Entrepreneurs need to be highly educated. What knowledge (and courses) are needed?
At first it may seem strange that something like entrepreneurship can be taught. Often, being an entrepreneur seems like a personal initiative, something that one can only do for oneself.
However, in this world you can not do anything alone, and it’s no different when it comes to starting a business. In fact, since starting a business can be a big challenge, more outside help is required than most other life goals.
One of the great concerns of the venture is that it cannot be taught in the classroom.
The business and administration degrees, including the highly praised MBA, are all good choices for a potential entrepreneur.
But there are risks in the real world and they require a strength that is not possible to teach.
Many aspiring entrepreneurs are forced to ask themselves: “How can I know if I have what it takes?”
Here are some skills that every entrepreneur needs to be successful.
1. The ability to get funding
Companies require investment, plain and simple. It is necessary that there is capital for the operation of the business and, often, you will need to invest in yourself to be able to handle the tensions and the pressure.
This is not necessarily eleven. Companies require continuous investment, especially when they are starting. You will have to know how convincingly that your company is a reasonable risk for other people and companies (and for banks).
2. The ability to manage funds
Okay, now that you have the money you need, how do you use it? Where do you go each month? Are you able to consistently maintain income higher than expenses? If you cannot manage the money, then you cannot run a business.
3. The ability to be productive
This is complicated, since we all find our own unique ways of being productive. There are certain moments of the day, particular routines and tools that one finds throughout his career to increase productivity. And they will be necessary as you create your own plan for success.
4. The ability to stress relief
Productivity is one of the cornerstones of a successful business, but it is not healthy to be available 24/7. Stress is not funny, especially in such a high risk environment. It is important to learn how to take and move from failure to success as an entrepreneur.
5. The ability to make good hires
Having great people in your team will give your business new strengths and a good culture in the company will lead to more talented people who wish to join your project. Hiring the right people is an essential skill for success.
6. The ability to train staff
Sometimes it is not possible to get the perfect person. They can be very expensive profiles, or there is no one with the qualities you need in the job market. In these cases, you need to get the best person for the job, and then train them.
This will keep your business moving in the right direction, keep your staff happy and focused, and define clear lines for employees to know their roles.
7. The ability to identify strengths and weaknesses
As a business owner, you do not need to be perfect in everything, however, you need to know where your strengths and weaknesses lie. Understanding this will influence every decision you make and make decisions much more accurate.
8. The ability to manage personnel
Management is a whole branch of knowledge, but knowing how to effectively communicate, set clear objectives and be a good motivator can help massively with your business, especially from the beginning, where you will probably be managing everyone in the business.
9. The ability to understand SEO
Once again, when you start for the first time, you should understand almost all facets of the business, including marketing. By learning basic SEO (Search Engine Optimization) and digital marketing techniques, you can really give your business an advantage to find customers.
10. The ability to perform A / B tests
Although it is mainly a tool used to improve the effectiveness of websites and advertising, an A / B test (in which a process is executed in two different ways to understand which is the most effective) is also applicable to many areas of marketing and project management
11. The ability to effectively use social networks
With SEO, social networks should form a key part of the marketing strategy of almost any company. They are an effective way to communicate directly with customers and potential customers, as well as a cost-effective way to establish brand identity.
12. The ability to understand your customers
You can only communicate effectively with your clients if you understand what they need. This is due to the way you sell them, what you sell to them and how do you provide them. Investigate and ask questions to the potential audience so you can give them what they need.
13. The ability to detect new trends
Businesses move quickly, so you should be able to see the changes that are coming in your industry. Which is much easier to say than done. Stay up to date on businesses and changes in technology, as well as the news to see if something is bothering you, or if there is something you can get an advantage from.
14. The ability to close a sale
If you do not have much experience in sales, you should be eager to participate in a course or workshop to strengthen your skills. A single sale can be a roller coaster of challenges and you should know what to do every step of the way, especially when the end is in sight.
15. The ability to cope with failure
Success is not a straight path. You will face problems and challenges along the way and it is critical to know how to deal with them and move forward. No successful person ever gave up after a failure, remember that.
16. The ability to make friends with other entrepreneurs
Starting and maintaining your own business can sometimes be a lonely path, so try and find friendship with some who go through the same thing as you. They can give you advice and points of view and even offer a helping hand along the way.
17. The desire to improve
To create a change you will need motivation and for your business to be successful, you need to remember the reasons why you started. Either to have a positive impact on the world, your own personal success or to help others. Keeping focused and keeping your goal well defined can be what you need to get what you want.