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Top 10 Learning List
Top 10 Learning List
ID: 250499035
1. Execution is worth more to a business than the original idea
Recent business trends show that the success of a business is not just based on novel ideas, but
mostly depends on how superior they get executed. An ordinary idea can be transformed into a
successful business through successful execution and on the other hand, even the greatest idea
An entrepreneur that understands just the technology or the core aspect of his venture, with little
or no business knowledge can hardly survive. In contrast, people with little “product” knowledge
Entrepreneurs need to thing beyond the box, in addition to thinking outside the box. Innovation
is the key to success in this highly competitive world. Automating is barely sufficient and
ready to break traditional rules, swim upstream and navigate the other way.
Entrepreneurs need to be passionate about their businesses and trust on its potential. Having said
that, it is also important to be flexible enough to recycle strategies and change game pland when
Sometimes it‟s too easy to be obsessed with the business idea. In the event of worst case business
failure possibility, entrepreneurs need to be ready to loose the money invested. Always invest the
Entrepreneurs should try and learn continuously from the successes and failures of others.
Arguably, every entrepreneur‟s idea is unique and having said that, he must spend considerable
Entrepreneurs need to know a little bit of every discipline in order to successfully oversee their
businesses. More importantly, they must also ensure additional efforts to alleviate their
weaknesses.
Entrepreneurs must not only strive to become great leaders, but also try to foster leadership
among their subordinates. Each individual has his own leadership capabilities and entrepreneurs,
in order to build a temple of leadership, must indeed bring out the abilities from every
subordinate.
9. Patience Pays
As the famous saying goes, „Entrepreneurship is like raising children - It starts with a moment of
especially during anxious moments, along with balancing quick and spontaneous decisions.
Entrepreneurs in addition to leading and overseeing various business functions like marketing,
finance, accounting, manufacturing, etc from the top, must also have an extended vision
spanning across a variety of social, economic, characteristic, systematic, strategic and behavioral
functions.