Improving entrepreneurial skills is a life-long pursuit that requires continually working towards self-development. Before you can better your business, you must first better yourself. Several skills can be applied to nearly any entrepreneurial enterprise and will help ensure that you are equipped to become the best business person you can be. In this article, Keith Orie – a successful entrepreneur from Temple, Texas, explains how to develop your entrepreneurial skills to get ahead in your personal and professional life.
One of the hallmarks of successful entrepreneurs is that they have mastered the skills required to build a company and realize their dreams. There is not a single set of skills that will work for every entrepreneur, but below are several that cross nearly all boundaries and are essential for business success – especially a small startup business.
Two types of technical skills essential for entrepreneurs are trade or craft specific skills (what your business does) and marketing and communication skills.
While you may plan to manage your startup business but not necessarily be involved in the day-to-day technical aspects, you need to be proficient in your business’s work. Even if your business plan includes hiring out much of the technical rubber-hits-the-road work, you are more likely to achieve success if you have an intimate knowledge of all the details. Technical know-how will help you apply creative thinking and spot potential problems.
Marketing and communication skills are vital for entrepreneurs. Social media platforms, email marketing, websites, and advertising all require a technical ability to navigate successfully. Until your staff grows large enough to include specialists for these areas, they will fall on you. Learn the technical aspects of how to make your company shine. With the right skills, even the smallest company can project an appearance of established success.
Teamwork and Leadership
Your new business’s success will be closely tied to your ability to be a good leader and a good teammate. You need to develop the skills necessary to guide the business through many obstacles and challenges while nurturing an effective team environment with your partners or employees.
Many of the tasks associated with being an entrepreneur require an in-depth understanding of business management principles. Whether you are a serial entrepreneur or plan to launch only one startup, knowing the basics of business law, industry-specific regulations, and taxes are crucial.
Much of being a successful entrepreneur is about creative thinking. You will need to see the options and possibilities that others have missed or can’t see. You will need to think outside the box at every level. As the adage goes, “if it were easy, anyone could do it,” your creativity is what will set you apart from the crowd.
Spreadsheets and balance sheets may bore you to death, but you can’t avoid them. Even if you are fortunate enough to hire an accountant to do the heavy lifting, every entrepreneur must know where they stand financially at every moment. Quick financial decisions are often needed to take advantage of unexpected opportunities. If you don’t have the financial skills to know your choices’ impact, you are doomed to fail.