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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.

Smart Cities, The Future of Sustainable Infrastructure: PRME 2018, IILM

After a highly educational first session on the 2nd Day of the PRME Conference at the IILM campus in Lodhi Road, it was time to dig deeper into the issues plaguing sustainable development, resolution of which could accelerate the achievement of the SDGs. One of the major issues that needed to be addressed before implementing educational reforms was sustainable infrastructure, an aspect often overlooked in the scheme of things. Coordinated by Prof. Anirudh Luthra, the speaker panel of the session on Infrastructure Through The Lens Of Sustainability consisted of stellar personalities bringing in immense knowledge and experience for the eager young audience from top MBA colleges in Delhi.

Grow Smart, Be Smart:

Colonel Prakash Tewari, Executive Director at CSR wing of DLF Foundation, took the stage to shed some light on practices and knowledge needed to grow ethically and responsibly with sustainable infrastructure. He took the enraptured audience through the journey of building a smart city by elaborating on the evolution of Gurugram with DLF, rising from a barren land to a hub of housing offices of major Fortune 500 countries and contributing 3% to India’s total GDP. He also acknowledged that every resolution needs to be well-informed, after considering social, ecological, economic, and political factors that can be impacted by the resolution.

Needed Focus on Resource Longevity:

The second speaker for the session was Mr. Pranshu Gupta from Accenture Strategy India, who led an interactive session with the audience on their perception of Sustainable Infrastructure. He emphasized on the resource longevity as one of the core aspects of sustainable infrastructure that needs more focus. He illustrated his concern with the concept of Day Zero, a condition affecting Cape Town on a large scale. With 60% of India’s population posed to reside in cities by 2030, huge pressure on natural resources is anticipated. Such incidents, he said, would slowly snowball into the much-feared 2 centigrade worldwide temperature rise. Grim realities of global warming were also brought to the forefront, indicating that starting and implementing changes for sustainable development at the earliest was extremely critical. Mr. Gupta then proceeded to identify the challenges and opportunities associated with building smart cities – from ecological to financial as well as legal, along with the execution that plays a big role in determining the success of sustainable infrastructure development.

Benchmark & Performance Metrics much needed:

The final speaker of the session was Mr. Ajay Tyagi, Managing Partner, Lex Terrae who held a conversation with the audience and other speakers about maintaining a uniform standard and accountability for building every smart city unit across the country. He highlighted the importance of indulging in critical analysis of the solution before the actual execution of the tasks. Mr. Tewari elucidated with a real-life example of canal-building in the desert area of Rajasthan that eventually led to much-bigger ecological problems, thereby emphasizing the need for a thorough evaluation considering everything that could be affected by the move.

During the Q&A session that followed, the impact on and contribution to rural areas was brought to the surface where the speakers highlighted the effective and very often ingenious solutions the rural folks had for sustainable infrastructure around them. This affirmed their views that drawing knowledge from the local population can be extremely beneficial in creating solutions that can be applicable everywhere. The extremely enlightening session ended with a thunderous round of applause, all students from top MBA colleges in India invigorated and knowledgeable about the huge potential that came with building sustainable infrastructure to save the future.

Reason to Believe: Why Do PGDM Students Opt for IILM?

Every year, thousands and thousands of young aspiring minds aim to get into a top management college. The prestigious PGDM degree, they believe, will unlock their future and give wings to the dream of entrepreneurship they have harbored for long. At IILM, the philosophy lies in strengthening this belief and shaping future leaders of the world every step of the way. This is why IILM is often on top of the wish-lists of prospective PGDM students.   

So, what makes the PGDM degree at IILM so lucrative? Why do PGDM students opt for IILM to help them carve a niche for themselves as top management professionals in the future? Let’s find out the answer:

A truly international curriculum

IILM has literally brought the world’s best management education to India’s doorstep with course modules that imbibe the best offerings from curricula of globally-known B-schools such as the Stanford Graduate School of Business, Wharton Business School, and IIM-Ahmedabad. At the core of it all lies experiential learning through Field, Career Trek, and Managerial Skills. Across 6 terms, students get to learn from Business Simulation and case studies that help them convert their concepts into real-life management solutions.

top 10 MBA colleges in India, b-school, IILM

A global study experience

What sets apart the PGDM course at IILM, the best management college in Noida for global experiential learning is the month-long international study program in Finland, Germany, Canada, Spain, or France. This exposure serves to provide students with a life-changing learning experience abroad that sensitizes them to diverse cultures, the importance of international relationships, and the development of skills to build them.

Experienced faculty and mentors that make learning fun:

The ground-breaking PGDM curriculum at IILM would be of no use if there weren’t a faculty with vast industrial experience and teaching acumen. The teachers and professors at IILM strive to share the same vision and dream as their students. In the exclusive mentorship programme, every student is allotted a faculty member aligned with the skills and interests of the student. For 25 years, the faculty has churned out more than 9000 business leaders and entrepreneurs through ultimate dedication to every individual’s goals.

Placements, internships, and bucket-loads of opportunities

Ask any PGDM student the need for stellar placement and training opportunities at a management college, and he or she will probably place it on the checklist. IILM thoroughly believes that any management education should be backed by walking the walk. Therefore, great emphasis is placed on providing students with real-life corporate experience via a 3-month summer internship program with global business corporations. The placements at IILM are a serious affair, with students being able to pursue opportunities provided by over 300 renowned companies according to their interests. The Career Development Center and career training courses like Field Immersion Experience for Leadership Development ensure that every student gets the best placement possible!

A campus that is a home away from home

Furnished with world-class classroom, hostel, and other facilities, IILM’s three campuses are a beehive of activity, hope, laughter, and success. They are also easily accessible to the business and corporate hubs around Delhi-NCR.