Chapter 1: Introduction1.1 Sam WaltonFounder of Wal-Mart Stores Inc.Founded: 1962

"There is only one boss-the customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else."-Sam WaltonSam Walton was born on March 29,1918 in Kingfisher, Oklahoma. He lived with his family on a farm until 1923, when they moved out to Missouri in Shelbina. This is where Sam had become the youngest Eagle Scout in the states history, leading him to receive the Eagle Scout Award from the Boy Scouts of America later on. During high school Sam was very athletic and played both basketball and football. He was Vice President during his junior year of high school and throughout his senior year he became President.

The Makings Of A Business Tycoon:

Sam had grown up during the Great Depression that allowed him to learn the value of a dollar early in life. He had to work many jobs throughout his childhood in order to help his parents out financially. After high school, Sam attended the University of Missouri with a major in economics. After graduating college, Walton worked as a management trainee at JC Penney in Des Moines, Iowa. He quit his job there and worked at a DuPont munitions plant in Oklahoma. He later joined the US Army Intelligence Corps, but left in 1945 where he opened a department store with his wife Helen. Sam had bought different department stores before actually starting Wal-Mart. While owning these stores he made the tough decision to move the checkout counter to the front of the store to make it more convenient for his customers to pay for all of their items at once before leaving.Part P.T. Barnum, part Billy Graham, Sam Walton single-handedly built Wal-Mart into the biggest retailer in the world, transforming the way America shopped and making himself one of the world's richest men in the process. Thanks to his "aw, shucks" demeanor and his strategy of targeting rural areas, retailing giants like Kmart, Sears and Woolworth's never saw the scrappy, pickup-driving country boy coming. And when they did, it was too late to stop him.Walton began what would be a lifelong career in the retail business in 1940, when he took a job as a sales trainee at a J.C. Penney store in Des Moines, Iowa. Walton was enthusiastic about his job, but he was never one of Penney's most thorough employees. He hated to make customers wait while he fussed with paperwork, so his books were a mess. His boss even threatened to fire him, saying he was not cut out for retail work. Walton was saved by his ability as a salesman, and he added about $25 per month in commissions to his beginner's salary.Drafted into the United States Army in 1942, Walton served stateside as a communications officer in the Army Intelligence Corps for the duration of World War II. By the time he was released from the military in 1945, Walton had a wife and child to support, so he decided to strike out on his own. Putting up $5,000 of his own money and $20,000 that he borrowed from his father-in-law, at the age of 27, Walton purchased a Ben Franklin variety store in Newport, Arkansas.Sam Walton grew up during the Great Depression and saw his mom and dad struggle to make ends meet. His dad was a very hard worker who put in long days doing anything he could to keep the family afloat during the Depression. Walton had to help the family out financially at a very young age. He started selling magazine subscriptions at seven years old. He also raised and sold rabbits and pigeons out in the country in Missouri. In addition to that, he helped his mom with her small milk business by milking cows early in the morning. Walton learned at a very young age that it was important for kids to help out around the house and be responsible and contribute to the family rather than just expecting things to be given to them. He grew up during a time where earning money was a huge challenge and in order to earn that money, hard work would be necessary. As a result of this, Walton learned the value of a dollar at a young age. Because Walton had direct experience with these struggles and seeing his mom and dad work so hard, his attitudes were much stronger regarding hard work, ambition, and responsibility. He acquired attitudes regarding these values through modeling by observing his mom and dad and how hard they worked.

When Walton grew up and graduated from college, he had the values of hard work, ambition, and responsibility deeply ingrained in him based off of how he grew up and the example his mom and dad had set for him, which created the foundation for his attitudes and how he felt about these things. He had tremendous respect for the value of a dollar and carried that respect as he started his business. Even as a $50 billion plus company, Wal-Mart still remains a cheap option to get food, clothes, and much more. Walton believes in the value of a dollar and strives to provide value to his customers because he knows what its like to struggle financially. It would go against everything he stood for to have a business that charged high prices purely for the benefit of making lots of money off of his customers. That never was Waltons goal. Walton has admitted to being cheap and this is clearly reflected in the prices Wal-Mart charges at their stores.

Not only was Walton a very hard-worker, but he was also extremely competitive. When he was in Boy Scouts, he made a bet with the other scouts about which one of them could make it to Eagle Scout first. Sure enough, Walton was the first one at the age of 13, the youngest Eagle Scout in the history of Missouri at the time. In high school, Walton was involved in basketball and football where he never lost a game. Because of his incredible athletic career, it created an attitude of never losing for Walton. When his business was facing challenges or fierce competitors, such as Kmart, he knew that he could win. He claims that it never even occurred to him that he might lose. As a result of his athletic career, Walton also learned that team work is essential in achieving goals and being successful. Walton knows that everything that they have done at Wal-Mart has been a result of people working together toward one common goal. He appreciated and valued all of his employees and even gave them stock options because he realized how important team work is in being successful.

Walton learned the values of responsibility, hard work, and ambition at a very young age based on how he grew up and the example his parents set for him. These values led to his attitudes, like how he felt about the value of a dollar and how he felt about working hard and being responsible after seeing and observing his parents when he was young. These attitudes led to his behaviors and actions he exhibited while running Wal-Mart and explain why his store is so cheap, and why he gave stock options to his employees. The values he learned at a young age through sports, examples set by his mom and dad, and experiences were instrumental in shaping him into an extremely successful business leader.

Oprah WinfreyProducer: The Oprah Winfrey Show

Born Orpah Gail Winfrey, Oprah is an American entrepreneur and philanthropist known for her multi award winning show The Oprah Winfrey Show (1986-2011). She is the twentieth centurys richest African American with a net worth of 2.7 billion dollars.This self-made billionaire was born on 29th January 1954 in Kosciusko, Mississippi. Oprah battled a despondent childhood that included poverty, sexual abuse, unwanted pregnancy and the death of the child. At 13 when she finally left home to stay with her father in Nashville who provided her with a secure life and education. Oprah flourished and public speaking and oratory skills were her most prominent skills. After winning the beauty pageant Miss Black Tennessee at 17, Oprah caught the attention of WVOL, a radio station in Nashville, who offered her a job. During this time she won a full scholarship to Tennessee State University where she graduated majoring in Performing Arts and Speech Communications.Oprah landed a job as an anchor at a local TV station. This led to another job in Baltimore where she was co-anchor at WJZ-TV News. Her first talk show People Are Talking became quite popular. Her outgoing and ardent personality started grabbing the publics attention. After devoting seven years to make this show successful, she was offered to host a morning show in the Windy City, Chicago. In no time AM Chicago was one of the most acclaimed TV shows. Renamed in September 1985 as The Oprah Winfrey Show the program started to broadcast on a national level. In the next three years it won several awards including three Daytime Emmy Awards in 1987 and another Emmy the next year. The show targeted various issues such as women empowerment and significance and human rights, which appealed to people of all ethnicities, genders and soon the whole of America was in love with this talented and magnetic personality who ran the show brilliantly.Her passion for producing high standard entertainment programs encouraged her to form her own production company that she called Harpo (which was her name spelled backwards). Harpo Productions Inc. gained the ownership and production rights to the Oprah Winfrey Show from 1998 onwards. The company produced other miniseries including The Women of Brewster Place and movies like There Are No Children Here (1993) and Before Women Had Wings (1997). Oprah made her film debut in the 1985 film The Color Purple. Her movies also include Charlottes Web, Bee movie and The Princess and the Frog.Oprah revolutionized the trash TV format to a more subtle, kinder and truly informative style and by the end of the 90s completely reformed the way television was run. She co-founded a successful cable station called Oxygen and changed the Discovery Health Channel to OWN: Oprah Winfrey Network that launched in January 2011. Oprah has authored five books and publishes a magazine O, The Oprah Magazine. Her website Oprah.com has an average of 70 million views and 6 million users every month. She signed a 55 million dollars contract with XM Satellite Radio to launch a new channel named Oprah Radio.Rightfully called the worlds most powerful woman by Time.com and CNN, Oprah has influenced the lives of millions of people by building a consummate association with them. Her endeavors as a media leader and philanthropist have made her as one of the most admired people of our time.The Makings Of A Business TycoonOn January 29, 1954, the woman that would make a meteoric rise to become not only the richest female in America, but also the first ever African-American billionaire was born.

Oprah Gail Winfreys beginnings were modest. Born on a small farm in Kosciusko, Mississippi to a housemaid mother and a coal-miner father, Oprahs early years was filled with much adversity. Living her first six years with her religious grandmother Haitee Mae Lee, it was here where Oprah first learned to read and write and where she developed her lifelong love of literature. Her grandmother has said that ever since Oprah could talk, she was on stage. She began reciting Bible verses at their local church, displaying the first signs of the future broadcaster that the world would soon know all too well.

When she was six, Oprah would embark on one of the more traumatic phases of her life. After moving to Milwaukee to live with her less supportive mother, Oprah was raped and sexually assaulted by members of her own family. With no system of support, she turned to a life of rebellion and drugs, winding up in numerous juvenile detention centres. After delivering a stillborn baby, Oprah finally escaped the horror by moving in with her father in Nashville, Tennessee at the age of 14.

Imposing strict rules, Oprahs father attempted to regain control of his unruly daughters life by making education a priority. He forced Oprah to submit a weekly book report to him, and the effort would eventually pay off. Oprah became an honours student and received a full scholarship to Tennessee State University, where she majored in Speech Communications and Performing Arts. At atimewhen few African American women even attended high school, Oprahs accomplishment was significant. At the age of 18, she also went on to win the Miss Black Tennessee beauty pageant.

While Oprah had begun her media career working at her high school radio show, it was in her freshman year when she got her first true opportunity to work in local media. She become both the youngest news anchor and the first black female news anchor at Nashvilles WTVF-TV. In 1976, Oprah relocated to Baltimore to co-anchor WJZ-TVs local evening news. Her popularity led to her being recruited as co-host of WJZs local talk show, People are Talking.

Oprahs warm smile was quickly gaining appeal across a wider audience. In 1984, she relocated to her current home of Chicago, Illinois to host WLS-TVs AM Chicago. Following a massive jump in ratings with Oprahs takeover, the show was renamed The Oprah Winfrey Show and extended to a full hour. With her powerful screen presence and friendly demeanor, the show went national just two years later. It became the highest-rated talk show in television history and would retain its leading position for the next twenty years, with an estimated 30 millions viewers in the United States alone, and a larger following in the 109 countries around the world in which it is seen.

Sumit GoyalVice- President- Akash Ganga Couriers

Sumit Goyal was born on 2nd February 1991 in Delhi. His father started this company called Akash Ganga Courier services with a few of his brothers. Sumit has been some hardships in his early life when he had to change his college a couple of times. He finally studied from Pillais College in Panvel finishing his Bachelors in Financial Markets. Sumit was keen on taking up a job in financial markets and didnt want to join his fathers business.

About the company:Akash Ganga Courier (AGC) is one of the pioneer players in the Indian express Industry and it is a well-established Brand. AGC began its journey from the small town of Rajasthan, Loonkaransar in the district of Bikaner. In the last 22 years it has spreads its wings to all part of the country. AGC covers more than 4000 Pin codes through its own network and 1809 franchisees. To gain the foothold in the Competitive market, AGC primarily focussed on the Textile segment. Textile industry requires its products to reach every corner of the country including small towns. AGCs visionary Board found big opportunity in this segment and remained focussed on it. This has helped AGC to spread its network all over the country and emerge as a market leader in the most important textile industry. Today AGC serve to more than 40% textile units in India and has earned the Tag of reliability and integrity.

With changing market scenario and business dynamics, AGC successfully entered in to Banking, finance, insurance, Automobile, education and pharmaceutical industry as well. Now AGC offered products and services on par with any leading courier companies in the country. AGC provide online tracking system to its customer with excellent customer and operation support. We offer the services and products that suits every segment of the industry and our products includes,

1. Akash Ganga Express services2. OLT Regular , Premium & ODA3. AGC Air and Surface Cargo 4. AGC International

AGC has gone one step ahead with the launch of OLT product. Under this they provide their customer premium services with money back guarantee offer. An OLT will serve the ODA location (Out of area delivery) at the same speed and assurance as that of premium. The ODA services have been introduced keeping in views the growth of industries in the rural and interior part of the country.

AGC believe in Integrity first and that is a foundation of our success. Their Board Of Director led by Dr.Subhash Goyal has maintained the Customer First approach and they are proud to be associated with large customer base.

DOMESTIC SERVICES

COURIER MODE Akash Ganga Express Services: Express Services designed to cater services to documents & small parcels (up to 5 kilos) within India.

CARGO MODE

Air Cargo: Air Cargo Services geared to handle the heavier consignments, which need priority deliveries in the domestic front with available flight schedule.

Surface Cargo: Their Surface Cargo Services to optimise their transportation charges, whilst offering the benefit of door delivery to customers consignees across the country.

PREMIUM SERVICES

Under this segment we offer three services to our customers

OLT Regular: This offers their customers guaranteed next business day delivery to direct stations and 48 hour services to the transhipment stations. They provide 100% tracking of OLT shipments.

OLT Premium: This service is offered to select locations with time definite delivery schedule. They also offer money back guarantee to this product in case of non-delivery without any valid reasons.

OLT ODA: This service has been specially designed to serve Out of Delivery Area locations, which most other courier refused. AGC offer these special services with extra charges by sending special messenger from the last point of delivery.

INTERNATIONAL SERVICES

AGC International offers Services through its strategic tie-up networks with TNT, DHL, and FedEx. This offers our customers a wide range of services to choose from. AGC International Services comprise of Document, Parcel and commercial Services, spanning virtually all the countries across the globe.

An interview with Sumit Goyal:

The company started off in 1989. We got incorporated as a Private Limited company in 1991 and became public limited in 2005.The company has 5 city offices as Company Branch Office [Mumbai, Delhi, Surat, Jaipur, Banglore]. These are self-offices having local franchisees under them in the respective cities.For example, Mumbai Regional Office has 3 branch offices viz Andheri, Ghatkopar and Kalbadevi [Marine Lines] and 30 franchisees across the city. Delhi has 2 branch offices viz Karol Bagh and Punjabi Bagh and 75 franchisees. And so on.Rest in over 250 cities across the country we have our franchise offices that are working under the same banner and exclusively for Akash Ganga. We cover over 850 destinations across the country having presence in all metro and 2 tier metro cities. Around 4000 pincodes serviced through these offices.North is the strongest region we have.We deliver over a crore shipments in a year. These 5 offices have a combined annual turnover of Rs. 10 crores. We pay around a crore just in Service Tax to the central government every year. Over 10,000 Blue Collar people earn their bread and butter because of the company. We have a clean record with our creditors and employees for payments terms.

Being a member of regional or local Courier Associations, we help, support, promote and work for betterment of the express industry.I am Managing Committee member of The Bombay Couriers Association. Mumbai Branch has an average sale of 20 lakhs a month. 5000 shipments every day are booked in Mumbai through the 3 branches and 30 franchisees. We deliver around 4000 shipments everyday in Mumbai.Chapter 2- Entrepreneurial Characteristics

2.1 Sam Walton

1. Creative: Sam Walton always knew he wanted to be an entrepreneur. Innovation and creativity can push things forward for an entrepreneur. Sam lets his imagination grow and has built the biggest multi-retail store.

2. Risk taker: He could have been laid back and continued his sales job, but he took the risk to do something on his own when he had a wife and a kid to support.

3. Confident: When everyone was writing him off, he believed in himself and his ideas. He even borrowed some money to start Walmart.

4. Perceptive: Sam was perceptive enough to understand the mindset of the consumers and thus come up with retail outlets to suit these customers. He worked as a sales guy in a retail store and he hated to make the customers wait. This is what brought success to Walmart.

5. Determined: In spite of the criticism he received initially, he did not lose his determination to work towards his goals.

6. Proactive: Instead of waiting around for things to happen, he takes tasks at hand himself and makes sure they work his way.

7. Sense of ownership: The zeal to be your own boss is what Sam had and pushed him to go ahead and start his venture.

2.2 Oprah Winfrey

1. A Goal-Oriented: You become what you believe, says Oprah. You are where you are today in your life based on everything you have believed. Oprahs unwavering belief in her abilities is what drove her to focus all of her lifes energy on reaching her objectives. Focused on a career in broadcasting, Oprah ignored all other diversions until she had achieved her goals. 2. Focused on Growth: Once a successful talk show host, she continued to diversify in areas within broadcasting. Oprahs single-minded focus allowed her to concentrate all of hertimeand energy into achieving the life of her dreams.

3. The Ability to Overcome Diversity: Having experienced much abuse and adversity as a young child, Oprah developed the survival instinct at an early age. She learned the lesson that if you wanted to not only stay alive but also make something of yourself you had to fight. This would well prepare her for the obstacles she would later face in the worlds of broadcasting and business.4. Passionate: Oprah has always been inclined to have her own business, and thus she is very passionate about what she does. She is motivated with her zeal and joy for her own work.

5. Risk taker: No business is risk free. Risk is the cost for profit. Oprah risked by diversifying into many different segments too fast. She was not afraid to venture into the unknown or reinvent herself through various media.

6. Opportunist: I dont believe in coincidences, says Oprah. From hosting a talk show, to acting, to utilizing the Internet to bring her company online, Oprah has listened to her inner voice and grabbed every opportunity she believed was necessary to achieve her goals. 7. Ability to say no: Her success also lies in the opportunities she has turned down, such as thousands of dollars worth of brand endorsements, which might have put her company in jeopardy. Listening to her gut instinct has allowed Oprah to take advantage of numerous opportunities, which otherwise might have gone unnoticed.

8. A Sense of Responsibility to Others: Early on in her career, Oprah asked, How can I be of service? How can I use television as a service? Oprah has since demonstrated that social consciousness can make goodbusinesssense. Her dedication to the causes in which she believes and thepassionwith which she appeals to her audience for support has set her apart from other television personalities. Her desire to give back not only to her own community, but also to communities around the world, has endeared Oprah in the eyes of the public.

9. Courageous: I was called to talk, to use my voice in some way, says Oprah. From the very moment that Oprah discovered her natural flair and passion for broadcasting, she directed all her energy toward feeding that passion. It was her passion for what she was doing that drew people in and made her so appealing to audiences worldwide.

I dont think of myself as a businesswoman, she says, but Oprahs success proves otherwise. While these factors for success may not be unique to Oprah, their combination and the manner in which they were embraced enabled her to reach to new heights.

2.3 Sumit Goyal

1. PassionAs said above, many if not all-great ventures are found out of passion. If you dont have at least a fraction of the passion of the founder, it will be hard to convince your customers, employees, and other stakeholders to stick around.

2. Opportunist: A good entrepreneur always recognises his opportunity and acts on it. SRK saw he had the finance he needed; he saw the opportunity to expand his brand and took the leap with Red Chillies and his VFX special effects studio.

3. Resourceful: He is more resourceful in terms of technology than his father. Strategy execution is almost entirely dependent on the resources to carry on.

4. Knowledge: He says it feels like he has been doing it for years now. He has a lot of knowledge about the industry and the company. He wants it to grow and wants to grow with it.

5. Network: The business founder knew all the customers, the employees, the businesses in the neighborhood. The mayor, the chief of police, and the owner of the restaurant down the street. With a passion for the business he wanted to meet everyone because they never knew where business may come from. Over time it became quite a wonderful network. He wishes to do the same.

6. Good Manager: Management is the art of getting things done through others. In short delegating. He delegates well and understands where his presence can be better matched with that of an expert. Thus the his team is very important to him.

7. Motivated: Perhaps the incoming owner isnt lazy in general but just motivated to work hard on this business. We have all met plenty of second-generation business owners that can play golf and vacation like it is nobodys business. He is very motivated to change the face of the company.

7. Not SelfishSumit celebrates birthdays of all his employees and treats the entire office once a quarter. There is something to be said for charity starting at home. Some second-generation owners take this a bit too far. As the business ebbs and flows their lifestyle never does. They proceed to lead a life of fancy cars, vacation homes, and lifestyles while the employees dont see bonuses or raises. Trust me, people are taking notice. If the founder has passed, they are rolling in their grave because even if they were selfish they knew that success of the company was key to their own selfish desires.

The second generation isnt doomed, but they do have to work harder to find the love and care that was given to the business by the founder.

Chapter 3- Entrepreneurial Decision Making Process

3.1. Sam Walton Big responsibilities for raising family Low paying and dissatisfying job Previous experience in Retail store Best sales person in retail store Not meant for a job

3.2 Oprah Winfrey Network Renowned all over the world Availability of Finance Maturity stage of her own show Peers and friends- around people with business empires

3.3 Sumit Goyal Culture- Marwadi family Available resources Management expertise Always wanted to be his own boss

3.1 Sam WaltonChange from existing lifestyle: Work Environment:Sam Walton chose to go ahead with his Entrepreneurial Aspirations in an industry clearly his own. He worked as a sales guy in a retail store. He saw things he didnt like and he implemented in his own venture. He excelled as a sales guy and was good at networking. He had a graduation in economics and hence he was well versed with the concepts of demand and supply. Disruption: Sam was forced into the army and he didnt like it one bit. He was working as a sales guy and meeting his daily needs. However, he was with a wife and a kid when he returned from the military service. He knew he had to earn a lot more than he did. He invested all of his own money and borrowed some from his father in law.

Desirability of New Venture Formation:

1. Family: Sam was forced into military service. When he was done and was sent back to the US, he had a family to raise. He didnt have enough funds to riase them. He even didnt have a decent job to raise his family. Sam had a fair idea about the retail industry. He got into the industry and never knew he had to work in it for his lifetime.2. Financing: having 5000 dollars, he set our to start his own venture. He borrowed 20000 dollars from his father in law who believed in him. He went on to buy and sell many retail stores before starting out with Walmart.3. Market need: Sam didnt like the fact that customers had to wait for so long for paying. He knew about the gap in the market. He implemented counters at the entry so that people could pay once for all purchases. He therefore, had the idea about the market.4. Ownership: Oprah was extremely succesful and a name known to the world. She wanted to grow but for her own. She wanted ownership and wanted to produce her own shows. She also went on to produce movies and other shows.

3.2 Oprah WinfreyChange from existing lifestyle: Work Environment: Oprah started on a TV show which was later named as The Oprah Winfrey Show. She was already into the entertainment industry. Oprah chose to go ahead with his Entrepreneurial Aspirations in an industry clearly her own. That shes a marketer, can be said without doubt. She understood her own brand value and thus went ahead with the production business, leveraging her talent as the Best Orator. Making the business work was no trouble, with brand Oprah as a backing. Thus, from an actor/host on her own show, she turned to be a Producer too.

Desirability of New Venture Formation:

1. Peers: Oprahs status in the society puts her up with a crowd of similar status. While most of her friends and peers are from the entertainment industry, a lot of them have their own business ventures. 2. Marketing: Oprah the brand sells in itself. With the goodwill that Oprahs name brings to the business, along with her superb oratory skills, theres a lot for any venture to gain from. The kind of network that Oprah has, only adds to the customer base from within the industry.3. Financing: Having had a successful career as an actor/host, Oprah had the ability to self-fund all her ventures. She was the first African American women to be a billionaire. 4. Ownership: Oprah was extremely succesful and a name known to the world. She wanted to grow but for her own. She wanted ownership and wanted to produce her own shows. She also went on to produce movies and other shows.

3.3 Sumit GoyalChange from existing lifestyle: Work Environment: Sumit wanted a career in financial markets. He had also found a job with a broking firm. Sumits dad wanted him to join the company. While he was free for 2 months before his job started, he started helping out his dad in Mumbai office. He saw how the company lacked management skills and use of technology. He wanted to change a lot and had only 2 months at his disposal. Sumit started doing all he could to change things around and his dad liked his work so much that he told sumit to join as an employee and paid him double the salary of what he was getting at his job at the broking firm. Disruption: Sumit was forced into joining his dads company. He joined for 2 months as he had nothing to do but then he was forced into staying with the company. His dad was unable to travel a lot and hence couldnt meet with franchisee members which Sumit claims was one of the reasons for stable profits.

Changes brought by Sumit Goyal in AGC:

1. Technological advancementTechnological change is in large part responsible for many of the secular trends in such basic parameters of the human condition as the size of the world population, life expectancy, education levels, material standards of living, and the nature of work, communication, healthcare, war, and the effects of human activities on the natural environment.Sumit conducted training in Microsoft Office for all his office members. His company across all his franchisee never used any computers. He made investment in buying 2 computers per office and implemented e-billing.

2. Social mediaSocial media has become an integral part of modern society. There are general social networks with user bases larger than the population of most countries. There are niche sites for virtually every special interest out there.Sumit himself started the AGC facebook and linkedin pages. He answered each and every query himself until he hired someone to handle the social media.

3. Regional meetingsSumit conducted regional meetings every quarter end with his franchisee owners. He started this trend in the orgnanisation. Also, this initiative worked fine for them as they discussed implementations of new ideas.

4. Franchisee visitsHe visited franchisees all over india. Recently, he was out on visits for 3 months at a stretch.

CHAPTER 4: Common Characteristics1. PassionIn business, as in life, all you need is love (well, and some financing). Passion and a love for the craft are what keeps entrepreneurs going all day every day, and the above 3 entrepreneurs are no different. Sam Walton and Oprah Winfrey no doubt have won so much success only on their passion. This trait is common in all successful entrepreneurs. 2. Self- drivenAll 3 entrepreneurs are self driven. They made things happen for themselves. The present generation entrepreneurs look them upon. Infact, Sumit Goyal looks upto Sam Walton as his inspiration.

3. NetworkingWell, Sumit Goyal being the new gen entrepreneur has already learned the art of networking and used it well for his benefit. Oprah became what she is today only because of her networking skills. Sam also became close with all the top government executives in the early stage of his career.

4. MotivationThis trait has brought them where they are. Oprah and Sam have struggled more than Sumit, ofcourse. But they have been driven by this strong force that has kept them going. Biblography:http://view.fdu.edu/default.aspx?id=2341http://12most.com/2011/08/19/12most-second-generation-business-owners/https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/186994/ChallengesFacedByFGEsinIndia.pdfhttp://www.incomediary.com/own-it-15-inspiring-business-lessons-from-oprah-winfreyhttp://www.evancarmichael.com/Famous-Entrepreneurs/514/summary.php#authnobloghttp://www.evancarmichael.com/Famous-Entrepreneurs/514/Building-an-Empire-Oprahs-Formative-Years.htmlhttp://www.evancarmichael.com/Famous-Entrepreneurs/514/The-Makings-of-a-Business-Tycoon-Oprahs-Early-Years.htmlhttp://www.leader-values.com/leaders.php?lid=18http://harvardleadership.wordpress.com/2011/01/25/ten-rules-of-success-from-sam-walton/