Many of us want to become an entrepreneur. Starting your own business is one of the biggest dreams of our time. But how do you get to be a successful entrepreneur? To be an entrepreneur, you need to be an expert in the thing that make life difficult for you. That’s because every possible ambitious business is trying to fix things for other people. And the bigger and more original what you are trying to fix is, the more successful your business can be.
Here are 5 important skills every entrepreneur must have:
1. Skills to handle people
People are the backbone of every business. If you are not good with people, you cannot scale a business. There are top four people skills, that are necessary:
The first one is leadership. As a leader or entrepreneur, you need to stop ordering people. You need to roll up your sleeves and be able to get your hand dirty and lead from the front.
The second is empathy, just because you are the boss or co-founder, doesn’t mean you treat everyone around you as a joke, because they are also human beings, You need to ensure that the janitor or the person in your organisation is viewed equally by everyone else and treated equally by everyone else, just like your partners or clients.
The third is networking, networking isn’t just about exchanging cards and forgetting about it the next day. It’s about consistently being in touch with the people you have met and added value to them and helps them in the long run. It is about ensuring that you build a consistent relationship with them.
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2. Master your money
As an entrepreneur, you need to be fantastic with numbers and, at least in a country like India, you also need to know how taxation works. you need to know about it all, and if you don’t, at least hire a resource who knows and has expertise in that. Also, cash flow is very important for you to know. If you don’t have cash flow, you will not survive as a business. You need to know that money on the paper is not equivalent to money in the bank, so you need to keep ensuring that you consistently have capital in the bank.
3. Be a lifelong learner
You need to be a lifelong learner. This is an extremely dynamic world we live in and you need to ensure that you are up to date with all the trends. You need to keep upskilling yourself, but more so than that, you need to keep getting more experienced and older. You need to stop shutting yourself from all new perspectives and ideas just be curious.
Sales are one of the most important skills because it brings additional money into your company and you are going to need that money. So as entrepreneurs and a founder, you need to be extremely comfortable to keep doing cold outreach and cold calls however it will not be easy for you, you will face rejection every passing day. But because this company and or startup is yours, so you have to be the biggest cheerleader and if you don’t do it, no one else will do.
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5. Be a T-shaped individual
To become a successful entrepreneur, you need to be a T- shaped individual. What is T- shaped individual? Well, you can be master at one skill, but you need to be smart and quick at these skills. Now, sales can be a core skill set, but to run a company, you still needed to know all other aspects of running a business. Figure out a leave policy for your coworker. You need to understand what a non-solicitation clause is. You also need to understand GST, TDR, ITR and, while doing all this, you also have to figure out the brand strategy for your organisation.
By – Bharti Sharma