Essential Skills Required to Succeed as An Entrepreneur
Posted 02 Sep, 2020
Author - Abidemi Owolabi
Essential Skills Required to Succeed
as An Entrepreneur
entrepreneurs believe that the most important factor that will determine their
level of success with a start-up relates to their overall experience and skills
in the niche area. However, the most successful entrepreneurs have developed a
certain set of skills that have helped them reach their goals.
Curiosity: Great entrepreneurs are tasked to
discover new problems, reveal potential niche opportunities, refactor their
original business process, and innovate. This is contingent on being passionate
about different fields of study and business cases outside of one’s comfort
priority planning, defining milestones, execution, and iteration are all
important. None of that would lead toward progress without the right project
management and time allocation methodology that gets the work done.
to decompose a problem to its core and reveal opportunities for growth.
Figuring out creative solutions and identifying the low-hanging fruits.
Defining the scope for an MVP and testing concepts within limited time and with
a low budget.
Efficiency: You need high performance when it
comes to solving a problem. Applying the 80/20 rule and other techniques for
yielding higher results in less time. Switching between different chores and
progressing effectively day-to-day.
stress, burnouts, lack of focus, slow progress. Determination and eagerness to
fight the same dragon every morning is instrumental when it comes to building a
business from scratch.
Communication: Crisp and concise communication is
paramount for each interaction with clients, partners, peers, clients,
Networking: Growing a network facilitates
business opportunities, partnership deals, finding subcontractors or future
employees. It expands the horizons of PR and conveying the right message on all
Finance: Finance management will make or
break a business. Handling resources properly and carefully assessing
investments compared to ROI is a solid requirement for entrepreneurs.
Branding: Building a consistent personal and
business brand tailored to the right audience. Igniting brand awareness in new
Sales: Being comfortable doing outreach and
creating new business opportunities. Finding the right sales channels that
convert better and investing heavily in developing them. Building sales funnels
and predictable revenue opportunities for growth.