Top 10 Entrepreneurship Skills You Can Develop

entrepreneurship skills you can develop

Top 10 Entrepreneurship Skills You Can Develop- Entrepreneurship is simply defined as the process of establishing and managing a business venture in order to achieve set objectives (which is most times profit making). An entrepreneur is an individual who identifies an opportunity and then go ahead to start a business based on the opportunity cited. He/ She is a risk-taker.

To be a successful entrepreneur, there are some skills you must possess and also sharpen. Even if you are a business executive and not an entrepreneur, these skills can also be useful as you progress in your career. In the following paragraphs, we would discuss top 10 entrepreneurship skills you can develop and how you can acquire these skills.

Top 10 Entrepreneurship Skills You Can Develop

#1 Communication skills

This skill is highly important for entrepreneurs. You must be able to communicate in clear language with your clients, customers, staffs, vendors, etc. Both written and oral communication are highly important. Communication skills also include active listening, stress management, emotion control, verbal and non-verbal communication.

#2 Leadership skills

As an entrepreneur, you should have strong leadership skills. You are going to have to provide leadership for your staffs and team members, taking decisions, managing affairs and so on.

#3 Strategic thinking and planning skills

This skill is required by entrepreneurs to help them achieve goals, overcome challenges and be able to allot resources appropriately and  make intelligent decisions. Strategic thinking and planning skills entails analysis, implementation, flexibility and attention to details.

#4 Creative and critical thinking

You need some good level of creativity as an entrepreneur. You need creative ideas for different aspects of your business: marketing, sales, promotion, branding, etc. You need some level of creativity to be able stand out from your competitors. Creative thinking will help you solve problems , take intelligent decisions and expand your business generally.

#5 Problem-solving skills

As an entrepreneur, you will come across challenges from time to time. You can not shut down your business because of a problem you encountered, rather you solve the problem and move on. Thus, you must be skilled at problem-solving.

#6 Time management

You must be skilled at managing your time effectively. This is because as an entrepreneur, so many things will lay demand on your time and attention and you must know how to set priorities right and manage your time well.

#7 Sales and Marketing skills

This is also a critical entrepreneurship skill to develop. It is not enough to have beautiful ideas of product or service, you must know how to generate sales. If you keep producing without making sales, you would soon be frustrated and shutdown that business. The sales and marketing unit is the heart of any business. At the beginning of your entrepreneurship journey, you will have to manage most of the units yourself including sales and marketing unit. But as the business grows and expands, you can hire people to run the unit for you. You must know how to market and sell your product/ service.

#8 Financial management

It is part of the entrepreneurship skills to develop most especially at the early stage of your business. You should know how to do simple book keeping and accounts, keep sales record, debit and credit account. You can take up some short courses online to master financial management. However, as the business grows and expand, you can contract the financial management of your business out.

#9 Persistence

To be a successful entrepreneur, you must develop persistence. The first step is to be sure that what you are doing is the right thing, what you love to and what has great potential for success. Then get your methodologies right. The next step is to keep at it. Don’t give up. Some discouraging factors may arise on the journey, but don’t let such sway you. Keep working hard and giving the business your best shot.

#10 Customer service skills

This is also among the key entrepreneurship skills needed for business. Your customers are part of your tools for success in business. You must know how to keep a good customer base and keep those customers happy and satisfied always. You should also know how to seek for new customers.

Other Entrepreneurship skills include:

  • Technical skills
  • Business management
  • Teamwork
  • Networking skills, etc.

How Do I Develop Entrepreneurship Skills

These are some of the ways to develop entrepreneurship skills:

Take a course on entrepreneurship

This is one great way of developing entrepreneurship skills. You can take up courses in marketing, financial planning, business, management etc.

Read books and materials on Entrepreneurship

You can do this by reading books, articles, to acquire entrepreneurship skills.

Participate in workshops, seminars and conferences

Attending workshops, seminars and conferences focused on entrepreneurship is another great way to acquire entrepreneurship skills. At such events, you get to meet business owners where some even get to share their secrets of success with you. You also get to ask questions and also have one-on-one interaction with successful business owners.

Look for mentors

Another sure way to sharpening entrepreneurship skills is by getting mentors. Observe how they manage their business, how they think, how they solve questions. Schedule meetings with them where you get to ask intelligent questions from them.

What Do I Need Entrepreneurship Skills For?

To start and run a business

To start your own business, you will require entrepreneurship skills such as planning, critical thinking, business management, etc.

In career development

Entrepreneurship skills is also important in your career development. So even if you are not a business-oriented person, you will still need these skills to advance in your career.

Problem solving

Whether you are a business person or career-oriented, you will come across challenges sometimes. Entrepreneurship skills will be required to solve those problems.

What Mindset Should An Entrepreneur Have

There are 3 kinds of mindset you should have:

Growth mindset: He/she should believe that through dedication and hardwork coupled with the skills possessed can achieve great success.

Strategic mindset: With a strategic mindset, you will be able to think critically and make intelligent decisions about your business.

Resilient mindset: With a resilient mindset, you will be able to adapt to changes occurring around your business. This will help you stay focused even in the face of obstacles and oppositions.

Why You Should Consider Entrepreneurship

You have lot of freedom and autonomy

One of the benefits entrepreneurs enjoy is lots of autonomy and freedom. You are in control of your time and schedules. You have the sole power to determine how much you succeed in your endeavours.

There is much flexibility

Working as an entrepreneur opens you up to a lot of flexibility. You can get to manage your time and schedules by yourself. You also have time to attend to family and personal matters.

Opens you up to personal growth

As an entrepreneur, you get to face a lot of situations and circumstances that challenges you. As you go through and overcome such challenges, growth is happening in you.

Financial freedom

As an entrepreneur , you have greater opportunity to earn more than an employed person, most especially if you are hardworking and dedicated in the right kind of work. Also, you will experience higher degree of financial freedom.

Builds creativity in you

Entrepreneurship gives you an opportunity to express and develop creativity.

Last Note

Entrepreneurship skills such as communication, strategic planning, leadership, customer service, and others are not just for entrepreneurs alone, business executives can also find these skills useful as they advance in their career. These entrepreneurship skills are not that difficult to acquire. You can get to read books, attend workshops or get a mentor to develop the skills.

Frequently Asked Questions

What skills are the most important for an entrepreneur?

For you to be a successful entrepreneur, you must master the following skills:
Effective Communication
Marketing skills
Strategic planning
Creativity
Leadership
Problem solving etc.

How can I build entrepreneurial skills?

Start up a business
Be involved in volunteering
Get a mentor
Develop effective communication skills
Master your finances

What mindset should an entrepreneur have?

An entrepreneur that is going to succeed must have the following mindset
Growth mindset
Resilient mindset
Strategic mindset

What are the different types of entrepreneurship?

Small business
Scalable startups
Large companies
Social entrepreneurship

What is the meaning of entrepreneurship?

Entrepreneurship can be defined as the process of creating , organizing and managing a business in order to make some profit while incurring some financial risk.

References

  • www. indeed. com- A Guide to Entrepreneurial Skills: Definition and Examples
  • https:// emeritus. org- Top 10 Entrepreneurship Skills Every Entrepreneur
  • www. entrepreneur. Com- 12 Effective ways to build entrepreneurial skills that matter
  • www. shopify. com- What is entrepreneurship?

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