Millions of people dream of becoming financially independent. They no longer want to punch a timecard and work for someone else. They are tired of making someone else rich. They don’t want to be a victim to the “winds of change.” You are one of them. You want to be the master of your life and your destiny. Good for you!

The first step is one you do not want to rush through. Take inventory of yourself. Ask yourself the following questions: What am I good at? What do I truly dislike doing? What are my strengths/weaknesses? What do I believe in? What are the values I will not compromise? What is my “why”? Write down the answers to these questions. All of these questions will help you determine your course of action. This information will also help guide you to the type of business in which you will be most successful. There are many excellent resources on the internet to help you through this step.

The next task is to do a Vision Statement. Vision Statements are very important to your success. Your brain only knows what you put into it. It cannot tell real from false. “The dominating thoughts of your mind will eventually reproduce themselves in outward, physical action and gradually transform themselves into physical reality .” This is done through the principle of autosuggestion. A very good resource on this principle is “Think and Grow Rich” by Napoleon Hill, Chapter IV.

Your vision statement will change and evolve over time but you want to start with a good vision statement. Like the other steps, you do not want to rush through writing your statement. Your first vision statement should be written for five years in the future. Describe, in detail, your relationships, lifestyle, wealth, health, charities and philanthropic activities, the person you have become. Write in the present tense – I love…I am … I give to…, I make…, etc. Your statement should be very specific. An example is “I am chairman of the committee to Make Detroit Beautiful.” You will read your vision statement twice a day – once in the morning when you first wake up and at night before you go to bed. It is to be read aloud. This will be strange to you at first but you will get used to it. Emotionalize your statement. “All thought which have been emotionalized (given feeling) and mixed with faith, begin immediately to translate themselves into their physical equivalent or counterpart.” (Napoleon Hill) Close your eyes. See you future, feel it, smell it, taste it, hold it. It is through this principle of autosuggestion that your vision will work it’s way into reality. Spend 20-30 minutes a day meditating on your vision.

This series of articles is going to provide you with guidance and insight to become a successful entrepreneur. We encourage you to read the information provided, glean from it what you will and do your own research. Everyone is different. We all learn differently and retain information differently. However, there are certain qualities, character traits, values, steps, etc., which are common to all successful entrepreneurs. Laying a strong foundation for success is critical. Creating your Vision Statement is the second step in becoming successful. In our next article, we will talk about goal setting.

Looking to find the best information how to become a successful entrepreneur? Find the best advice on choosing a business for you.

strategy consulting is a vital component for long-term business success. Consultancies can offer professional advice on critical factors that have an effect on business success. Consultants have the ability to address organizational challenges, and they produce strategic plans.

Many senior executives rely on the expert advice of strategic consultants. These executives receive coaching skills training. They may get advice on employee retention and assistance with managing top talent. Consultants may also recommend ways to complete business tasks more effectively.

In a time of recession and uncertainty, companies are increasingly interested in sustainability strategies. What can a business do to earn more profits? How can a business reach new markets? Should an organization acquire another company or not? These and other questions can be answered by a strategic consultancy. They can analyze new opportunities and judge whether they are advantageous.

A business strategy is the component that drives continued growth of an organization. If a company desires to success, it should create a plan that include information such as a competitive analysis, a plan for customer satisfaction, and growth strategies and technology plan. Consultancies help their customers navigate through these critical issues, and assist with development of deployment of a strategic plan.

Environmental issues are increasingly important to businesses. Consumers in every nation are committed to saving the environment. These individuals also expect companies to show their support for a cleaner environment. If a company wants to remain competitive, they must address this critical issue. Implementing green initiatives is not an easy task. It takes time and careful planning. This is another area where a consultancy can be of assistance. Business strategists generally keep abreast of changes and best practices in environmental initiatives. They can help organizations reduce their carbon footprint, and go green.

Many companies, large and small, are now expanding to worldwide markets. With this expansion comes exponential growth, and a need for expert advice. These growing companies can benefit from the expert knowledge of strategic consultants. A consultant can help with outsourcing, foreign business relations, and other related needs.

Advances in technology have opened the door to a variety of new services offered by consulting firms. For instance, some firms offer IT strategy consulting to help information technology leaders address their challenges. New and improved technologies are released every day. A strategic consultant can help IT executives navigate this ever-changing arena, and help them invest in technologies that will support their business goals.

Strategic consulting can offer a business invaluable advice. These consultancies can help a company discover new income streams. They can provide advice on future growth. They can help a company save money and improve operations. Retaining the services of a professional strategic consulting company is a worthwhile endeavor for every business that is serious about success and growth. While hiring a consulting firm may be considered an expensive undertaking for some businesses, the cost may very well outweigh the benefits when you consider potential gains.

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What would you guess is the first position of management when you suggest you should license your patents to competitors, share your under-utilized trade secrets with threatening startups, and investigate the possibilities of collaboration with your cousins in aligned segments?

The most probable response is a quick “surely you are mad” as leaders look at you with that slight unnerving expression you get when you’ve done something which is not quite socially right.

Emerging presently, however, is a movement in the innovation space called Open Innovation, whose core tenet is that you do just that.

The thinking is, if you have unused intellectual property or uniqueness, your best economic interests are served by licensing that to competitors who might make use of it, rather than let it sit idle. And, in reverse, if competitors have something of value you need, that you reach some accommodation with them that lets you make use of it .

Open Innovation is one of the ramifications of the Innovation Economy which is based on the premise that competitive advantage derives from how well you use know-how, not what know-how you have. The understanding of the ability to use know-how well in a particular problem space is a hard to copy advantage that requires investment, development, and in most cases, sustained effort over a long period of time. This is why it is a source of competitive advantage.

Open Innovation is the current de-rigor fashionable business model amongst innovators in many industries. This is especially true in industries where the products aren’t very differentiated like fast moving consumer goods. It is equally true for industries where the products are very differentiated, like aerospace.

On the other hand, companies that have chosen not to pursue Open Innovation are tending to lag competitors. This is because they are forced to rely only on their own R&D efforts, rather than taking what’s best from industry around them. Failing to share is turning out to be a significant competitive dis-advantage.

Open Innovation is a technique that innovators are regularly using to create new value in their businesses. To find out how you can use it it too, read James Gardner’s free, online innovation book.