The help of a consultant may be taken for ensuring regulatory compliances. One of the aspects venture capital funds take into consideration are the extent of legal compliance. Therefore, though, it may lead to short terms savings in taxes by fudging accounts, future growth may be adversely affected by such practices. Ability to look into the future and predict trends as well as set trends are the most important qualities of a successful entrepreneur. In today's highly competitive world, any success is short lived.
Competitors soon catch up with a new product and improve on it.
Therefore, constant striving for improvement and innovation to ensure customer satisfaction is very important. It has been said that only the paranoid survive. With hard work and a little luck, a successful organisation can be created. One cannot really understand entrepreneur unless one takes the plunge. A fortune in black gold.