Your Chances For Success In Business

Here are your chances for success in business, depending on how you think about it. This cool infographic reveals an interesting view on the matter. Positive thinking is supposed to be the most important thing you need. Mental attitude is what makes the difference between success and failure most of the times. Tell you own opinion about it, I will be glad to know it.

chances-of-success_53135f4d7fd57

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Carlos Slim – A Short Story

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Who Is Bill Gates?

Who in this world doesn’t know about Bill Gates? Well, there are few people who do not know about this person. They might be working on Windows everyday but they do not know that he is the man who laid the foundation of today’s PCs. Born and brought up in America, Bill made sure that the modern generation finds a new tool through which they can use personal computers. He is the person who created the largest selling software, Microsoft. Till date he has helped the company grow in a drastic manner, but now he remains as the non-executive Chairman of Microsoft. It is hard to believe that the person who created the company is now only a small member of it (He actually still owns a nice share of it , too🙂 ). This is the greatness of Gates as he has stepped down from the duties and made sure that right people run the business.

Here is a look at a short history of Bill Gates.

Many people do not know that this great man started his career at the age of 13. Well that was initially not a career but he designed a program when he was only 13. He had an interest in computer programming and built a program, which allowed people to play tic-tac-toe on the computers. He and his three other friends were smart enough to bug operating system in school to have some free time with these computers. For this, all four students were banned for few months. Later on, after 2-3 years he designed software for the school to organize students in the classes. He made several changes in it to ensure that he was sitting around girls.🙂 Well, that is what a student would do in that age when he has that much administrative power. But that couldn’t keep him away from the machines.

In an interview later, he stated that it was hard to forget the machines and concentrate on other things which the normal kids would do at his age. When he was just 17 years old he opened a small venture known as Traf-O-Data, with his friend Allen. After completing his school he went to Harvard and designed pancake sorting algorithm which solved a lot of problems in the university. After year or two he dropped out of the university and was more interested in starting his own company. Then he took the biggest step which sowed the seeds of the software we know and use it today. All of this would not have been possible without his vision.

Read more about the story of the great company founded by him – Microsoft here. To read more about Bill you can go here.

If you want to see his personal website, you can go here: www.gatesnotes.com/

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From Simple Data Entry Job To Owning A Multi-million Business

This is one very cool story about a girl, who had big dreams and passion, but didn’t have the money. This is the story of Tracy DiNunzio and how she founded her fashion company – Tradesy. I found this article on one of the greatest sites about business and entrepreneurship – http://www.entrepreneur.com.

The Story Behind Tracy DiNunzio and Tradesy

To understand what it means to bootstrap, consider Tracy DiNunzio. She didn’t have the money to launch a business, but she didn’t let that stop her.

The fashion entrepreneur behind online marketplace Tradesy went from putting her bedroom on short-stay service Airbnb to scavenge startup cash to securing a $1.5 million round of venture capital in a few short years.

In 2009, working from her kitchen table, DiNunzio launched a peer-to-peer ecommerce site where brides buy and sell their used wedding dresses. At the time, she was working data-entry jobs to raise money for the business, called RecycledBride. To come up with more cash, she also sold some of her paintings, clothes and car. “I was the only one living in L.A. without a car. I would take the bus to meetings, in second-hand Chanel jacket. I was very much in fake-it-until-you-make-it mode,” she says.

After watching the traffic to RecycledBride site top 500,000 clicks per month in two years, without paying to drive traffic to the site, DiNunzio knew she was on to something. But she needed money to be able to pay for updates to the site beyond what she could wrangle with her self-taught coding skills.

Desperate for cash, DiNunzio turned to Airbnb. The first person she rented to was a man who contacted her from the airport in Reykjavík from his mobile phone. The man who arrived on her doorstep 17 hours later ended up becoming her husband. They went on to rent out the second bedroom and couch to more than 100 people on Airbnb for $30,000 in startup cash.

“I was doing the hustle, scraping together the money, giving it to the developers as much as possible,” says DiNunzio, who before starting her business had been painting in Mexico. “Revenue was coming in and I would pay it right over to the developers. They would let me pay late. I still owe them a big debt of thanks for that.” Slowly, DiNunzio was able to add features to the site and it became profitable.

DiNunzio expanded the model to include women’s fashion outside of the wedding dress industry in 2011. For a nine percent commission on the selling price, Santa Monica-based Tradesy sends a seller a shipping package, processes the transaction and handles returns.

“I am either a real entrepreneur or I am crazy. I was finally making enough money to live and be OK, but I felt like it wasn’t enough,” says DiNunzio. “I wanted more. I saw how well the model was working in bridal and I knew we could take over the world with the fashion category. I got very serious about making it a company.”

But growth was limited by when and how much money DiNunzio could get her hands on. Her first investor was DailyCandy founder, Dany Levy, a stamp of approval that DiNunzio says was invaluable for her business. The next money to come into Tradesy was a $50,000 investment from the incubator program she participated in, Launchpad LA. With that money, she hired her first full-time employee in January 2012.

Most recently, Tradesy received her first round of venture capital. The $1.5 million investment came from top-tier venture capital firms including Rincon Venture Partners, Dave McClure’s 500 Startups and Double M Partners, among others. In exchange, investors received between 20 and 30 percent of the company’s equity, DiNunzio says, declining to be more specific.

The business has since taken off. It has 22 employees and more than 250,000 items are for sale on Tradesy. In June, DiNunzio expects to launch a mobile application which will allow buyers and sellers to message each other directly on their smartphones.

Bootstrapping requires resourcefulness. Later-stage fundraising is often about making the most out of the opportunities presented to you. Here is DiNunzio’s advice for entrepreneurs looking to raise money later in the game.

1. Get a heavy-hitter mentor on board early. In 2011, when DiNunzio started hunting for money, her wedding dress ecommerce model was already turning a profit. Through a friend of a friend, DiNunzio landed a meeting with Levy. “For me, she was like Madonna. Getting to sit down and meet with her, I wouldn’t be excited to meet Madonna, I was so excited to meet Dany Levy,” says DiNunzio.

Levy says that it was DiNunzio’s intuitive understanding of technology, marketing and business management which impressed her immediately. Also, DiNunzio has an infectious entrepreneurial spirit, Levy says. “She has boundless energy, a remarkable (and rare) roll-your-sleeves-up work ethic, a truly refreshing common sense and a no-BS approach to everything she does,” Levy writes in an email. “Tracy is not just another ‘fashion entrepreneur.’”

When DiNunzio met with Levy, Tradesy already had a profitable business with impressive web traffic and a proven business model. The $25,000 seed investment Levy made in Tradesy wasn’t as valuable as the vote of confidence, says DiNunzio. “That opened so many doors afterwards.” Levy has become, in addition to her first investor, a mentor.

2. Consider “startup bootcamp.” Especially if you don’t come from the startup world, consider joining an accelerator or incubator program. DiNunzio exchanged six percent of her company for funds and mentorship at Launchpad LA. “Having gone through it, even if they didn’t give me the $50,000, but they gave me the mentorship, the connections, the office space, and the other things that came with the program, I still would have done it all over again,” she says. “It was the best thing I could have done for the business.”

In three months at Launchpad, DiNunzio says she met at least 100 investors. Connections DiNunzio made in the incubator lead to her the investors who participated in her first round of venture capital in July 2012.

3. Have numbers to prove your success. In early rounds of fundraising, entrepreneurs who are outside the Silicon Valley typical startup entrepreneur mold may struggle, DiNunzio says. “There is a lot of natural, biological instinct for people to trust someone who looks like them,” she says. “And then there is pattern matching where we look around and we see that the biggest CEOS, so far in tech, are men.” But if you get to the point of having a proven business model with metrics, then you are no longer working against investor anxiety. “At those stages, I do believe it is a meritocracy,” she says. But in the seed stages, you may have to work harder, bootstrap longer and prove the doubters wrong.

Here is the original article: http://www.entrepreneur.com/article/226597 .All legal right belong to http://www.entrepreneur.com

I hope you enjoyed this reading. Look around our blog to find some more amazing stories about starting businesses and entrepreneurs. If you liked this, you may also like: http://largebusinessideas.blogspot.com/2013/05/have-courage-to-follow-your-dream-you.html

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The Special Thing In Self Made Millionaires

Being a millionaire is a dream for many. Here is a cool article, in which you can read about how self made millionaires differ from other, the so called ordinary people. Growing rich by yourself is a tough task and I hope this article is of at least little help in achieving it…

The article is from Entrepreneur.com, here it is:

Self-made billionaires have one business strategy in common: They took enormous risks. There is no careful, cautious path that leads from humble beginnings to Bloomberg’s list of the richest people in the world.

Of the 100 richest people in the world right now, 27 inherited their fortune, according to an infographic generated by the startup organization Funders and Founders based on data from Bloomberg Billionaires Index. Thirty-six were born to humble households, if they have a family at all, and 18 have no college degree.

The Habits of Self-Made Billionaires

Larry Ellison, the founder of software giant Oracle and Amancio Ortega, founder of fashion retailer Zara.
image credit: NDTV Gadgets | Excite

Eight entrepreneur billionaires fall into both categories: They were neither born into money nor have a college education. Consider Larry Ellison, the founder of software giant Oracle. He was an orphan, and recently Ellison had estimated net worth valued at $37 billion. And Amancio Ortega, founder of fashion retailer Zara, was the child of a railroad worker and recently he had estimated net worth of $52 billion.

What can be learned from such extraordinary journeys? As the infographic (below) shows, these eight entrepreneurs have some similar business strategies. Five of this elite group invested during hard times, four bought companies that were all but ruined at the time of purchase, three had one lucky deal that changed the course of their life, seven were early adopters of trends that had yet to be recognized, and for half of these self-made billionaires, their successful venture was not their first business. Three of these self-made billionaires make a point to eat lunch with their employees.

Note: Roman Abramovich, the Russian entrepreneur at the helm of the private-investment company Millhouse was nearly No. 9 on this list, but he earned a correspondence degree in law.

Of these eight underdog billionaires, who do you consider the most inspiring and why? Leave a note below and let us know.

You can also read the stories of some self made millionaires here: http://businessideaslab.com/cat/how-to-make-a-million-dollars/
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Thе History оf George Soros

George Soros wаѕ born іn Hungary іn 1930. At а young age Soros started trading
currencies оn thе Hungarian black market durіng World War 2. Avoiding thе fate оf mаnу
Jewish people аѕ thе grandson оf а Hungarian official hе survived thе Nazi occupation
аnd left Hungary іn 1947 tо live іn England.
While living іn England Soros attended аnd graduated frоm thе London School оf
Economics. Whіlе studying Soros bесаmе interested іn thе work оf а teacher аnd
philosopher Karl Popper, Whісh influenced hіѕ thinking аnd lаtеr hіѕ professional аnd
philanthropic work.
In 1956 hе moved tо thе United States, whеrе hе worked mаіnlу аѕ а financial analyst.
Soros admits hіѕ intentions wеrе mаіnlу tо earn money оn Wall Street tо finance hіѕ
interests іn writing аnd philosophy. In 1969 Soros founded hіѕ fіrѕt offshore hedge fund,
whісh grew immensely partly thrоugh speculation. In thе 1990’s financial analyst’s stated
thаt thіѕ speculation hаd helped weaken Asian аnd Latin American economies.
In 1970 Soros Co­founded thе Quantum Fund wіth Jim Rogers аnd іt achieved mоrе thаn
а 4000% return wіthіn thе nеxt ten years, whісh created mоѕt оf Soros vast fortune. Hіѕ
net worth reached аn estimated $11 billion.
In 1979 Soros began hіѕ philanthropic activities bу providing funding fоr black students
tо attend thе University оf Cape Town іn South Africa. Tо date hе іѕ chairman оf thе
Open Society Institute аnd hаѕ founded mаnу charity organizations thаt аrе active іn
mоrе thаn 50 countries including Central аnd Eastern Europe, thе fоrmеr Soviet Union,
Africa, Latin America, Asia, аnd thе United States. In rесеnt years thе Soros foundations
network hаvе spent mоrе thаn $400 million annually tо support projects іn thеѕе areas. In
1992, Soros founded Central European University, wіth іtѕ primary campus іn Budapest,
Hungary.
In 1988, Soros wаѕ asked tо join а takeover оf а French bank but hе declined thе offer,
іnѕtеаd buying thе bank’s stock. In 2002, а French court ruled thаt Soros committed
insider trading аnd wаѕ fined mоrе thаn $2 million, thе amount hе mаdе frоm thе trades.
In 1992, Soros bесаmе famous whеn hе sold short 10 billion pounds, profiting frоm thе
Bank оf England’s unwillingness tо raise interest rates оr float іtѕ currency. Thе Bank wаѕ
forced tо withdraw thе currency frоm thе European exchange rate mechanism аnd tо
devaluate thе Pound. Soros earned аn estimated US$1.1 billion profit fоr hіѕ efforts аnd
lаtеr bеіng knоwn аѕ “the man whо broke thе Bank оf England.”
In 1997 іn similar conditions аѕ thе Asian financial crisis, Soros wаѕ accused оf bringing
dоwn thе Malaysian currency, thе ringgit. Soros hаѕ bееn а keen author writing 8 books
including Thе Bubble оf America Supremacy: Correcting thе Misuse оf American Power,
George Soros оn Globalization, Thе Alchemy оf Finance, Opening thе Soviet System,
Read more about the famous investor and philanthropist here.
Underwriting Democracy, Soros on: Staying Ahеаd оf thе Curve, Thе Crisis оf Global
Capitalism: Open Society Endangered аnd Open Society: Reforming Global.
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Henry Ford And The Ford Motor Company

For over a hundred years the name Ford has been associated with American automobiles in one way or another. Not only is it a powerhouse manufacturer in today’s market, surviving the struggle and corporate bailouts of recent years, but it began with a company founded on the American dream itself.

Henry Ford first attempted to piece together his company in 1901, establishing the Henry Ford Company. In 1902 it became the Cadillac Motor Company when Ford left, taking the rights to his own name with him. Not to be defeated or swayed, Ford started over again in the following year.

Foundation

Ford Quadricycle photographed at The Henry Ford Museum in Dearborn, Michigan, by Douglas Wilkinson for http://www.ford-archives.com/ http://www.Ford-Archives.com, part of the http://www.Automobile-Archives.com. Copyright 2006 http://www.auto

In 1903, with money borrowed to finance his own company once more, Ford established the Ford Motor Company in a converted warehouse. Only a few cars a day were initialing produced. Years later, when the assembly line was integrated into their operations, the company began to quickly change the way industry was promoted in the country.
The business was successful enough to survive the Great Depression, and has remained in family control for over a hundred years. The feat in and of itself is an accomplishment to admire.

Innovation and Entrepreneurship

Innovation was a proud mark of the Ford Motor Company, such as in 1908 when it introduced a removable cylinder head in their Model T. The Model A featured safety glass in 1930. In 1932, Ford launched the very first affordable V8 car. Options included in order packages in 1956 led to move customizable cars. These and many other innovative business ideas were one of the main factors for the big success of the company in the future.

Due to lower fuel costs, a stable and growing economy, and a high rising stock market the Ford Motor Company was able to become a bigger success during the 1990s. When the economy took a turn for the worse just a few years later profits were largely made through loans and financing.

Henry Ford, 1919

Maturity

In the 21st Century, notably 2005, the company’s bond rating had been lowered to junk status. The company was losing money fast, and Chairman Bill Ford appointed Mark Fields as the key planner in returning the company to success.
Fields’ plan, called The Way Forward, was unveiled in late 2005. The company would be resized, models would be dropped from the production line, and factories would be closed. New cars were developed to take advantage for the demand in better mileage rates.

While Ford has mostly remained in the family, the various family members have not always necessarily been the president or CEO of the company. Bill Ford, who was made President in 2006, stepped down after only five months in the position. He because the Executive Chairman, naming Alan Mulally as his replacement.

With bankruptcy dismissed as an option by Bill Ford, the borrowing limit for the company was raised and further progress was initiated into saving the company. When a break was caught in the negotiations with the United Auto Workers union the company began climbing back from the edge.

When it reported its record loss in 2006 ($12.7 billion), things seemed grim and that the company might close its doors. However, profitability returned in 2009. Before that return to success, Ford sought government help in 2008, however it did not accept the offered conditions. While debt increased and a bigger loss was posted for 2008 ($14.6 billion), 2009 yielded a $2.7 billon profit.

Operations span a global market, keeping Ford in the running as one of the largest and most well-known auto manufacturers in the entire world. Starting small, rebuilding, and then providing innovation has been key to the success of the company, despite financial setbacks.

Perhaps this can all be traced back to the original founder, Henry Ford, when he said, “A business that makes nothing but money is a poor business.”

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