//
Entrepreneurs are made, not born
There is always a debate on the quote, “Entrepreneurs are made, not born.” The debate is how you are made and how is the journey towards being a successful entrepreneur, what kind of skills are needed, which are the areas to be groomed, and lots more.
The question on your mind would be: “What makes a prodigious entrepreneur?” and “What are the skills that separate them from the rest?”
Let’s look at those skills of successful entrepreneurs that can be an inspiration to new entrepreneurs:
1. Acceptance of (and learning from) failure
Failure is treated as a part of success, and a successful entrepreneur always learns from failures. Disappointments are considered as a part of regular activities and they get better by learning from their past mistakes.
Entrepreneurs plan their strategy and work hard to reach the pinnacle of success. They have a clear vision and they exert effort to make their vision into reality.
2. Delegation
Ideas are executed by people, and one successful entrepreneur cannot run a business alone. He or she needs to know how to motivate others to join him for the journey of success. Delegation of work is considered as one of the vital skills for an entrepreneur as he/she needs to work on the crucial parts and then pass on tasks to others.
To set right goals, it is necessary to make things happen in a way they should be happening. Entrepreneurs sell their vision and thus inspire others to work for their goals.
3. Adaptability
If you are not able to adapt to your surroundings, you are not able to survive in this tough market. There would be obstacles on the path, and competitors would throw in many more complications during your journey.
This is the time where you have to adapt to the situation and work accordingly to survive, instead of looking towards a negative perspective, think upon what can be improved better.
4. Expertise
When it comes to being an expert entrepreneur, Malcom Gladwell stated that 10,000 hours of practice is needed to attain the level of expertise. Now it is not necessary for an entrepreneur to be expert, and on the other hand, he/she must have a wide range of skills. It is important to know what customer wants and how to make it better with the passage of time.
Entrepreneurs need to be aware of the trends that are ongoing in the market along with the changes to be added or modified with the current business model. There is a famous quote for being an entrepreneur:
Learning doesn’t end in school.
5. Investment
To become an unbeaten entrepreneur you need to know the importance of investment and where and when to invest. Successful entrepreneurs invest their time and money into their own people. There is no overnight success; it takes a span of years to get that success. Entrepreneurs always welcome mentorship and guide their peers towards the journey of success. They focus on developing skills of others, as they know it would be an investment now and return later.
As per the surveys carried out among 2,000 Americans by the Kauffman Foundation, approximately 37.8 per cent of respondents who knew an entrepreneur were entrepreneurs themselves. Networking is an integral part of entrepreneurship and thus networking and meeting the right crowd and new people will be useful in your journey as entrepreneurs.
6. Handling decisions
It’s in the nature of an entrepreneur to think quickly and qualitatively that helps them take up decisions in most of the crucial situations. There might be chances or situations wherein the decisions taken by an entrepreneur may not be right. In that case, entrepreneurs learn and analyse the situation in order to avoid the same mistakes in near future.
Also Read: 6 ways entrepreneurs successfully handle sales slumps
7. Leadership
You have to lead on each and every point of your journey. Entrepreneurs are decent leaders, as they can communicate ideas easily and motivate peers to work for the goal. It’s all about inspiring others to get the work done. Leadership skills are not inborn — they are to be developed with the growth and along with the process of learning.
8. Ambition
We all have ambitions, don’t we? But when it comes to entrepreneurs they have to be widely ambitious and have innovative ideas to bring out a change in the market. In order to be a great entrepreneur, ambition is the key factor to it. If there is no ambition, then an entrepreneur won’t be able to see the impact his business can make and growing his business won’t go far, too.
Entrepreneurship does not necessarily involve the process of starting one’s business. Most of the people who don’t work for themselves are also recognised as entrepreneurs within their organisation because of their interpersonal and professional skills.
The takeaway
As business varies, so do the abilities of people. What makes you an ‘entrepreneur’ is your skill. It’s not about how vast your business is or how much turnover your business has — it is about the business approach.
As per the famous quote by Rich Dad:
Skills make you rich, not theories. If you have the skills, polish them, if you don’t have, develop them.
It’s a career decision to become an entrepreneur, do your homework on your skills, your needs, and your desires.
—-
The views expressed here are of the author’s, and e27 may not necessarily subscribe to them. e27 invites members from Asia’s tech industry and startup community to share their honest opinions and expert knowledge with our readers. If you are interested in sharing your point of view, submit your post here.
Featured Image Copyright: nexusplexus / 123RF Stock Photo
The post Practice makes perfect: Here are 8 things that every entrepreneur needs to learn appeared first on e27.
from e27 http://ift.tt/2jLKoje