What makes a millionaire?

The Director’s Centre, which aims to help businesses become more profitable and fun to run, ran a survey called the ‘Magic Million Survey’ to try to get to the bottom of what makes one person able to become a millionaire and another not.

High achievers had a strong sense of self belief and a tendency to take responsibility for themselves and the factors around them. Whereas, those who got stuck in a rut and failed to progress and grow their businesses tended to blame external factors and have self-limiting beliefs.

They identified attributes, traits and characteristics of successful business people and discovered that the biggest difference between achievers and wannabes was the approach to success.

Fear is often the main factor in a lack of success, as people are afraid to risk losing what they have, are afraid of failure or are afraid to relinquish control of any aspects of their business (critical for a truly scalable business).

On the other hand, successful entrepreneurs are usually more self-aware, and know that they are often the bottle neck, holding the business back from even more success.

The successful business owners who took part in the survey all presented the following traits in one combination or another: charismatic leadership, a ‘can do’ attitude, a fast-moving, exciting business environment, motivational rewards systems for staff, a good body of staff… and luck.

You can read the original article here.

For more information about Chelsea Singh as an business investor, visit his website.

Principles for Strategy

To fail to prepare is to prepare to fail.

But having a strategy is no guarantee of success. External factors are always changing and new information becomes available and the environment changes.

So what makes a successful strategy? Below are three principles that underlie a good strategy.

Keep it Simple

A good strategy will have a very simple objective at its core, that can be described in a single sentence and instantly understood, such as Steve Jobs’s ‘1000 songs in your pocket’ for the iPad. By having a clear centre, the strategy will be solidly grounded and anchored to this concept.

Be flexible

It’s a tricky balance to know when to stick to your guns and when to change tactics. But this is one of the most important skills you can have as a strategist, as no plans survive first contact intact. The strategy should have flexibility built into it, with some of the most likely changes in scenario accounted for.

Avoid assumptions

The biggest pitfall of strategies is making incorrect assumptions. When developing a strategy, you should question everything you think you know and make sure you get solid facts. Even better, make sure your strategy relies on as few assumptions as possible – that way it will be as strong as it can be. For more on this, look up ‘Occam’s Razor’.

Contact CS Investments for strategic consultancy service

More Entrepreneurship Quotes

“A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.”

– Winston Churchill, British Politician

“The most valuable thing you can make is a mistake – you can’t learn anything from being perfect.”

– Adam Osborne, American Author

“Whether you think you can or you can’t, you’re right.”

– Henry Ford, American Industrialist

“The only place success comes before work is in the dictionary.”

– Vince Lombardi, NFL Coach

“Success is walking from failure to failure with no loss of enthusiasm.”

– Winston Churchill, British Politician

“If I had eight hours to chop down a tree I would spend six hours sharpening my axe.”

– Abraham Lincoln, 16th President of the United States

“The best reason to start an organization is to make meaning – to create a product or service to make the world a better place.”

– Guy Kawasaki, Entrepreneur, Investor, Author

“Choose a job that you like, and you will never have to work a day in your life.”

– Confucius , Thinker and Philosopher

“Business opportunities are like buses, there’s always another one coming.”

– Richard Branson, British Industrialist

 

“Some people dream of great accomplishments, while others stay awake and do them.”

– Anonymous

“The entrepreneur in us sees opportunities everywhere we look, but many people see only problems everywhere they look. The entrepreneur in us is more concerned with discriminating between opportunities than he or she is with failing to see the opportunities.”

– Michael Gerber, Author and Entrepreneur

“Logic will get you from A to B. Imagination will take you everywhere.”

– Albert Einstein, Theoretical Physicist

“Sow a thought, reap an action; sow an action, reap a habit; sow a habit, reap a character; sow a character, reap a destiny.”

– Chinese Proverb

Click here to read about Chelsea Singh.

Chelsea Singh on Leadership

Leadership is a key factor in business, but there are many different types of leader and ways of leading people. We all need leadership at various times in our lives, and we will turn to different people for guidance in different areas. Sometimes we need to be motivated to get up and go and make important changes in behaviour, and other times we might need a role model for some more personal reflection.

Some leaders are very charismatic and inspirational, and draw people to them like a magnet. People feel stronger when spending time with them and more motivated to make changes in their lives. These types of leaders usually have strong visions, they know exactly where they want to go, and they have no time for naysayers – they’re too busy getting on with it! They can be radical, and will usually have enemies as well, as some people prefer things to always stay the same and fear change, so these people will find them unsettling, and will react negatively.

These types of leaders tend to be politicians and high-profile entrepreneurs.

But there are also modest leaders. Those who shy away from the limelight and keep a low profile. There are plenty of powerful people who have created huge, influential organisations, but of whom you will have heard. These people prefer a slow and steady approach, and they tend to be committed to the success of an organisation of movement, rather than personal achievement.

These people tend to be spiritual leaders, authors and teachers.

Click here to read about Chelsea Singh.

Do you need to have a degree in business studies to become an entrepreneur?

With worldwide University attendance rates at their highest ever (though watch this space to see how the increased fees will affect UK students), it’s commonly believed that you can’t get anywhere in life without that little piece of paper that says you spent four years or more attending lectures, and sitting exams at the end.

 

But research shows that most students remember almost nothing of what they learned at school or university. So is it worth going to university if you want to make it big in business?

The answer is that while university will be very helpful as a character building experience and to make friends that will last a lifetime, there are many examples of people who dropped out of college, had terrible reviews from their teachers and lecturers and turned out to be some of the most successful business people and entrepreneurs of our time – these include Richard Branson and Bill Gates.

So, there’s nothing wrong with qualifications, and getting an education is no bad thing, but a degree in business studies does not a good business person make, and it’s very possible to strike it rich without a university degree.

Click here to visit the Chelsea Singh Investment website.

Industries of the future

Entrepreneurs are constantly thinking about the future and modern society is moving and developing faster than our human ancestors of the past could have ever imagined.

So what are the industries that show the most promise for transforming how the future looks?

Bioengineered renewable fuels

 

Energy is the word on everyone’s lips. We all know that the fossil fuels aren’t going to last forever, and renewable sources such as wind solar and geo-thermal and being developed, but not yet fast enough. There have been some complications to bio-fuel development – notably the impact on the food market, but algae and other bioforms seem like a good alternative if and when they can be developed efficiently in the future.

Medical advances

Spray on artificial skin for burn victims is already a reality – now it just has to pass all the safety regulations and it will change the lives of those with fire and other skin damage. Personalisation is the keyword for the future of medicines, with our personal physical make-ups being closely analysed and noted and medicines and therapies being tailor-made to suit our specific individual requirements.

Robots

Humans have been obsessed with robots for many decades, even centuries, and we’re now bringing the field of robotics into a phase that we can recognise from sci-fi movies and novels. There are bionic arms that can be attached to people who have lost limbs and controlled solely by the mind, and there are humanoid robots that can complete obstacle courses – with serious impact for military strategy.

Click here to read about Chelsea Singh.

Doctor Xpress Launches!

CS Investments is pleased to announce the launch of Chelsea Singh’s latest business: Doctor Xpress, providing medical services to your home, hotel or place of work.

Doctor Xpress is a new concept in medical care, aimed at providing convenience and efficiency that matches the needs of today’s demanding modern society.

When you’re feeling poorly, the last thing you want to be doing is traipsing over to your GP, and it’s probably one of the worst things you could be doing. Not only are you putting yourself at risk of the elements and exertion, but if you’re contagious, you’re putting others at risk as well. And once you get to the surgery, you’re exposing yourself to all kinds of other illnesses – whilst in your weakened state!

Doctor Xpress addresses these problems and offers a unique new service, where medical services and experts are mobile, travelling to where they’re needed most.

Services include flu vaccinations, travel clinics, sexual health consultations and private GPs. All our staff are professionally trained and registered with the General Medical Council.

The service is available 24/7, every day of the year, so emergency medical help can be with you as soon as possible, when you need it most.

Check out our new website to find out more about the service and what it can offer you.