
67. Sam Walton - Discount Retail (Wal-Mart)
68. Thomas Watson, Sr. - Computing (IBM)
69. Oprah Winfrey - TV
70. Mal Emery - Australian Mailorder Millionaire

All these people emerged as prosperous entrepreneurs and their success stories are a lesson to learn from. These entrepreneurs did not start their venture with a lot more intelligence or a lot more wealth. Indeed, they all had the talent to move on and were equipped with a vision, dedication, commitment, inspiration and innovation.

But one of the central elements that drove them to success was time management.
An average individual is able to attain mediocre results from some allotted time; however, a wise entrepreneur makes the most use of that time. He/she is gifted with the ability to utilize time perfectly and to obtain results from every single minute spent.

They realize the value of every moment and work hard to make it worthwhile.

Maximize Time and Money
Successful entrepreneurs take certain steps that put them on the path to maximum productivity and profits.

The following are some measures entrepreneurs take to ensure sound business operations:
1. Outsourcing: Outsourcing is the key to getting work done on time with minimal resources. Outsourcing helps entrepreneurs to hire external workers to perform certain tasks; in this fashion, entrepreneurs save time, money and efforts.

All this results in the ability to conduct business operations smoothly and to tackle competition better.

2. Gathering A Team of Business Experts: Entrepreneurs ensure that the team involved in the business is filled with professionals specialized in their respective fields.

A good committed team works hard to meet business objectives and remains committed to the purpose.

Further, expert team members perform their tasks efficiently to maximize business profits and growth. This, in turn, helps entrepreneurs attract investors for its projects.

3. Using Rather Than Fearing Technology: Technology has emerged into every aspect of life. It has helped to make business processes more convenient and swift.

Successful entrepreneurs employ technology to their advantage; they exploit the various benefits it offers by incorporating technological advances in every aspect of the business. This helps to reduce costs in the long run and to improve productivity.

4. Hiring The Right People: A business is only as strong and successful as the people working for it. This implies that a business venture can meet objectives provided that the entrepreneur as well as the team is knowledgeable and experienced in the field.

Without either, success will seem like an illusion.

According to Harvard Business School a staggering 40% of business failure can be laid at the feet of hiring the wrong people!

5. Using a Daily To-Do List: Entrepreneurs realize the value of time and remain organized by setting a to-do list. This helps to divide time appropriately to various tasks and ensures timely completion of daily goals. This is an important requirement to manage time and resources.

Increasingly, entrepreneurs are recognizing the need to manage time; this includes the use of tools and techniques that help to plan and schedule time. This entails the setting of goals and priorities.

An entrepreneur should seriously plan, prioritize, control and manage the functions of his/her business. This will help to improve productivity and to manage challenges proactively.

Paul Wetton is a time management and venture capital specialist who helps Australian business owners prepare their businesses for potential investors with his unique 'Preparation For Investment' Audit. See Paul Wetton's Blog at http://AustralianVentureCapital.com

posted by medical19559  # 2:01 PM