06 Sep '11, 6am

The most important and essential component in entrepreneurship is the mindset, says Merry Riana. #business

"If we don't change, we don't grow. If we don't grow, we aren't really living." - Gail Sheehy I once read a very meaningful book, “Think and Grow Rich” , by Napoleon Hill, from where I learnt that everything starts with an idea. It all begins in the mind, and only when it is conceivable in the mind, can it and will it be realised in the physical world. So, I would like to start sharing my ideas and philosophies of entrepreneurship with you by addressing the most important and essential component first: The mindset. Pareto’s Principle - The 80/20 Rule In 1906, Italian economist Vilfredo Pareto created a mathematical formula to describe the unequal distribution of wealth in his country, observing that 20 per cent of the people owned 80 per cent of the wealth. Now, if I were to ask you a question, “ D o you want to belong to the min ority 20 per cent that own 80 per cent of t...

Full article: http://www.channelnewsasia.com/eyeonbusiness/blog/merryri...

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