Entrepreneurship, it can be a lonely path in life. But also a very rewarding one, as entrepreneurs see the forest not for the trees but for the lumber, tourism business, or any other innovative idea they could support. In short they see things others do not, and one of the most common questions, which gets asked these days is, what does it take to be an Entrepreneur?
I spoke with renowned business man Jerzi Mohideen who has had a long and celebrated career in finance working for startups, banks and Goldman Sachs, about the right skill set you need. This is what he told us you need to be.
1. Resilience
An entrepreneur must be resilient, and there are a number of reasons for this. Often they must work multiple jobs, take on side projects, and other duties to ensure they can keep their business running.
They are also told no, by so many people, so often, that most of the rest of the population would never make it as far as a business plan. Somehow they do not get deterred. If they are in an innovative business they deal with friends and family who do not understand it secretly assuming they are actually lazy and unemployed.
2. Adaptability
Anyone who has ever started a business knows often they need to pivot from the business plan, and many of these pivots happen quickly. They can be such brash moves as buying up thousands of dollars worth of Internet domains or property to protect your business. Or it could be something as simple as changing the location.
In any case it is inevitable that the entrepreneur will have to learn a whole new skill set or industry overnight. It just comes with the territory.
3. Ability to Sell
Every entrepreneur must be able to sell their idea, and this starts with being able to ask for things. Many people might consider this to be begging but in order to get their ideas off of the ground many entrepreneurs will have to ask people for money.
In the case of really expensive projects often times the early money is “free” or as they would say in the technology world Angel funding.
4. Innovative
Every single entrepreneur needs to be able to innovate. They never know when the playing field and the rules of the game will shift, and have to be ready.
5. Communicator
The best most successful entrepreneurs are master communicators. This means they can deal with people, and build the relationships to get what they need and want. Without this skill nobody from customers to investors will actually buy into their business idea.
Takeaway
I believe that entrepreneurial skills can be learned. True, some people are born entrepreneurs. However, if you are a hustler and take no for an answer, you have a great chance to acquire the required skills. It’s all about mindset, really.
How about you? In addition to what mentioned above, what are the skills required by an entrepreneur in order to be successful? Please share them in our comment section!