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Elite entrepreneurs that are successful in getting the funding and attract capital do:
1. Articulate your opportunity in 90 seconds or less. Describe your business in simple why it’s simple and why it could be hug.
2. Explain why they are the right person and their team are the best person to get the job done. How are we going to get there, and tell them you know what you are going and where you are going.
3. You have the know the numbers. When people ask you about the business, the market, the product, gross margins, the break even, you need to know what the numbers are.
Critical Attributes in Entrepreneurship
1. Employee’s are valuable assets but they are not your friends. The biggest mistake people make is that running a business is not a social club. It’s understand when people don’t fit their organization and then making the thought decisions and fire them. Family business is the hardest because you might have to fire your mother, or your sister because your trying to keep your business alive to support your family yourself.
2. Maintain a really strong line of command and set goals. Real leaders know how to take heat. Everyday there’s a fire in your business and you’ve got to fix it every single day. You need the ability not to procrastinate, and fix it. Great leaders don’t wait, they get up and just go do it.
3. To be a top performers and get ahead in your business set the top three things done before noon every single day. Then start checking your e-mails and phone calls.
4. Some guy in India, China, Canada, is working 25 hours a day and are ready to kick your ass. They want something that you’ve already achieve and ready to take it from you. That’s the nature of business, it’s global today and you’ve got to be competitive.
5. Make sure the sale person is making more than you, because without sales you don’t have a business. The man of woman that is running your sales should make more than you, never cap them. If you’re the founder you own the stock, you own the company. There making your business more valuable every single day.
6. Wake up in the morning and understand that business is war. You’re out there to make money for your shareholders, make good products and services for your customers, keep your employee’s in a place to spend their life with you. There’s winners and losers in business. You’ve got to decide which one is you.
7. Look for People who know what they are doing, with great executional skills. Entrepreneurship is not a 9-5 a day. It’s working 25 and your competition is working 26 hours.
8. When everything is out of control you’ve got to have the ability to stay focused. Focus, focus, focus and don’t procrastinate. In really challenging situations don’t let all the noise get in the way, don’t listen to anyone’s advice, just stay focused.