Key Skills of an Entrepreneur

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What skills do you have that sets you apart from other candidates? Tell me why you are the best person for this job? How do you compare yourself to others who might be interested in this role?

Like everyone who has had a job to do, an entrepreneur needs certain skills to get the job done effectively. The term skill encompasses the concept of competence, proficiency, attributes and the ability to do something well. Skills are closely connected to knowledge, expertise, and capability. In some instances, skills are natural talents that have been developed and honed into skill sets. They are nurtured over time and through effort spent on learning, improving and accomplishing specific tasks or behaviors.

While there is no formula for being a successful entrepreneur, there are certain skills that are associated with entrepreneurial success. A balanced mix of skills that enable the tackling of issues, to brave new ideas and to improve our way of living. A diverse set of skills due to the many roles which an entrepreneur must undertake. The lists are endless, to be a successful entrepreneur you must be resilient, focused, open-minded, competitive, determined and so much more. All of them can be grouped into skill sets, soft skills which are described as personal skills and hard skills like business skills. Hard skills are learned in the classroom, training and on the job, they are demonstrated through abilities such as typing, writing, math and the use of software programs.

Personal skills are what we all possess, it is how they develop through the knowledge that molds them into an entrepreneurial skill set. Cognitive skills that include creative thinking, formulation, and problem-solving, decision making and initiative. Social and relational skills that include communication skills, the capacity for teamwork and the ability to adapt to new situations. The list goes on with technical skills which are a combination of concepts such as working methods and processes. As well as management skills, which combine knowledge of potential systems that can be implemented into the company, the ability to make strategic decisions, capacity planning and setting strategic goals.

Entrepreneurship is an individual’s ability to turn problem-solving ideas into action. It is taking the initiative to use creative thinking, innovation, and risk-taking in order to naturally achieve objectives. It is being able to communicate the idea and having the right people in support. It is being able to take the idea and turn it into something more through management and strategies.

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Priyanka Singh Director Taj Pharma Group

For an entrepreneur to take their idea further they will need to rely upon their business skills. This requires an understanding of the tools needed for the creation and implementation of technological, organizational and market innovations. They must acquire skills in financial management, human resources, and marketing to make ensure the idea becomes a success.

Entrepreneurship is a choice consistent with attitudes, values, abilities, personality and personal preferences. A choice born from chance and made possible with the right skills. Skills that need to keep up with the inevitability of technological, organizational and market revolutions. To be able to grow as the idea grows, to be able to identify skill gaps determines the ability to execute plans successfully.

What skills do you have that sets you apart from others? Having the capacity to be open to the experiences that change abilities and behaviors. Being able to manage a variety of tasks and people. Being versed in a variety of fields and abilities that come from characteristic attitudes and the choice to acquire expertise in different fields. In short, being a jack of all trades to be a master of one.

Source: forbes