According to statistics, more than 100 thousand people become millionaires each year in United States alone! Overwhelming majority out of them is self-made and owners of business. This means, if you would like to pursue your goal of becoming rich, you have to start your own venture.

Becoming an entrepreneur is not an easy task! There are certain qualities that are absolutely necessary if you would like to become successful in your business ventures. Some of these qualities are built-in parts of your inherent personality, and some of them get developed over time. Knowing these characteristics and identifying your weak ones - those, which need strengthening - will, eventually, help you become a successful entrepreneur.

1. Common Sense

Studies show that most successful businessmen consider common sense as foundation of their success. Common sense is defined as an ability to make sound judgments on issues, which you encounter in everyday situations.

Good judgment depends on acquired knowledge and past experience. The combination of these two creates necessary prerequisites in developing common sense in a person. Common sense allows you to understand complex issues in simpler terms and get into core of a problem.

2. Specialized Knowledge of your field

It is easier to start a successful business, if you have deep knowledge of business field that you decide to pursue. About half of all home-based start-ups are launched by people who decide to use knowledge, which they gained from their previous work experience of a particular niche area.

Philip Green, a billionaire, who made his fortune in garments retailing, claims that corner stone of his success is his knowledge of rag trade. He, presumably, can price a fabric simply by rubbing it between his fingers. Just by looking at a rack of coats he can predict which ones won't sell next season. That's kind of knowledge required in order to become successful in entrepreneurship.

Around 45 percent of all start-ups fail to survive more than two years. One of main reasons is many entrepreneurs do not accumulate needed industry knowledge before jumping into business world.

3. Self-confidence

Self confidence is a key entrepreneurial skill for success. It is easy to become demoralized, frustrated and resentful if you lack self-confidence.

Although, IT spending has been staying flat for last several years, corporate spending in e-business is gaining significant ground and at present surpasses 20 percent of overall IT budget.

This means, more and more businesses are undertaking ecommerce initiatives, and as a result increasing sales, streamlining business processes and dramatically boosting productivity.

Most experts agree that average business, which is slow in adopting e-business applications, risks loosing its competitive edge to their more progressive rivals.

Emarketplaces provide with a great opportunity for small to medium size companies to test online business for a minimal risk. This is due to factor that e-business applications that come along with an emarketplace membership package are prohibitively expensive to develop in-house by most companies, and require large professional workforce to operate. As an example: product content development with required attributes, suitable for e-business, itself might feel like a daunting task for most offline companies.

So, as a company, what should be your first step in starting e-business through emarketplaces?

Naturally, out of hundreds of emarketplaces available today, you have to find one that matches all your requirements. Choosing right kind of emarketplace

In best case scenario, if yours is a large enough company, you should build your private emarketplace with all necessary features specific to your business. The potential of having your own emarketplace is amazing!

- Ecommerce will add value to your existing business transactions - Your present suppliers will be able to post most updated information on their products via e-catalog and their storefront - You can build community from your present buyers and supplier, or invite members on Internet - Real time marketplace will allow you to take quick buying and selling decision - Both buyers and sellers can contact you through Instant Messaging System - Your entire supply chain process can be managed from one place - You can issue real time purchase tenders with either limited access only to your community members or open to public - Sell your stock lots through online auction - Brand you emarketplace and establish your company as a serious online player within your Industry

However, as I mentioned earlier, if you are not a very big company, you will probably be better off with a membership in an established emarketplace.

If you are a manufacturer, wholesaler or a buyer of certain industry specific products or services, your best choice would be a vertical emarketplace that caters specially your industry. For example: if you buy or sell fish, you should look for an emarketplace that deals with this product only. Another thing that you should keep in mind is how geographically limited your business is. If you buy and sell fish within locality of your state or region, if available, get an emarketplace that works in your region.

Totally different story, if you carry large number of products from different industries; for you a horizontal marketplace that cater a range of industries is a better choice. If you are an international trader involved in import or export, you should select a global emarketplace, which has members from countries you deal with. Features that are must

A good emarketplace amasses various features in order to facilitate smooth transactions of business deals. However, there are some key attributes that are absolutely necessary for any emarketplace to become successful; and as a prospective member you should look for these features and characteristics while choosing an emarketplace for yourself.