TEN VITAL SKILLS IN ENTREPRENEURSHIP


Getty Images

Running your own business means having to wear all different types of hats. Whether it's your marketing hat, your sales hat, or your general people skills hat, you're going to need to know how to court sales, and on the other side of operations, you are also going to need to know how to run a balanced account and continue to grow your wealth.
Though there are many business skills that a successful entrepreneur will have, the following ten skills are the ones that you absolutely need to make your business successful:

  • Communication

Communication is an underlying skill for many others in business (sales included). Communication is how you will be able to cultivate loyal employees, charm customers into coming back time and time again, and court investors and other sources for increasing revenue for your business. This skill can also come in handy when dealing with vendors or any other necessary business services that may apply to your venture--being friendly in business-to-business relationships is a sure-fire way to be treated a little bit better, therefore making at least one aspect of your job a little bit easier.


  • Ability to spot new trends.

Business moves fast, so you’ve got to have the ability to see changes coming in your industry. Make it a point to keep up to date on new start-ups and the advances in technology that could be poised to disrupt your field.

  • Customer Focus

Successful entrepreneurs keep a narrow focus--on the customer that is paying their bills. They do not forget that everything that they do is for the customer, since the customer is the one that is allowing them to do anything in the first place. A good business owner will always have time for a customer, whether they have a complaint or praise. Having good customer focus will mean that you see every customer as an opportunity to do better and grow, versus an annoyance or a difficulty.

  • Make entrepreneur friends 

According to entrepreneur Jim Rohn, “You are the average of the five people you spend the most time with.” So who do you want to be? Improve your odds of success by finding entrepreneur friends who will be able to understand your struggles and give you much needed insight.


  • Sales

This one is a no-brainer--of course you are going to need sales skills in order to run your business! After all, marketing can drive customers in to your business, but sales are going to be what keeps them coming back and keeps putting money into your pocket. It is no wonder why most entrepreneurs actually come from a sales background!

  • Financial management

Being able to effectively managing your finances is a critical. You will need to be able to forecast your cash flow and sales, as well as, monitor your profit and loss. You will also need to declare your income to the Australian Tax Office.
Having sound financial management skills will help you to run your business profitably and protect your financial investment.

  • Curiosity

The best business skill has always been a healthy curiosity. This will lead you to look into what your competitors are doing, and it will also allow you to utilize new technologies to the best of your ability to streamline your business and even reach out to new customers. When the only limit you have is what you can imagine and apply, just about anything is possible

  • Identify strengths and weaknesses.

As a business owner, you don’t need to be perfect at everything. You do, however, have to understand where you’re strong and where you’re weak. Assessing this will inform everything from the business decisions you make, to the partners you bring on, and to the employees you hire.


  • Sales

This one is a no-brainer--of course you are going to need sales skills in order to run your business! After all, marketing can drive customers in to your business, but sales are going to be what keeps them coming back and keeps putting money into your pocket. It is no wonder why most entrepreneurs actually come from a sales background!

  • The desire to improve your world.

In the end, the best and most enduring motivation is to make a positive change in the world. When you focus your business and your success on that top priority, you’ll find yourself ready to weather any storm to meet the goal.

So here you have them, there are many points that can help you improve your entrepreneurial skills, the points above are just little out of an ocean of points, our job is to research and help get you all the information you need to succeed in your entrepreneurial journey especially been in a continent that promote white collar jobs better than entrepreneurship. So go on and SUCCEED.
If you liked this article, please share us with your friends and don’t forget to drop your comment and suggestions, to help us serve you better. 


Comments

Ads

Popular posts from this blog

5 Reasons Why Businesses Fail (Infographic)

TOP 10 RULES FOR SUCCESS BY BILL GATES

STORY AND LESSONS FROM THE YOUNGEST BILLIONAIRE: MARK ZUCKERBERG

Entrepreneurship vs a Corporate Job: What Should You Select?

ARE YOU AN EGG, A CARROT OR A COFFEE BEAN? KNOW YOURSELF

LESSONS I LEARNT FROM ENTREPRENEURSHIP

LESSONS FROM BERNARD ARNAULT; THE RICHEST MAN IN FRANCE

6 Things Your Small Business Needs to Spend More Money On

MAKE YOUR CUSTOMERS FALL IN LOVE WITH YOUR BUSINESS

STORY OF NICKY OPPENHEIMER: AFRICA'S THIRD RICHEST PERSON