The ability to successfully establish, run and make profits in any type of business enterprise in the 21st century will require entrepreneurs to have certain essential personal traits. This is because various industries have become very competitive therefore entrepreneurs need to be extra inventive in order for their enterprises to be able to stand out.
We take a brief look at 5 skills we believe entrepreneurs will need. However, because this is a broad topic, we will expound more in our subsequent posts.
Being highly adaptable
It’s very important for any entrepreneur to fully appreciate the fact that change in the business environment is inevitable. This therefore requires an entrepreneur to learn to be adaptive to this change, through being ready to modify their product, consumers they are targeting, marketing techniques, among others.
Have a sense of self-discipline
As an entrepreneur, the ability to manage you time, your work, recognize your weaknesses and be open to learning, work independently or collaborate with others as you develop your plans is very important, and will require self-discipline. This is the ability to know yourself and ensure you keep your emotions in check.
Have a sense of curiosity
The key to creativity in business is having a curious mind. It’s an entrepreneur’s curious mind that will drive their process of identifying needs that exist and thereafter engage in product design with an intention of addressing these needs. This is essentially how business enterprises are born.
Have a sense of creativity
In business, creativity is key because an entrepreneur is always required to come up with new ways of solving problems through their products or services. Being creative allows them to be original therefore their products or services can stand out more in the market therefore assuring them better positioning.
Have an element of risk taking
There is a common belief that risk takers get the highest rewards. This has proven especially true for entrepreneurs who come up with completely new products or services to challenge traditional products or services that have been around for a while. This willingness to get out of comfort zones and explore virgin territory is part of what makes good entrepreneurs.
If you are thinking about starting or improving an already existing business, first, try and establish if you possess these essential skills.
We invite you to share with us your experiences and success stories in your business adventure.