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Thursday 22 November 2012

Quiz: Do You Have What It Takes to Be an Entrepreneur?



Personality Quiz

If you're thinking about starting a business, it's time for some personal assessment. Take this informal quiz to see how your personality compares with the popular profile of today's successful entrepreneurs.

There is an enormous difference between wanting to do something and being able to make a living at doing that something. Have you ever watched the American Idol audition shows and witnessed a tone deaf singer's shocked reaction when the say he or she will never have a shot at becoming a professional singer? The same thing can be true for entrepreneurship.
Being a successful business owner requires investing your own money in addition to a ton of time and effort. Despite the appeal of being your own boss, the reality is that not everyone is cut out to be a successful business owner.
Here are five quick personality assessments to evaluate before taking the entrepreneurial plunge:
Are you Santa or an elf?
Entrepreneurship requires managing a wide variety of tasks as part of the business, from marketing and accounting to training, customer service and more. Can you wear multiple hats, as Santa does with Christmas, or do you prefer to be the elf that loves to execute specific tasks? Do you take initiative or do you want clear instructions? Santas make better entrepreneurs than elves do.
What's your relationship with money?
Starting a business requires money to start, to operate and for you to live on while it scales. If you are a big spender and aren’t great at managing money, those bad habits are likely to follow you into a business. And if you are usually unable to make worthwhile investments in the future of your business for fear of ending up living in a cardboard box if things go wrong then you may end up penny wise and pound foolish, as they say. Having a solid, non-emotional money relationship will help you make wise business decisions.
Are you comfortable flying blind?
The only thing that is certain in business is that nothing is certain. Are you comfortable with being uncomfortable? Can you handle taking educated risks and surviving the constant ups and downs of owning a business? If you are looking for the certainty or a drama-free zone, you may find yourself terrified of the entrepreneurial roller coaster.
Are you ready to commit?
Running a successful business is not just about having great ideas. It’s more about strong execution. So, if you have a hard time staying focused, you are lousy with commitments and you're averse to the idea of working day in and day out on the same thing, then entrepreneurship may just be a passing fancy for you.
Carol Roth is a Chicago-area business strategist, deal maker and author of the New York Times bestselling book, The Entrepreneur Equation. She is a former senior executive with the investment bank Montgomery Securities in San Francisco (now Banc of America Securities) and a graduate of the Wharton School of Business at the University of Pennsylvania.
Were you born for business?
Were you interested in business as a child? Did you seek out entrepreneurial roles in school, in social organizations or even in your previous job? A natural inclination of past interest in entrepreneurship seems to be a good potential indicator of future success.
Think you're cut out to be an entrepreneur? Or are you still unsure? Take this informal quiz to see how your answers compare with the popular profile of today's successful entrepreneurs.


Answer "True" or "False" for each of the following statements as they apply to you. Then hit "submit" and see how you score.
1. Unexpected surprises irritate me.
  • 2. I am uncomfortable when there is drama in my workplace.
  • 3. I am good at adapting to changing circumstances.
  • 4. I've been known to stress-out easily.
  • 5. I get bored very easily.
  • 6. I hate doing the same thing repeatedly.
  • 7. I am comfortable making long-term commitments.
  • 8. I have been known to not keep promises.
  • 9. I am comfortable with taking risks.
  • 10. I expect to maintain the same lifestyle and level of spending after I start my business.
  • 11. I prefer to be given specific instructions rather than an ambiguous assignment.
  • 12. If something isn't working, then I will give up and move on to a new project.
  • 13. I am very frugal with every last dollar.
  • 14. If I don't make a salary for a year or so, I can live comfortably.
  • 15. I prefer to lead in group projects.
  • 16. I started at least one business before I was 18.
  • 17. I am comfortable with overseeing a variety of tasks and people.
  • 18. I have enough money or a source of money to start the business.
  • 19. I have enough money or a source of money to operate and run the business for two years.
  • 20. I am known for taking the ball and running with it -- I love to take initiative.
  • 21. I have enough money or a source of money to live on for two years while the business gets its legs underneath it.


  • References
    http://www.entrepreneur.com/landing/220369

    Unleashing the Power - Tony Robbins

    Tony Robbins has coached U.S. presidents, Fortune 500 CEOs, sports and entertainment superstars—all seeking strategies to reach the next level in their lives and careers. People often call upon Robbins to help remove barriers holding them back and to inspire them to take action. This master motivator is equally adept at keeping a crowd of 10,000 people on its feet for hours. He's also addressed the World Economic Forum, British Parliament and Harvard Business School.
    Robbins' message goes beyond positive thinking; intelligent thinking is what drives him. He understands that when people are feeling overwhelmed, frustrated and fearful, they're rarely capable of brilliant analysis and decision-making.
    "Confidence and competence is not the same thing," Robbins tells SUCCESS, following his return from a recent seminar tour through Australia and India. "No one should go into their garden and chant, "There are no weeds. There are no weeds. There are no weeds." For people to be true leaders, they have to first see things as they are, not worse. Then see it better than it is, and then make it the way you see it.
    "The bottom line is that people have within them a force that is so powerful, there is nothing that can keep them from doing, being, sharing, creating and giving whatever they envision in life," Robbins continues. "My entire life is helping people unleash that power. Nothing drives me more than to see someone or an organization transform and begin to pursue goals with a purpose that inspires them, and gives them a greater sense of meaning—in not only what they do, but who they are."
    Tony Robbins
    Harnessing Emotion to Fuel Change
    As economic uncertainty continues to shake Wall Street and Main Street, many success-minded professionals are being put to the test. Robbins' work is particularly relevant now, when people can call on his tools to keep their heads together and develop what he calls "emotional fitness."
    "If you're psychologically strong enough, you can not only survive, but you can thrive when tough situations occur, as opposed to letting the environment control you and take over," he says. "It's really about mastering strength within yourself so that you can conquer the outer world around you."
    Robbins continues to attract thousands of people to packed arenas all over the world, seeking to take their lives to the next level. The human spirit is what inspires him. Human potential actualized is what drives him.
    But momentum wasn't always on his side. The 48-year-old Robbins vividly remembers the days when he was living in a stark, 400-square-foot apartment in Venice, Calif., and reduced to washing dishes in the bathtub. He was 30 pounds overweight, had a dead-end job, and in relationships that weren't working.
    "I was extremely unhappy and couldn't stand who I was because I knew I had the potential to be so much more," he says. "I think there are many people who can relate to what I was experiencing—the pain of being in a rut and feeling like there's no way out.
    "There are many people who live in what I call 'No-man's Land,' a place where you're not really happy, but you're not unhappy enough to do anything about it," he says. "That's a dangerous place. It's a place where people numb themselves to their dreams. It's where they dismiss hope and accept what's in front of them instead of driving toward what they really want in life. I lived there for a time, but I eventually hit rock bottom, and I'm glad I did because it forced me to take action. My only option for survival was to dig deep—to summon my courage, determination, faith, compassion and commitment to transform my life. I learned so much from that experience because I used those negative feelings to fuel my change. For me, I had no choice. I had to change."
    Breaking Through Limitations
    That change has resulted in big business for Robbins, who serves as chairman of five companies all geared toward his creed of improving the quality of life for people around the world. Robbins Research International Inc., based in San Diego, stages more than 100 events a year, offers professional coaching services and a variety of multimedia programs, including his best-selling The Ultimate Edge and Personal Power CD programs, which have sold more than 35 million units worldwide. He also created the award-winning Namale Resort and Spa in Fiji, where he also spends a few months each year.
    But none of the success he enjoys would ever have happened if he hadn't been able to find a way to break through his own limitations. He had to get clear about what he really wanted and harness the fuel of human emotion to force himself to consistently take action to make his dreams a reality. "I was my first client," he says.
    Robbins has worked directly with more than 3.5 million people from more than 100 countries. And he's as active as ever, often spending more than 15 hours on stage per day for a four-day event. That may sound crazy to some, but for Robbins, it's just another day at the office.
    "I'm obsessed with finding what makes the difference in the quality of people's lives," Robbins says, "I'm always reading, interviewing extraordinary individuals, studying their patterns and experimenting on how to integrate what I've learned to make a difference in peoples' lives. The energy that comes from connecting and helping to make a difference with thousands of people at once, or one-on-one, is the juice of life for me. When you're giving everything you have and those you're working with are throwing it back at you five times as hard, it's absolutely incredible. It's an extraordinary experience, so powerful that I get swept up in those magical moments. Sometimes I come off stage and I think it's 8 at night, and I'm reminded that it's 1 o'clock in the morning."
    His business of helping others help themselves didn't grow overnight. When he started 30 years ago, Robbins was a pioneer in personal and professional development—which is a $10 billion industry today. Along the way, Robbins says he probably failed more times than he succeeded. But he looks at failures simply as results or outcomes that he learns from each time.
    Science of Achievement
    "Unfortunately, we're programmed to fear this thing called 'failure,' so we try everything we can to avoid it, which is pointless," he says. "Failure is often necessary for real learning to occur. But the answer is simple. If you didn't get the results you want, learn from the experience so that you have references about how to make better decisions the next time around. People who fear failure internalize their mistakes, and when they try to go after something in the future, they might think, "Well, I tried to go after a dream before and look what happened." This is what keeps people from taking the very action that could move them to accomplish their goals. Too many people want to avoid any hint of a problem. But overcoming obstacles is what gives us psychological strength—it's the very thing that forms character."
    Over the years, Robbins has noticed patterns in what makes people succeed or fail, what makes them feel happy or sad, and what it is that creates a life of meaning and fulfillment versus a life of frustration and despair. He saw it early on in his own life, and he sees it in the people he spends time with today—whether it's a hungry entrepreneur, a seasoned corporate executive or a mid-level manager.
    "I can tell you, after working with millions of people for more than three decades, success is no accident in any environment," Robbins says. "There are rules of the game that, if followed, will lead to consistent success. There are logical patterns of action, and specific pathways to excellence that I call the science of achievement. But none of that means much without the art of fulfillment. I have seen business moguls achieve their ultimate goals but still live in frustration, worry and fear. What's preventing these successful people from being happy? The answer is they have focused only on achievement and not fulfillment. Extraordinary accomplishment does not guarantee extraordinary joy, happiness, love and a sense of meaning. These two skill sets feed off each other, and makes me believe that success without fulfillment is failure."
    The father of life coaching answers some questions about failure and success, and everything in between.
    Q: How did you go from living in a small apartment, practically broke, to the successful and fulfilled person you are today?
    Anthony Robbins: I took advantage of my intense pain, and I turned it into the fuel for action. When you're living in a 400-square-foot bachelor apartment, cooking on a hotplate above your trash can and washing your dishes in the bathtub, you have to start looking at yourself. On top of that I was 30 pounds overweight, had a job that was going nowhere, and I was in relationships I hated. What changed me? I had a series of experiences with frustration at myself, and moved into unbelievable humiliation. I began to realize that who I was as a man—how I was living mentally, emotionally, physically, spiritually and financially—was far less of a man than who I really was inside. When I hit that threshold of pain, I didn't know at the time what I was doing, but I decided at the very minimum I was going to go on a run.
    You have to understand; I hadn't run or exercised intensely for probably three years. But at the peak of that physical intensity, my nervous system was wired. I had made radical changes in my body. So I grabbed a journal there on the beach, drew a line in the middle of the page, and on one side wrote everything I would no longer stand for in my life, which was virtually everything I was living at the time. And on the other side I wrote everything I was now committed to. But I didn't yet know how I was going to make the change. I knew what I was going to change and why. This is the day that I turned my life around. It unleashed me. I began to search for the answers, but instead of just reading about them, or hearing them, I began to apply them. And I changed everything in my life. I lost 30 pounds in a little more than 30 days. I transformed emotionally, physically, spiritually and financially. Within a year, I had begun to live the dreams that I once thought were impossible. I'd tell anyone that if you're going to change your life, you have to:
    1. Decide what you will no longer stand for and what you'?re committed to. Clarity is power.

    2. Take massive action. You have to be willing to do the things you don't want to do. You have to build a momentum that consistent action produces.

    3. Notice what's working and what's not working. And when it's not working, change your approach. And keep changing until you finally achieve what it is you're committed to.
    Q: You talk about people living an extraordinary life. What is your definition of an extraordinary life?
    AR: I think the answer is different for everyone. Ultimately, an extraordinary life is life on your terms. For some people it might be creating their own business or starting a nonprofit foundation. For others it may be making several million dollars. For someone else it might be the ultimate satisfaction of raising a son or daughter to be an extraordinary soul. It could be creating a garden, writing a poem or just truly enjoying every breath of life. I think the most important thing is for you to defi ne what would be an extraordinary life for you today because it changes as our lives change. We don't want to be living off an old script. Otherwise, you may fi nd yourself with one of those insane moments where you actually achieved your goal and then your brain says, 'Is this all there is' There's no worse feeling in life. Take a moment to update your wish list and ask yourself, 'If my life was truly extraordinary, if it was magnificent, by my own definition, what would my life be like today: physically, emotionally, with my family, in my career, in my level of happiness?' Set the standard for yourself so your brain, body and soul know what you're committed to creating.
    For me personally, an extraordinary life is living what you were made for. For me, that means, first of all, giving and sharing love, and I'm truly blessed to have that kind of love in my relationship with my wife, Sage. But an extraordinary life for me is also finding a way to make a difference for others to grow and love. The driving force in my life is to help make a measurable difference in the quality of life for people everywhere. It is my greatest joy to share the tools and strategies for creating a life of meaning and fulfillment. Nothing stokes me more than to see someone or an organization transform and begin to pursue goals with a purpose that inspires them, and gives them a greater sense of meaning—in not only what they do, but who they are.
    Q: How have you learned from your past setbacks and failures?
    AR: Like most people, I've had as many, if not more failures than successes. But what's been helpful is that I've worked hard to learn from these mistakes so I don't have to repeat them. I realized along the way that if we can learn from our mistakes, we can create shortcuts that can help us to make a measurable difference for other people in their lives. When you recognize a pattern for failure, you can avoid it. And when you recognize a pattern for success, you can take the on-ramp for what you want much more quickly. I call these 'Pathways to Power.' And my life is truly about sharing those strategies, those pathways, those shortcuts that allow us to save ourselves time and pain. Ultimately, what I've learned, though, is that life is not about success or failure; it's about meaning. It's about the interpretation we give to each event in our life—and not the event itself. Meanings are shaped by what we believe and what we value.
    Just remember, two people can have the same circumstances, but they pull different meanings from it, and therefore a different set of emotions, actions, and a different life.
    Q: You are sometimes referred to as a motivational speaker. Is that an accurate description?
    AR: My work has never been about motivation. It's true that when people see news coverage of my seminars they see 10,000 people jumping or celebrating. I just understand that in order to get peak performance, you have to get people in a peak state. What we do is based on the state we're in. And training people's minds and bodies to be at their best is exciting and rewarding.
    But ultimately, who I really am is the 'Why' guy. If somebody says to me, 'I don't need any motivation,' I'll say, 'That's obvious. You're already motivated. What I want to know is: What is your motive for action? I want to know, for example, why you claim that you want to lose weight, yet each day, you seem to be motivated to eat things that cause you to gain weight.' The ultimate question is 'Why?' And when you can answer this question, you can change your life forever. Part of my job is to help people uncover the inner conflicts that hold them back, to find the conflicts in their motivations. When you can uncover these conflicts and shift them, you can change anything in your life.
    Q: It seems there's more uncertainty in the world now than ever. What do you say to people who are uncertain about their future?
    AR: It's true the world has changed dramatically over the last few years, and it's going to continue to change. The pace of change is more rapid than ever. But one thing is constant—there are seasons in everyone's life just as there are seasons in nature. There's a passageway that, if you see it, it will pull you out of the uncertainty and guide you on how to maximize this time in your life. The transformation of the quality of life for early humanity came when seasons were recognized. Until then, man had to wander as a hunter and gatherer, moving from place to place. But once we understood the seasons, we knew when to plant, when to protect, when to reap. And man could have roots. He could have sustainability. He could have certainty for his future.
    These kinds of seasons not only shape our personal lives, but there are seasons in history as well. Every 100 years has roughly four primary seasons in it. If you're a student of history, you know there are economic cycles, and cycles of war. You think things are tough today? If you were born in 1910, what was happening in the world by the time you were 19 years old? It was 1929 and the Great Depression occurred. In the next major cycle in life, around 29 years old, World War II broke out. And yet this generation faced these incredible challenges—this financial, emotional and international winter if you would—and by fighting through it, they built a psychological and emotional muscle that makes us still call them the 'Great Generation.'
    The secret to life is threefold. It's to understand what season of life you're in, to understand what season the world is in, and to figure out how to take advantage of it. I teach everyone in my seminars how to find the season they're in, which is different for everyone, and to take advantage of it. That's the secret to experiencing an extraordinary life.
    Related
    http://www.success.com/articles/465-unleashing-the-power-tony-robbins

    Seven Secrets of Self-Made Multimillionaires

    First, understand that you no longer want to be just a millionaire. You want to become a multimillionaire.
    While you may think a million dollars will give you financial security, it will not. Given the volatility in economies, governments and financial markets around the world, it's no longer safe to assume a million dollars will provide you and your family with true security. In fact, a Fidelity Investments' study of millionaires last year found that 42 percent of them don't feel wealthy and they would need $7.5 million of investable assets to start feeling rich.
    This isn't a how-to on the accumulation of wealth from a lifetime of saving and pinching pennies. This is about generating multimillion-dollar wealth and enjoying it during the creation process. To get started, consider these seven secrets of multimillionaires.
    No. 1: Decide to Be a Multimillionaire -- You first have to decide you want to be a self-made millionaire. I went from nothing—no money, just ideas and a lot of hard work—to create a net worth that probably cannot be destroyed in my lifetime. The first step was making a decision and setting a target. Every day for years, I wrote down this statement: "I am worth over $100,000,000!"
    Related: Seven Rules for Coping with Sales Rejection
    No. 2: Get Rid of Poverty Thinking - There's no shortage of money on planet Earth, only a shortage of people who think correctly about it. To become a millionaire from scratch, you must end the poverty thinking. I know because I had to. I was raised by a single mother who did everything possible to put three boys through school and make ends meets. Many of the lessons she taught me encouraged a sense of scarcity and fear: "Eat all your food; there are people starving," "Don't waste anything," "Money doesn't grow on trees." Real wealth and abundance aren't created from such thinking.
    No. 3: Treat it Like a Duty - Self-made multimillionaires are motivated not just by money, but by a need for the marketplace to validate their contributions. While I have always wanted wealth, I was driven more by my need to contribute consistent with my potential. Multimillionaires don't lower their targets when things get tough. Rather, they raise expectations for themselves because they see the difference they can make with their families, company, community and charities.
    Related Video: Grant Cardone on Closing the Sale
    No. 4: Surround Yourself with Multimillionaires - I have been studying wealthy people since I was 10 years old. I read their stories and see what they went through. These are my mentors and teachers who inspire me. You can't learn how to make money from someone who doesn't have much. Who says, "Money won't make you happy"? People without money. Who says, "All rich people are greedy"? People who aren't rich. Wealthy people don't talk like that. You need to know what people are doing to create wealth and follow their example: What do they read? How do they invest? What drives them? How do they stay motivated and excited?
    No. 5: Work Like a Millionaire - Rich people treat time differently. They buy it, while poor people sell it. The wealthy know time is more valuable than money itself, so they hire people for things they're not good at or aren't a productive use of their time, such as household chores. But don't kid yourself that those who hit it big don't work hard. Financially successful people are consumed by their hunt for success and work to the point that they feel they are winning and not just working.
    Related: How to Conquer Your Sales Fears
    No. 6: Shift Focus from Spending to Investing - The rich don't spend money; they invest. They know the U.S. tax laws favor investing over spending. You buy a house and can't write it off. The rich, in contrast, buy an apartment building that produces cash flow, appreciates and offers write-offs year after year. You buy cars for comfort and style. The rich buy cars for their company that are deductible because they are used to produce revenue.
    No. 7: Create Multiple Flows of Income - The really rich never depend on one flow of income but instead create a number of revenue streams. My first business had been generating a seven-figure income for years when I started investing cash in multifamily real estate. Once my real estate and my consulting business were churning, I went into a third business developing software to help retailers improve the customer experience.
    Lastly, you may be surprised to learn that wealthy people wish you were wealthy, too. It's a mystery to them why others don't get rich. They know they aren't special and that wealth is available to anyone who wants to focus and persist. Rich people want others to be rich for two reasons: first, so you can buy their products and services, and second, because they want to hang out with other rich people. Get rich -- it's Worldwide.


    References

    http://www.entrepreneur.com/article/222718

    From Rags To Riches

     


    Ken Wills
    Ken Wills shares his tips on making it to the top

    Have you've ever wondered what it takes to become a top business mogul? Inside Out follows three self-made South East entrepreneurs and their stories of rags to riches. It could be you...

    Think of top businessmen and household names like Richard Branson, Bernie Ecclestone and Easyjet's Stelios Haji-Ioannou spring to mind.

    But have you ever wondered what special qualities took them to the top of their respective business trees?

    They share several common characteristics with three South East business entrepreneurs who have enjoyed a spectacular rise to riches from humble beginnings.

    Inside Out investigates what it takes to run a business empire, and shares the secrets of three southerners success.

    From rags to riches


    Paul Burfoot
    Paul Burfoot is the new kid on the block, with a penthouse and luxury lifestyle in Maidstone

    The world of business can be incredibly cut-throat, high powered and difficult to break into.

    So where do you start if you have dreams of becoming a successful business man or woman?

    One of the keys to success is having a clear goal and vision.

    You've also got to be incredibly focused and driven to make it in the business world.

    Paul Burford runs a chain of hairdressing salons and a hair products business.

    Keep Your Feet on the Ground


    From working class routes, Paul started working on building sites until he swapped his hod for hair crimpers in his early 20s.

    "When you're young, you're kind of fearless," he says.

    It's the ability to take a risk that has contributed to his impressive business turnover of £3 million per year.

    Paul hasn't forgotten where he came from though. It makes him more grounded and realistic. He believes in "longevity" rather than the "one big cash-in".

    A Business Empire


    Ken Wills started with nothing and has worked his way up to a business empire with a turnover of £20 million.

    Ken Wills
    Ken Wills works and plays hard in his native Kent

    Ken's fortune was not made through a lucky lottery win, nor did he inherit his wealth.

    Ken came from modest beginnings, growing up in a semi in Ashford, the son of an auxiliary nurse and a jobbing builder.

    It was sheer determination and hard work that rocketed Ken Wills from obscurity to a lifestyle complete with a big house by the sea and expensive cars.

    Today he boasts a jet engine maintenance shop, a helicopter firm, a fire prevention company, a restaurant, a jewellery business and a radio station on the Isle of Thanet.

    "If you do what you love, you're going to be better at it," advises Ken to budding entrepreneurs.

    But Ken isn't resting on his laurels. His low boredom threshold means that he's always keen to find new pies to put his fingers into. Success breeds success so it seems.

    Empire Building


    COULD YOU BE THE NEXT BIG NAME IN BUSINESS?
    What does it take to be a top entrepreneur? Here's a few tips from Inside Out:

    Be focused and have a clear vision of what you want to achieve.

    Have a passionate belief in your ability to succeed.

    Hard work, determination and having amazing foresight are vital.
    Don't be content to rest on your laurels.

    See everything as a positive. Make negatives into positives.
    Success can breed success but don't overreach yourself unless you have a sound business plan.

    Be 'hands on' and know your business inside out. But don't be afraid to delegate to someone you trust.

    Be opportunistic - know how to back a winner.

    Know how to network.


    Do your homework and write a Business Plan

    Frank Thornley's game is the pub and club business.

    His company owns thirty businesses with an annual turnover of £20 million.

    Frank's love of the South East led him to invest in his first pub in Broadstairs and an empire was born.

    Today he's one of the best known businessmen in Kent.

    So what's the secret of Frank's success in the business world?

    For a start Frank knows how to back a winner and he's a sharp operator when it comes to business investments.

    He was also in the right place at the right time.

    In his youth the Kentish coast was still frontier country and a fertile ground for enterprising young people looking to make their mark outside London.

    Secrets of Success


    So what do these three successful businessmen have in common, apart from a love of Kent?

    All of them has a classic rags-to-riches story to tell, but the real secret of their climb up the business ladder runs much deeper.

    All of them are dedicated and determined, and they're very grounded by a knowledge of where they came from - their modest Kent roots.

    To be successful you also need to have a good eye for business.

    Setting up a successful new business depends on a combination of factors - self-motivation, a bit of brains, luck, good planning and effective implementation.

    Frank Thorley
    Frank Thorley knows a business winner when he sees one

    Hungry for Profits


    You also need to have absolute self-belief and determination. Ken Wills is the first to admit that you've got to be hungry if you want to get to the top.

    If you want to succeed, you may have to elbow other people out of the way.

    "I've trodden on people on the way up, I've very much regretted it. My want to succeed was initially at the cost of others," says Ken Wills.

    Ken is also a fan of delegation - it enables him to juggle several different business interests at a time.

    "It's not important to delegate - it's essential. Really, my job is to say what needs to be done and how we can best do it. It's a question of applying yourself, making the most of opportunities, and sticking at it," he recommends.

    Kent Rules!


    Last but by no means least, it's no coincidence that all three entrepreneurs have been successful in Kent.

    Their passion for Kent has meant that they've invested their money and time in the area they know and love.

    It's a tale of rags-to-riches that many others will be keen to emulate.

    References

    http://www.bbc.co.uk/insideout/southeast/series4/rags_to_riches_entrepreneurs.shtml

    Wednesday 21 November 2012

    How the self-made millionaires did it

    .
    Do you dream of becoming rich but aren't sure how to make your millions—or better yet, billions? Who better to ask than the rich themselves about how they climbed their way to the top?

    What sparked your fascination with the rich?
    I was a broke college student in 1984 and I wanted to be rich. But I didn't feel like I was getting the information I needed from my college business classes. In a lot of the classes, the business professors seemed to put down the rich, and that didn't make sense to me. So I started looking for outside sources until I found a millionaire to interview.
    Was he difficult to find?
    Yes, because I didn't know any millionaires and I was just a kid. I was probably 19 years old. And I found the rich don't really like to flaunt their wealth. Most of the rich, in my experience, aren't like Donald Trump—they're the polar opposite. They want to be left alone, because as soon as people know they've got a lot of money, people come after them and the media goes after them. They want to be quiet and unexposed.
    The deal they made with me was I wouldn't give their name out unless they gave me permission, and very few of them gave me permission.
    Have you found any commonalities among the people you've interviewed?
    Their personality styles vary: Some are introverts, some are extroverts. But their belief systems around money are the same. That was the one thread that really helped me throughout the process: They all have a really positive relationship with money. They think about money in terms of freedom, as opposed to the negative relationship a lot of people have with money.
    The net worth of the richest Americans grew by 13 percent in the past year to $1.7 trillion. Does that surprise you?
    No, not at all. If you look at the global equity markets over the last few years, they're up 18 percent. As where the average Americans have their money wrapped up in their home equity and low-interest vehicles, like 401(k)s, the rich have their money in the global equity markets. They've got the money to invest, and it's a good place to be right now. They're also in a nice position because they can afford to lose.
    [See 10 Questions That Will Help You Earn More Money.]
    Did self-made millionaires simply work harder than the rest of us to get where they are?
    Most people think the rich got lucky. People think their money wasn't earned by hard work and strategic, calculated thinking, which is not the truth for most people. There are crooks in every income category, but in my experience, there's no more on the rich side than the poor side.
    But it's interesting how the self-made rich are a really hated group. They're discriminated against, even in the wealthiest country of the world. I think it's really sad. I think we should celebrate these people. There's a tendency to demonize them, which I think is just crazy.
    Is there any way that contempt some people have for the rich can change?
    I hope so. It's so easy to take a shot on people who are rich. I hope that over time we can change our beliefs in this country, because if we don't lead the way in changing people's beliefs about capitalism and wealth, I think we're really in trouble.
    Do rich people feel that resentment to the point where they only want to associate with other rich people?
    Absolutely. I call it 'cocooning.' But they don't like to talk about money when they get together. They genuinely like to associate with one another. But many people think it's because the rich think they're better than other people, and it's not—it's because they're discriminated against. I think they just want to be with similar people who won't discriminate against them. They're a minority that people target, which is why they tend to hide out and stick together

    References
    http://money.usnews.com/money/personal-finance/articles/2012/10/12/secrets-of-self-made-millionaires