Connect with us

Entrepreneurship

12 Essential Skills Required to Succeed as an Entrepreneur

Published

on

There are lots of unwritten rules about the right set of skills needed to succeed as an entrepreneur. No doubt, entrepreneurs are filled with a sense of uncertainty on the right set of skills they need to acquire. So, how do successful entrepreneurs know the right skills to integrate into their operations? This is the million dollar question, and it’s time to answer it!

As an aspiring or veteran entrepreneur, here are some of the essential skills you need to succeed as an entrepreneur:

1. Money Management

Let’s face it, you can’t achieve your entrepreneurial goals if you don’t know how to manage your finances. You need to put structures in place to monitor where your income and expenses come from.

Ask yourself if you are spending more than you earn, and also calculate your savings ratio. You need to keep yourself informed of the latest financial investment rules and how to navigate your business through difficult situations.

2. Ambition

Yes, ambition is one of the hardest skills for entrepreneurs. The aim is the skill you need to keep going when situations become dire. It’s the ability to know your destination and not to lose focus.

Successful entrepreneurs have an aggressive nature, and this is what drives them to work hard. More so, their dynamic environment keeps them cautious and always on the alert for windfalls.

3. Willingness to Learn

Learning is a continuous process. Most entrepreneurs make the mistake of restricting their education to their educational institution. Instead, knowledge is a life-long process, and it’s an essential skill for successful entrepreneurs. Therefore, you must be updated with recent events in technology, your environment, and your industry. Remember, even old dogs can learn new tricks!

4. Creativity

You need creative skills to succeed as an entrepreneur. Trying out the same thing over and over will still generate the same result. Therefore, you need to harness your creativity to discover new methods of doing things. Mind you, being creative doesn’t mean you have to do something drastic. Sometimes, it requires simple actions such as talking to people or taking up new skills.

“Creative thinking inspires ideas. Ideas inspire change.” – Barbara Januszkiewicz

5. Productivity

Successful entrepreneurs have learned how to harness their productivity skills by discovered what is productive for them, and adhering to it. More so, successful entrepreneurs increase their productivity by working at energy peak levels. Lastly, utilize the productivity tool that works for you and improves on it throughout your entrepreneurial journey.

6. Social Skills

Some entrepreneurs downplay the importance of social skills. This group of people fail to realize that you improve your chances of success by walking with the right people. Search for entrepreneurs with similar goals and observe how they overcame challenges. Furthermore, study their success strategies; this will help you to perfect your business plans.

7. Management Skills

It’s not enough to learn the skills as mentioned above without improving your management skills. As an entrepreneur, you will need to manage your workers effectively to get the right result. This is the time to learn how to encourage, develop, and support your employees. Learning a management skill will help you to recognize and allocate tasks in tandem with their strengths and weakness.

8. Social Media Proficiency

Here’s one skill that can shape the landscape of your business. Yes, social media is an integral part of your success as an entrepreneur. In the initial phase of your business, you will need to assume the role of a social media manager, and this involves knowing how to navigate and use social media platforms.

9. Perseverance

Every successful entrepreneur has experienced failures and crippling defeats. They were able to survive these dire situations when many others lost their businesses. Successful entrepreneurs persevere through these hard moments by choosing to learn and make calculated decisions from experience.

“It’s perseverance that’s the key. It’s persevering for long enough to achieve your potential.” – Lynn Davies

10. Time Management

Time management is considered a valuable skill by a successful entrepreneur. With time management, you need to have a detailed plan or schedule for your daily tasks. More so, this skill helps you to prioritize tasks and how to tackle the important ones.

Time management helps you to battle procrastination when making crucial and everyday business decisions. Think of time management as one of the hard skills for entrepreneurs. Remember, you will never achieve your goals without gaining mastery over your time.

11. Communication

It doesn’t matter if you run a small business or a large corporation. It is imperative for you to know how to communicate effectively with your clients, mentors, stakeholders, and even your employees.

It’s one skill that’s crucial to your success as an entrepreneur. Why? You won’t succeed if you can’t communicate the values of your brand. So, you need to master all forms of communication. What’s more? You need to show your employees the importance of effective communication.

12. Business Strategy

Having a business strategy is considered an essential skill for successful entrepreneurs. Although most entrepreneurs reached the pinnacle of their careers through sheer will and strength, it’s necessary to have a business strategy. Utilize the skills mentioned above to create a business structure that’ll stand the test of time.

We’ve successfully created a list of skills to succeed as an entrepreneur. No doubt, it’s been an eventful journey. Now, all you need is to integrate these skills into your mode of operations. Practice these skills until it becomes the core of your business operations.

Continue Reading

Entrepreneurship

4 Ways You Can Develop Indispensable People as a Business Owner

Published

on

In a world where more artificial intelligence, robots and automation are taking over, good employees are beginning to feel less and less indispensable. However, they don’t need to be because robots and AI cannot replace human common sense and authentic, heartfelt engagement. That being said, more and more employers are looking for good employees who want to become great leaders within the organization and are willing to make the investment.

Here are 4 ways organizations can develop indispensable employees:

1. Invest in training & personal development

Personal development is definitely the responsibility of an employee and their own willingness to improve themselves overall. But when you combine that with an employer who is looking to keep quality talent and who sees the tremendous value in assisting their employees growth, the results are incredible.

Statistics show as one of the top three non-financial motivators, 76% of employees want opportunities for career growth. They also show that corporate training has grown to over $70 billion in the United States alone. Companies that do make the investment in their employee’s learning and development tend to lead the way and sustain longevity.

They also become the most sought after places to work for. When you help grow your employees, your employees will help grow your business.

“Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.” – Richard Branson 

2. Empower them with decision-making abilities

You will find that many companies try to create a “think like an owner” mentality throughout their organizations. While this is a great strategy to implement, it cannot be fully accomplished when an employee does not have the appropriate decision making capabilities.

Companies that empower their employees to make the proper decisions (within reason and to a certain extent), become more effective and efficient as a whole. They are able to provide support to both their internal and external customers without having to wait for longer than needed timeframes to get responses.

Empowering employees through training and mentoring is one of the best practices a company can make. The more power an employee has to make certain decisions, the more sense of ownership is displayed and taken, making it a win-win for everyone.

3. Keep them informed and up to date

A wise man once said, “knowledge is power” so if you want your organization to be a powerful force in your industry, your employees need to be informed. Companies that have an effective system in place to keep employees informed and up to date usually have a higher rate of productivity and success.

Most communication within organizations is only shared within their respective departments where the information is pertinent. But imagine how much more would be able to get done if everyone was aware of what was going on company wide (again to a certain extent). That’s why interdepartmental communication is vital and in order for that to happen, employees need to be kept abreast.

For example, have you ever spoken to different people at a company and have gotten different information? That’ because they are not on the same page or haven’t been informed properly.

If an employee knew “generally speaking” about the happenings in other departments, they may be able to assist the customer base more effectively and avoid unnecessary transfers.

A good way to start this practice of being informed would be to share the company’s wins and losses, successes and failures, and any other significant changes the company may have made. When this happens, everyone is made aware and everyone is on the same page.

“To effectively communicate, we must realize that we are all different in the way we perceive the world and use this understanding as a guide to our communication with others.” – Tony Robbins

4. Develop a true culture of open communication

Honest and open communication is important in the workplace because it affects the ability of everyone being able to work together (as a team). Many employees don’t engage more frequently when asked to because of fear of being ridiculed and even losing their jobs. Why is it that most employees feel more comfortable expressing themselves during normal team meetings but are more reserved in meetings where upper leaders are present?

Could it be that clear lines of open communication have not been established? Studies show that companies who operate in an open forum style atmosphere have higher levels of employee engagement. Engaged employees are more likely to stay with an organization and in return you have less turnovers.

Creating a culture of true and honest communication also develops confidence in the upper leadership team amongst employees. When the leaders of an organization displays proper and safe two-way communication, it also helps the employees feel like their making a difference and their opinions matter. 

Implementing these tips will not only help you to develop indispensable employees but will also increase engagement and sustainability. It will also help you to develop an indispensable team to help take your organization to the next level.

Continue Reading

Entrepreneurship

5 Ways to Prepare for Your Entrepreneurial Journey

Published

on

There are many ways to get ready for entrepreneurship regardless of whether you’re ready or not. The migration to the unknown will take you through many places, emotions, and people. Your journey will be both easy and difficult, but hopefully in between, you prepare yourself with an expectation of helping people by solving problems. The quest that you are about to enter will be one to remember if you are willing to adapt quickly and not give up.

Arranging for this huge change in your life should be one of the most memorable expeditions that you will ever experience. Looking into the future and being able to lay out a road map for your entrepreneurial journey will definitely be beneficial. Though there will be challenges every step of the way, being prepared will help you achieve your goals more efficiently.

To help you get started, here are 5 ways to plan an entrepreneurial expedition:

1. Form Ideas By Visualizing And Writing Them Down

Before beginning your entrepreneurial quest, brainstorm to come up with many amazing ideas even if you never act upon each of them. It’s always a good thing to write them down on paper, computer or via a mobile device app such as Google Docs. An abundance of suggestions about your processes is better than none or even a few objectives that can possibly help in some way. 

The key is to breakdown those ideas to come up with better solutions to move forward in your voyage. See what’s more in line with your mission and values to be effective for your core audience, products or services that you may want to create. Whether you categorize those ideas or check them off one by one, coming up with different concepts will be a great start to your journey.

“Creativity is contagious – pass it on.” – Albert Einstein

2. Begin A Pattern Of Consistency By Quitting Bad Habits

Repetitive actions can present their challenges but if there’s a way to make progress and eliminate bad habits that aren’t hindering your itinerary then keep doing them. Have you ever noticed that negative thoughts, lack of confidence, and no exercise regimen could negate persistence of not only your entrepreneurial journey but other goals as well?

Get your mojo or swagger back by committing to a life of constant and everlasting consistency by stopping eating bad foods, wasting your time with hours of playing video games, watching television and other things that will stall your progress. When you get rid of actions that are slowing down aspects of your life, you’ll begin to pursuing things to help you lay the groundwork for success.

3. Be Disciplined While Listening More

Another way to prepare for your entrepreneurial journey is by being in control of yourself while paying more attention to everything else. It’s quite common to focus on things outside of your realm and instantly become something other than what you see fit. Difficulties can arise if your focal point isn’t there and somehow an opportunity pass right by you.

Mentorship even from a distance from someone that you don’t know can be a key element as you learn the importance of your mission. Listening to podcasts and watching YouTube videos of someone that has validated your idea is a great starting point as well. Mimicking them on some level can help you understand different phases that are ahead and how to deal with them.

“Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young.” – Henry Ford

4. Work Effortlessly And Prioritize Your Time

You will have to work extremely hard with an emphasis on actual time value before pursuing your pilgrimage. We often hear about the results of hard work and it sounds cliche but when many other things are happening outside of your control, finding a way to manage your time can become difficult.

Most people will start off alone with zero help in terms of having a partner and putting in 100% effort. You will likely wear multiple hats as the visionary, programmer, marketer, content creator and so on. You may have to function with only 3 or 4 hours of sleep or even none at times while being respectful and cognitive of the time of others as well.

5. Persist Like There’s No Tomorrow While Planning For The Future

What’s in you? Nobody knows the answer to that question but you and the determination for reaching your destination as an entrepreneur. Whatever the answer is, you should be driven with an undaunted passion to pursue your expedition. Go after your dreams with a tenacity that you didn’t know was within your soul and keep pushing no matter what.

Be mindful that your strong pursuit can be done all while determining the proper destination of where you want to eventually end up. Never lose your focus admist numerous distractions that will happen. The emphasis comes from experience along with talking to other entrepreneurs who had similar occurrences at multiple stages of the process.

Put in the work early with the mindset of expecting obstacles and pushing forward pass them.  It will be tedious and preparing for a grind will make your entrepreneurial journey more understandable through tough times. You will be a lot wiser and better after all of the hard work whether it’s considered a failure or success.

Continue Reading

Entrepreneurship

Consistency Is the Hidden Power to Your Success

Published

on

It’s often difficult to start a new habit or change an old behavior. There are enough books and courses online that will teach you about planning your day, planning your night, organizing your home, filtering through paperwork, and on and on it goes.

In the midst of a lot of busywork, though, there lies what I believe is a hidden secret to anyone’s success. Getting into detail about this secret, though, calls for a little reflection on your part. Look at the people you admire, whether alive or dead. Reading about their successes and failures teaches powerful lessons for life.

People will talk about “getting into a groove” and how it feels good. Writing, for me, comes a lot better when I am in a groove or in the flow. Words and phrases come quite easily because I’m sitting down to have a written conversation with you. By the way, it also helps to have a lot of experience as a writer in the back pocket too.

The Answer Lies Within The Question

“What’s the secret?” you keep asking. Look at what you are doing in your life today. In business, are you moving forward or stagnant? Connecting with new leads or looking to keep the wolves at bay by taking anything offered? Are you making time to actually do the work while also having some fun?

When you look at the values and practices of successful businesses and entrepreneurs, the one thing that is obvious is that they have developed a level of consistency in their actions. Did it happen overnight after having an awakening experience? Probably not. It was a lot of little things, done over a period of time, and it produced success.

Consistency in business, relationships, friendships, health, wellness, spirituality…you name it. Staying consistent with your actions will lead to results. Here’s a quick caveat: Make sure these consistent habits and behaviors are healthy and nurturing. It does matter in business that you develop a pattern of consistency which reflects a deep level of appreciation for people in your business or on your team.

“Success isn’t always about greatness. It’s about consistency. Consistent hard work leads to success. Greatness will come.” – Dwayne The Rock Johnson

Time and time again, studies have shown how actually being consistent in showing employees appreciation and gratitude can raise the level of work much higher. If you consistently show up as a little tyrant and liar, then you’re going to get burned. If you consistently show up as someone who reflects humility, gratitude and thankfulness for what is going on in your business and life, then you’ll get more of it.

Like attracts like. It’s just that simple. Consistency is one of the most powerful practices and forces that you can add into your business and life.

Here are three specific suggestions that can help you develop a strong core of consistency today:

1. Start out small

Let’s use a restaurant analogy real quick. You walk into a place and you’re hungry. You look at the menu and see a full-course meal that has everything you love in it. Therefore, you order it. The platter comes and you go, “Oh man, that’s a lot of food.” Eat the whole platter in one sitting and you might have a bellyache later on.

If you looked at the platter, took a little bit and ate that, then you’d have some leftovers. You start out small on the meal, not stuff your face with all the food at once. Same concept with consistency. Start out small on what you want to achieve. Just make a little beginning and follow that path.

2. Take your time

What’s the hurry here? Consistency doesn’t pick up right away if you do a total deep dive into it. You have to take your time and go at your own pace. Look, peeking at what Mr. X or Mrs. L is doing will not help you one bit. Patience and persistence are two little powerful motors to help consistency become a part of your life. Even then, though, you have to take your time. Your time, not someone else’s.

“It’s not what we do once in a while that shapes our lives, it’s what we do consistently.” – Tony Robbins

3. Appreciate the journey

While you are on the road to consistency, there are going to be bumps along the way. Just know that going forward. There are two ways to look at this: get frustrated and angry and simply say “nope, this consistency thing isn’t worth it”; or, just continue on the path and appreciate all the stops along the way. Developing a practice of appreciation and gratitudecan also play roles in you trusting that level of consistency to appear in your life.

Consistency does equal success. How you define success might be as simple as getting up in the morning and feeling grateful you have a roof over your head, food to eat, and clothes to wear. It might be closing the biggest business deal in your life. It might be looking at your children and knowing they are healthy, well, and happy. It also might be that you survived going through hell in life and made it through just fine.

All it takes is a few consistent actions to change the way you show up in this world. We all need people and examples that remind us about the little secret of consistency. Take your mind off of your phone and out of your laptop sometimes. Look around. You can find these types of success stories all around. They reflect their own results of the power of consistency. Tap into this power today and change your world, along with others too.

Continue Reading

Trending

Copyright © 2019 Peter Kimani.