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Five Personality Traits All Entrepreneurs Must Have

Do you want to step away from the rat race of bagging a secure job and dream of becoming an entrepreneur? If yes, then you deserve all the encouragement because it is truly a worthy aspiration. In this, you give shape to a completely original and innovative idea through the sweat of your brow and let it go through the baptism by fire by presenting it to your customers. Do you have what it takes to be an entrepreneur? Here are the five characteristics of a successful entrepreneur. Find out for yourself if you have them.

1. Passion and Motivation:

What is that which you can work on over and over again without getting bored and can continue doing for the rest of your life? What keeps you restless because you haven’t finished it yet? Is there something that you enjoy so much, something that you have built and want to continue improving upon? Building a prototype from the scratch, implementing it and then pitching your idea to venture capitalists, all this requires immense passion and determination.

2. Ability to Take Risks and Manage Finances Strategically:

Entrepreneurs should be willing to take the risk and dive deep into a future of uncertainty. Moreover, a venture takes time to become profitable. Until then, capital is limited and has to be managed wisely. Wise entrepreneurs keep a grip on cash flow even after securing funding or going fully operational. They also put resources in reserve for dealing with unforeseen situations. After all, not every attempt will result in success, but what sets successful entrepreneurs apart is their ability to determine when to cut losses.

3. Self-belief, Hard Work and Disciplined Dedication:

An entrepreneur should have an unfaltering belief in themselves. They should be confident, willing to work hard and dedicated to their project. Apart from that, it helps to acquire the relevant knowledge and skills before beginning a career in entrepreneurship. One can apply for PGDM admission as its curriculum acquaints students with the fundamentals of management, something which may benefit them immensely in the long run when they pursue a career in entrepreneurship.

4. Adaptable and Flexible:

It is also important to be flexible about client or market needs as not doing so will lead to failure sooner or later. An entrepreneur should thus welcome suggestions for optimization which may help in enhancing their product and satisfy the current market needs. What holds the key is the ability to decide when to call it quits and try something new.

5. Product and Market Knowledge:

Entrepreneurs have to know their product and its market inside and out. Not remaining informed about changing market needs, competitors’ moves and other extraneous factors may cause even great products to fail. Entrepreneurs achieve success because they create something that did not exist earlier or because they significantly improve an existing product before it loses its newness.

Do you have these above-mentioned traits to become a successful entrepreneur? If you still do not know, trust your gut. And to gain the knowledge and skills required for being an entrepreneur, go for a PGDM course, that is, a post-graduate diploma in management. Its curriculum gives you the theoretical edge and practical training that empower you to make better decisions as you take baby steps in a long and successful entrepreneurial career.

How To Effectively Leverage Your MBA Alumni Network

The beauty of completing an MBA degree lies not just in the prestige of being a management graduate but also in the connections you make in your time at the institute. The famed alumni network is always positioned as one of the biggest benefits of doing an MBA; connecting with like-minded, ambitious souls from diverse backgrounds can teach you more than a standard classroom experience.

Your peers add value to your life on the personal as well as professional front. From grappling to get an MBA admission in Delhi to graduating with each other, time spent together improves your personality and equips you with skills you didn’t realize you needed. This same of a network of people becomes an invaluable asset later on in life. Leveraging your alumni network is a sure-shot way of building and solidifying relationships that open up opportunities for you. Here’s how you can make the most of your network and extract priceless benefits:

Stay updated on the latest developments:

Do not forget to sign up for the alumni newsletter. Keep in sync with the latest developments about the rest of alumni and their careers, especially those who are stepping out or working in industries and causes that interest you. Be sure to attend any alumni events and connect with former classmates to build new relationships.

Stay connected on social media platforms:

The power of social media cannot be discounted here. Use professional platforms such as LinkedIn to stay in touch with your alumni network. Twitter and Facebook are also platforms you can use to leverage and build your network. Another benefit of these social platforms is the potential to connect with the individual on a more personal level. You can also use these platforms to speak with them about topics or questions you may need assistance with. Best part? Since you are a part of the same Delhi management institute alumni network, they’ll be more than happy to help you out!

Build sturdy bridges:

One of the key reasons why there is so much stress on maintaining relationships is that they sometimes become the bridge to the right person. If you are looking to turn to entrepreneurship, your alumni network can be helpful in connecting you to the right investors or customers. If you’re looking for a job switch or a business prospect, you can rely on your peers to connect you to the right people.

Whether considering a better job opportunity or a potential investment matter, your alumni peers form a goldmine of opportunities that when utilized well, can open doors to unbound success. Connect with the right people and stay in touch to fully realize the power of being an MBA graduate.

Procedure to Get Admission for MBA Degree in IILM

MBA aspirants have a rather overwhelming experience while applying to B-schools. Most colleges have a complicated and exhaustive admission procedure. Unlike them, IILM provides the applicants with every help they require to simplify the application process. The admission procedure is easy and uncomplicated and has been thoroughly explained under the ‘Admissions’ section of the website: https://www.iilm.edu/admissions-process/

For aspirants who still have queries about the process, the following blog comprehensively explains the procedure to admission for MBA degree in IILM. Read on to know everything you need to.

Before we start it is important for the aspirants to know that IILM’s admissions process for PGDM full-time-2 year is approved by AICTE and is also accredited by SAQS (South Asia Quality Improvement System) program for the 2018-20 batches.

The first step in the admission process is to fill in the application form.

Aspirants planning to apply to the IILM PGDM 2018-20 are required to fill out one common application form. The form would have 3 IILM campus options to choose from. Aspirants can indicate their preferred location amongst campuses in Lodhi Road, Gurugram, and Greater Noida.

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The IILM’s application form is available Online and is free of application fee. The aspirant will also need to scan documents like the photograph, passport, and income proof and mark sheets (Class 10, Class 12, graduation and competitive exam score card) and send along with the form. The competitive exams for which scores are accepted are CAT/MAT/XAT/ATMA/CMAT/GMAT.

Additionally, a single window interface has been designed for all admission-related queries for all locations. This makes processing much simpler and centralized for IILM PGDM.

The aspirants must take an appropriate amount to fill in the form. Pay attention to the details and proofread once you are done filling it.

Note – The eligibility criterion requires students to have completed their graduation in any stream (minimum 50%) or appearing in the final year of their graduation from universities and institutions recognized by AICTE/UGC/AIU before they apply.

INTERVIEW:

From these applicants, the aspirants who pass the minimum eligibility criteria for admission at IILM, one of the best colleges for MBA, are shortlisted. These shortlisted candidates are then invited for a one-to-one interaction and interview with the faculty members. Students living abroad are interviewed telephonically or over Skype. The students have to contact us over the telephone, on a number given in the interview mail sent to them.

FINAL SELECTION:

Finally, on the basis of the above-listed stages, the final batch of 120 bright, dynamic and passionate individuals are admitted.

We want to mention that the admission procedure at IILM, one of best MBA institutes in India, is absolutely transparent and merit-based. IILM does not have any management quota or special quota. Each applicant goes through the general application process.