Requirement 1:

THE RIGHT TEAM

Its important to have a good team. A good mad ads team has to be a carefully chosen mixture of the specimens- A kick ass narator, The Thin dude and the fat bob, The guy who plays the girl, The nervous wreck, The serious, the hilarious and the moderate, The dwarf and giant, etc.. Choosing a team is much like cooking that exotic dish u ate in the star restaurant.

Caution: Too many similar characters or too many extremes are hazardous!!

Requirement 2:

A GOOD SCRIPT

A good script is the basic requirement of a mad ads team. Sit down with ur team and brainstorm to get those whacky ideas outta ur butts or wherever u've them hidden. Ideas need not always be excellent and path breaking. No matter how bad it is, put it across to the team. Many a times, such flop-ideas lead to the best of the jokes. Before finalising ur script, make sure it makes u laugh in the first place.
Golden Rule: Something u can't laugh at, can't make others laugh for a sure!!

Requirement 3:

HUNGER FOR FUN N NOT MONEY

The important thing to keep in mind is that ur on stage to have fun and not for the lucrative prize money at stake. Go on stage and enjoy what u re doing. If u end up havin fun on stage then its a good indication that u've given it ur best. That sense of satisfaction is more important than the money. Money 'll fall in line as u pass on the fun u've on stage to the audience.

Requirement 4:

PATIENCE:

Patience is very important!! U can't expect urself to be the best at the art at the first shot. It takes time, sometimes less and sometimes more. The important thing is to perform consistently, without getting disheartened, and to better urself with each performance. Sometimes it so happens that u lose even if u were the best; Don't worry, u won't be the first
victim. To put it in a nutshell, Patience pays!!

There u go, now u know wat u need. Go ahead and have fun!! Any help, we're always here.