These 7 Entrepreneurial Characteristics and Skills Will Determine if You Succeed or Fail
by Samantha Studebaker-Carl | on June 1, 2012
Do you have these Entrepreneurial Characteristics and Skills? If not, you may be setting yourself up to FAIL.
Are leaders born or created? People often wonder if it’s possible to harvest entrepreneurial characteristics and skills.
Becoming a successful entrepreneur is not something that is achieved overnight. Nevertheless, it is definitely beneficial to have been born with entrepreneurial skills and qualities, but not everyone is so fortunate.
Having the drive of an entrepreneur helps, but being equipped with these key entrepreneurial skills is essential for success. Entrepreneurs do not have to be born with personal entrepreneurial skills. They just have to be willing to acquire them!
What Skills Does an Entrepreneur Need?
Entrepreneurial Characteristics and Skills consist of finding a way to make your personal ideas profitable. In order to do so, a budding entrepreneur must cultivate their skills to solidify a foundation. Below, are the seven key entrepreneurial skills that are necessary for success in any business venture.
1)Communication skills are paramount to the most successful entrepreneurs. Being able to relate to others is vital. Without communication, nothing can be accomplished.
2)Quick and Concrete Decisions – Quick and efficient decision making skills are definitely present in the repertoire of successful entrepreneurs. Entrepreneurs are leaders. Leaders have to call the shots and make decisions on the fly. Being able to do so will garner attention and respect from coworkers, business partners, and others in your respective industry. Decision making is most definitely a key entrepreneurial skill.
3) Managerial skills: Entrepreneurs need to be equipped with managerial skills. Being a good manager means that you can manage both yourself and other people. The ability to leverage your time, delegate responsibilities to key people, and get projects completed in an efficient manner is a true indicator of a talented leader.
4) Flexibility: A good entrepreneur must be flexible. Business doesn’t always go as planned. Deadlines change, costs arise unexpectedly, disasters happen, and people don’t always perform as anticipated. If an person can’t ‘roll with the punches’ and come up with solutions quickly, odds are good that he or she won’t be an entrepreneur for long.
5) Competitiveness and the willingness to take risks are needed for survival in any industry. Those with a competitive spirit always strive hard to make moves that can make a business rise above the rest. Taking risks is necessary if a business is to grow.
6) Laser focus – it is a misnomer to think that leaders are good at multi-tasking. When in reality the best leaders know, completing one task at a time and managing their time in order to complete many things in one day, is 100 times more effective than so-called multi-tasking.
7) Inspiration: Probably one of the most overlooked and under emphasized entrepreneurial characteristics and skills is the ability to inspire others to greatness. Some of the most influential entrepreneurs in history were able to inspire the masses into action. When you think of any of the most amazing engineering accomplishments or massively organized achievements, you realize that these things could not have been accomplished without one person inspiring many others to make them happen.
Entrepreneurial Characteristics and Skills: How to Develop Entrepreneurial Skills
There is an incredible amount of training material available online for budding entrepreneurs. Countless books and articles can be found that are solely dedicated to cultivating potential entrepreneurs.
To be clear, even those who are born with innate entrepreneurial skills and qualities have plenty to learn. The most successful entrepreneurs always continue to educate themselves. Perhaps the most valuable entrepreneurial characteristic and skill that I forgot to mention, is the insatiable desire to continually learn & implement new things and competitively strive for innovation in their industry.
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