5 Skills Every Entrepreneur Needs

Ask any business owner if running a business is easy and they’ll tell you that you need hair on your teeth to deal with the daily ordeals that come with the title; business owner / entrepreneur.

Seriously, imagine a page long list of problems before you’ve even managed to have your morning cup of morning! This is the reality of entrepreneurship.

Entrepreneurs wear many hats; number cruncher, admin, sales, customer service, mediator or even barista if you’d please.

But, lets be frank, it’s not all doom and gloom. There’s an equal amount of positives to running your own business. And, to do so, you’ll need a few skills to crush it in business.

Stress and Time Management

If lavender is meant to relieve stress, then entrepreneurs should probably bath in it. Stress is a part of the package any owner would much rather wish away. And while we can’t expect them to be perfect beings, being able to effectively manage business stress at least 60% of the time gets them closer to superhuman status.

Money Management

If ever there was a top spot competition for entrepreneurial skills, money management would be one of the strongest contenders. They say, if you can manage money, you can manage anything.

The priority for any entrepreneur is to make decisions that will contribute to the growth of the company. And money plays an important role in many decisions that need to be made.

It can determine the success of the business, keep it from failing, help reduce or eliminate unnecessary costs and, more importantly, impact the profitability of the business.

Problem-solving

If you can’t solve problems, then you shouldn’t be in business. There’ll be unhappy clients demanding your attention, internal issues or processes that aren’t making your ship sail smoothly. But see these as a drop in the ocean of all the issues that can arise.

Problem-solving is a two-part skill; first there’s the ability to be able to identify the problems, and then, there’s finding the solutions that will help move the business forward.

Communication

Communication in business will take many directions – communication with employees, customers, suppliers or service providers and investors.
And it will come in many forms; a business owner will need to listen, relay, interpret and motivate. Strong communication skills will help build trust, solve problems and give your business a better sense of direction.

Resilience

Stress, problems, a lack of focus, losses and rejection are beasts that business owners are no strangers to, and factors that can break a business. But drive and determination will keep you and your business progressing in the direction it needs to go.

Rome wasn’t built in a day, and your business won’t be an overnight success. There will be highs and lows along the way, but when you nurture your entrepreneurial skills, you better your chances of growth.

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