13 Skills Entrepreneurs Must Have To Be Successful in 2017
Businessmen buy lemons & sell them at higher prices. Entrepreneurs will ameliorate and sell lemonades. Entrepreneurs are a blessing to the mankind. There would not have been any vehicle to commute if it was not for Henry Ford who commercialized vehicles or we wouldn’t be sitting on our laptops to crawl through information on the internet.
These entrepreneurs were very particular about their work, vision, time management and powerful habits they embraced. They realized few simple skills that made them different from the rest of the world.
1. Setting realistic goals
Being an entrepreneur is a lifestyle that one embraces. It can be overwhelming when you have to manage (almost) everything. Subsequently, it becomes necessary to set long & short-term realistic goals to keep things in perspective.
Most of the successful entrepreneurs wake up early in the morning to kick start their day and gaining an edge over competitors.
2. Focus on one thing at a time
A secret to getting things done in less time is to laser-focus one thing at a time. Focusing on one thing at a time allows you to dedicate all your concentration and attention to that one thing. This not only get things done in less time but also gives you quality work.
3. Be Pro Active
Being an entrepreneur is not everyone’s cup of tea. They are constantly on the edge and pushing themselves. Being one step ahead is always rewarding than to sit back and wait for the right moment. They struggle every day and dedicate themselves for months (if not years) to achieve their ambitions.
Most of the successful entrepreneurs never shelve their work for tomorrow, until absolutely necessary.
With right people, you find right opportunities. For finding right people you need to go out and talk to people. Networking is an art of making contacts with people who might be helpful in some or the other way in future for your venture.
This not only builds contacts but also self-confidence when you know you are not the only one who needs help.
5. Utilizing the Internet the Right Way
The Internet has transformed the way we do business, market products & services, media and managing information. Traditional businesses have realized the potential and incorporated their strategies for max reach.
This also gave rise to internet based companies, bloggers and life to various freelancers. Various entrepreneurs out-source their work to save time and possibly find people to work full-time just on the click of a button.
6. Keep a Check on new Trends
One thing which will never stop is innovation. A teenager sitting in dorm-room might come up with the next big thing and take the world by storm. It can happen in a blink of an eye. Knowing where the world is moving and adapting to changes is the key.
7. Managing people
Richard Branson quoted “You tend to people and they will tend to your business”.
Taking care of people you work with automatically converts into managing your business. You need to be able to motivate and inspire them to work. You also need to work out their level of autonomy and job scope by understanding their personalities.
8. Managing Expenses
An Entrepreneur is a master expense manager. He needs to be able to work out the math which fits the overall and detailed equation for the venture and not end up running out of fuel before it’s too late.
9. Understanding your Customers
Knowing your customers well is vital for any business to prosper. Look at any famous business. Any big business has a huge customer base which appeals to them.
10. Using Available Resources Wisely
Any business is going to require multiple resources, from inventory management to selling. When you start a new business you might not have all the resources. The key here is to utilize whatever you currently possess in your arsenal.
A successful entrepreneur is a master salesmen. He should be able to sell not only his products but also himself. Steve Jobs was a very charming salesman. Although he capitalized on the quality and various other critical factors of his products he managed to create a brand out of Apple.
12. Deal with failure
You are going to hit the dirt, especially when it’s your first time or entering a new market or business. There are always going to be things which are not going to work out as planned.
The Finnish company, Rovio Entertainment created the very successful video game franchise, Angry Birds. This was their 52nd game. They were on the verge of closing down the 6-year-old company then due to successive failures in their projects before they finally succeed with Angry Birds.
13. Have a Bigger Purpose
Are you making this world a better place? Does the world require such a thing? What impact are you going to create with this? Such questions need attention. Sometimes the answers are not clear, but a little brainstorming can help you navigate some mazes.
An entrepreneur is going to deliver more than expected and look at the bigger picture while making critical decisions.