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The secret of Success in the field of business =) Many businesses fail, yet every once in a while a new business is started that will achieve almost mythical success. Venture capitalist and angel investors are always looking for these emerging businesses or 'gazelles'. It may come as a surprise to learn that the human element - not the ideas - is the primary thing that investors monitor as they look for their next investment company. What do successful entrepreneurs do differently from other business owners? To find out we spoke with Blair Collins. Collins, who built a successful technology company that he sold, has helped angel investors evaluate companies looking for money. --Execution is the key. Most entrepreneurs are goal oriented. A key difference with successful entrepreneurs is that they are adept at filtering through ideas; they have the ability to move forward without becoming distracted by emerging opportunities and markets. Ultimately this helps them deliver a return faster. "What is going to make a difference ultimately is the talent and getting the resources and information that they need so that they can then execute properly," says Collins. "Everyone has ideas, but you have to filter through all of the ideas, you have to filter through all of the noise that comes with them and really sit down and say 'okay, with my resources and my money what are the things that I should execute on that are going to deliver the fastest return and get me towards our end goals the quickest?'". -Focus and determination are a big part of that formula.- Entrepreneurs tend to be intellectual people who tend to get bored quickly. The very characteristic that gives entrepreneurs their drive can also make it difficult for them to get through the mundane aspects of taking their ideas through to completion. At the last mile of building a business boredom always comes in. The entrepreneur knows exactly what needs to be done, but they lose enthusiasm and passion as this stage is not exciting. This is where the successful entrepreneurs outpace their peers, as they have the determination and focus needed to maintain their performance when the work becomes boring.

Contributed by desmondl on April 10, 2008, at 6:43 AM UTC.

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