business consulting publication has suggested some minimum qualifications entrepreneurs need to posses when they initiate a startup. Their experience must be broad and extensive. They must be willing to take risks. They must have a track record of initiating and actually executing business innovation. The entrepreneurs must possess the ability to negotiate and budget before formulating the corporate strategy.Fruitful relations must be developed across the industry. Thorough business research must be made on success stories of similar startups. The persons responsible must have an awareness that certain competitors will soon attack the organization. In spite of intermittent failure, the persons must be ready to slog it out and stay true to initial vision. Finally when success is achieved, that must be enjoyed and not delayed.

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