5 Skills of Successful Entrepreneurs

April 8, 2016

7:22 pm

Entrepreneurs all come from different backgrounds and they possess different sets of skills. But you’ll also discover that every entrepreneur has a number of traits in common. These are the attributes that allow them to become success stories and (not one of the 90 percent that fail).

Communication

You may think that because you are the only person in your business that you don’t have to worry about communicaion. But you still have to maintain clear lines of communication with your customers. You need to keep them updated on the developing situation at all times.

If you do have staff, a lack of communication can lead to a loss of productivity. You have to go out of your way to communicate and to make sure that everyone gets the full story. It doesn’t mean you have to be extroverted and charismatic. It just means that you have to be considerate.

Self-Starter

Do you have trouble getting out of bed in the morning? Do you have problems with personal development without any prompting?

Then you are probably not going to have a long and successful career as an entrepreneur. If you don’t go into work today absolutely nothing happens. If you miss a week nobody is going to care. You can take a year off and still nothing is going to happen.

That’s because you are the boss and nobody is going to reprimand you for coming in late. But your business is going to suffer if you lack the ability to start the day without any input from someone else. Becoming your own boss involves big responsibilities. You have to take them along with the perks.

A Learner

The one thing you’ll always spot in an entrepreneur is they are always learning new lessons. They are never satisfied with their current set of skills. This applies even later in life where you may be bringing people in who are more experienced than yourself to do something.

But you should always be the expert in your industry. If a new innovation appears, you should know about it. It’s vital that you are always aware of what’s going on in your field. You should be always learning and always studying. Don’t do the bare minimum in order to catch up.

The best entrepreneurs are always at the cutting edge of their fields.

Branding Masters

Your brand is what will make you successful. Branding is a word that is always tossed around, with few people truly understanding what it means. Branding matters because it’s the sort of thing that will determine whether you will become a success.

Every entrepreneur is a master of their field because they were able to brand their products and services. They were able to create a consistent message across multiple platforms and that message was something people actually wanted to hear. This is not an area where you can hire someone else to do it for you.

Open-Minded

There are many scenarios where an open mind may come in handy. One of these areas is in being able to listen to your subordinates and to take on other points of view. It doesn’t mean that you lack a back bone. It means that you are open to change and you are not going to rigidly stick to an old way of doing things simply out of pride.

It also applies to having an open mind to the rest of your industry. You need to be able to swallow your ego from time to time and admit that a competitor may have something superior to you. That’s something you can learn from. But someone who isn’t cut out for this life may scoff and continue on their chosen path anyway.

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AJ Agrawal is an entrepreneur, speaker, and writer. He is the CEO and Co-Founder at Alumnify Inc.

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