As entrepreneurs and businessmen, we’re always looking for small pointers from more experienced people in our field. Sometimes its the little tips and tricks we can transform into habits that we preform daily or while working to bring out the most success in us. Vinod Gupta, successful entrepreneur has a few pointers to help you along the way. His habits to help you become more successful as an entrepreneur are some valuable pieces of information.
Vinod Gupta is the Chairman of Everest Group LLC in Omaha, Nebraska. He was the founder, chairman and chief executive officer of Infogroup, a technology company and started the Vinod Gupta Charitable Foundation.
Vinod Gupta’s biggest pointer is using cost-benefit analysis. This is where you look at a investment opportunity and weight out what the inherit risks and cost to what you will receive from those risks and cost. If its too high its not advisable that you continue with the investment. When it comes to cost-benefit analysis Vinod tends to be conservative. And the size of the investment matters. For example, he says that a smaller sum of money isn’t as much of a concern as a large investment. So, the risks are much greater. For any investors, entrepreneurs or businessmen this advice is invaluable!
A huge tip from Vinod is to use available technology to help spur growth in your business. The sky truly is the limit when it comes to taking advantage of what database technologies have to offer. things like google that use database to record locations of restaurants, hotels, addresses, parks and almost anything else. It’s up to the upcoming entrepreneur to figure out a creative way to use these platforms to expand his business. Vinod goes onto saying how being able to leverage expanding technology’s will help your business grown.
Vinod’s last bit of advice is on failures. He believes that his past failures in business are less a negative thing a more a learning experience. Being able to distinguish between complete loss and a professional set back is huge. Learning to overcome obstacles and be a better businessman is the name of the game!
Learn more about Gupta in his interview on https://ideamensch.com/vinod-gupta/