When it comes to starting a new business venture most of us would do things without proper planning or considering the future assessment. It's always has been the same old story that if this thing happens, I'll then plan according to the situation but there is no proper planning or alternative course of actions lined, and in most cases of such unplanned business something or the other goes wrong.

Terrence Odell Gaskin is known as a successful entrepreneur in consumer electronics platform, his successful venture the project overload shows his capabilities of a successful entrepreneur. Terrence Gaskin has created bench marks for many business standards. In today’s modern technology savvy world, proper business planning and working module plays a very important role.

According to Terrence Gaskin, the solution towards avoiding failure of an entrepreneur level is not just by making proper plans and working module but making plans that will support ones business in the longer run.

A successful entrepreneur is not just an individual who takes responsibility and initiatives and follows the current risk policy, but the one who is fully aware of the business future that where his business would fit in with respect to the current situation of the economy and can also easily adapt to the ever changing market or the economy.

There is a successful entrepreneur inside every individual, who just needs to reveal itself and to move ahead with confidence, keeping n mind the many success stories around, some of us with such motivation manage to take this all important entrepreneurial leap. Since there are no dedicated colleges or schools that teach entrepreneurship, all that a motivating individual has for reference are the many success stories.

As per Terrence Gaskin, there are three all important tips toward being a successful entrepreneur:

1. Being underfunded or not having back up funds- Not having enough investment and back up plans will affect the venture2. Not having a solid and long lasting business plan - Poor business ideas or the lack of a proper planning is one of the biggest mistakes an entrepreneur could ever make. By not having a systematic working module the business will have no way of tracking 3. Not having enough knowledge in the field of chosen business - It is always a good thing to know more than your competitors. To stay ahead of the competition the entrepreneur should be well versed and educated in the business he is launching.