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Entrepreneur’s Basic Skills

Who is An Entrepreneur?

An entrepreneur is someone who strives to launch or create a new product or service in a new or already existing market. An entrepreneur is a creative person who tries very hard in the face of many uncertainties and lack of sufficient data to embrace risks and solve problems. His or her end goal is to capture a new territory that was previously unknown or that is seen as very hard to own.

Who is A Businessman?

A businessman is a person who seeks innovative ways to connects buyers with products or services in an efficient manner so as to maximize investors’ values. A businessman may not always be the creator of a product or service but he provides value from profitable marketing to customers.

Furthermore, an entrepreneur usually possesses the mandate and drive to embark on risky ventures. A businessman on the other hand has to protect the value of his enterprise and look for ways to grow the business responsibly by taking calculated risks sometimes.

Bill Gates is an example of an entrepreneur. Columbus is another example of an entrepreneur. He collected money from the Queen of England and succeeded in convincing a crew to follow him on what can be best described as an insane journey!

Many entrepreneurs usually turn into businessmen or at least hire people who can assist them run their business after they have figured out a fit for their product market.  Likewise, an ambitious businessman must have an entrepreneurial quality so as to improve on the success of his business. Alternatively, he can hire talents who can do this for him.

8 Skills Every Successful Entrepreneur Must Have

What do you need to start your own successful small business? Below are the eight skills every successful entrepreneur must have:

Learn. Every successful entrepreneur must accept the fact that they don’t know everything and that the market they are entering is constantly changing. They must update themselves on new technology, systems and trends in their industry.

Focus. First an entrepreneur must set a long term vision and know how to “laser focus” on every step for getting him closer to his ultimate goal. You will discover abundant number of distractions when you are trying to build your business, so this skill is difficult though not impossible to master.

Self-Reflection. Look for time to reflect on your past and plan for your future. You must not allow yourself to be burnt out emotionally and physically.

Self-Reliance: Although there are many sources of help for an entrepreneur, he should be resourceful enough to rely on himself.

Resiliency. An entrepreneur must possess the ability to surmount the ups and downs of his business since the business usually does not go exactly the way he planned it. This skill gives the entrepreneur hope and continuity when the future of his business looks bleak.

Long-Term Investment. A successful entrepreneur must be patient and should focus only on what is coming next instead of where the company should go. It may take 2 to 10 years to experience overnight success. An Entrepreneur should pause, stop and plan on a quarterly basis.

Find People and Manage Them. As an entrepreneur you can build a scalable company by learning how to leverage your employees, your vendors or other resources you have. You need to join the network of the right people. All these resources will give entrepreneurs a guarantee of honesty and timely feedback from all these sources.

You Must Sell. An entrepreneur is a sales person whether he wants to be or not. He is either selling his ideas, services or products to some customers, employees or investors. he must be ready to sell when customers are ready to buy.

Now that you’ve seen what it takes to be an entrepreneur, would like to be one? Do you want to take the first step towards impacting the world? We can help you! Please consult us or visit our Training Page today to read about how we can help you. We have very skillful partners and resourceful people that can help you.

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