What Skills Does an Entrepreneur Need to Succeed?


The better question related to what skills an entrepreneur needs, is, “What skills don’t they need?”

It’s fair to say that being well-rounded is helpful in running a business effectively, but there are still certain skills that work better when you have them than when you don’t. Idea generation is usually in every entrepreneur’s box of tricks, but the nuts and bolts of running the business sometimes need a little improvement.

Here are a few skills that sometimes need tuning up to achieve business success.

Marketing 101

Most small businesses start off with a marketing budget that’s puny. The big TV ads are out of the question. Taking out billboards would break the bank and cause the Bank Manager to call your spending into question. So, what’s the best approach to marketing your business when the budget won’t stretch that far?

Social media is a good first step. It costs very little (pay freelance writers, find time to post content and respond to comments) and it’s an effective way to get your brand noticed. For local businesses, getting into Google’s local results by pinning the company’s location to Google Maps and taking the other steps necessary to get noticed in the search engines is a great idea. Meeting local business entrepreneurs through MeetUp.com or business-oriented Facebook groups is a good way to network effectively and look for ways to get into joint ventures too.

Lacking in Leadership Experience?

While you’re the owner of the business, you may actually lack key leadership skills or managerial experience. That’s nothing to be ashamed of, but it is something you should address over time by taking a masters in executive leadership course. The executive leadership masters at Norwich University includes lessons on team building, leadership traits, and the crucial life-work balance to avoid burnout.

The executive leadership masters online is a special internet course that permits students to take modules gradually over time from the comfort of their living room, home office, or den. The course can even be taken privately to not let employees know that you’re brushing up on your leadership skills if that’s a concern.

Managing Disputes

Being able to handle arguments between employees and resolve disputes that arise between the company and important customers is an important business skill. More listening is involved than talking when it comes to dispute resolution because, at first, one must understand the problem to properly address it. The other party also needs to know that you’ve heard them and understand their annoyance before any resolution can be suggested to put the matter to rest and resolve the issue. Learning to manage problems, get to the heart of it quickly and make smart choices about how to fix the problem is necessary to avoid a situation where you’re putting out fires all day long. After all, you’re not going to be as productive if you’re in constant crisis management mode.

Being an entrepreneur is a fun, ever-changing journey. You never know what will happen from one day to the next. By learning a broad set of entrepreneurial skills, you make the journey less bumpy and far more enjoyable.

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