Developing Your Entrepreneurial Skills 

Entrepreneurial skills encompass a range of other abilities such as technical, leadership, management and creative thinking skills. While being an entrepreneur may be second nature for some, others have to work on developing their entrepreneurial skills. Entrepreneurial skills are ones that can be learned, practised and honed as you progress along your business journey. 

Here are some ways you can develop your entrepreneurial skills:

Don’t give up 

The life of an entrepreneur is never smooth-sailing, and it takes courage and resilience to press on in the face of challenges and setbacks. To build perseverance, set a goal or challenge that is meaningful and keep working towards it. Successful entrepreneurs view failure as a positive experience, something they can learn from and overcome.  

Seek out opportunities to lead 

One of the key roles of an entrepreneur is to be a leader. Look for opportunities to lead trade, community or volunteer activities. These activities will help to develop your leadership and teamwork abilities. 

Learn from top entrepreneurs 

Learn from the experiences of “rockstar” entrepreneurs in your field, and pick up tips on how they transformed their failures into successes or zeroed in on the right business idea. Read their books and articles and watch their talks and interviews for insight into their perspectives, thinking and mindsets.  

Learn from a mentor 

Having a mentor can be priceless in building your entrepreneurial skills. Mentors are not only sounding boards for your business ideas, but also your cheerleaders when you face challenges and setbacks. They may have also experienced the difficulties you’re facing, and can show you where you’ve gone wrong and how to bounce back. 

Adopt a learning mindset 

An entrepreneur should always have the hunger and passion to learn. If you are able to learn from any situation including failure, you are on the right track to becoming a successful entrepreneur. Failure can expand your knowledge and understanding of the business. You can enrol for both in-person and online courses to keep up with current trends and build key business skills.  

Hone your communication skills 

Communicating your business ideas, goals and passion in an engaging way is a key skill of a successful entrepreneur. An entrepreneur should be able to communicate effectively with employees, investors, customers, creditors, peers and mentors. You can enhance your in-person communication skills by meeting people, speaking publicly and attending networking events. You can also develop your online communication skills by actively participating on social media or writing for blogs.  

Solicit feedback 

Entrepreneurs should be able to receive feedback and act on them. One way to gather feedback is by conducting customer validation interviews with your target market. You can also solicit feedback from investors, more experienced entrepreneurs, employees, friends and family. Adopt their suggestions if they enhance the quality, value or user experience of your product. 

References 

Cote, Catherine. “Must-Have Entrepreneurial Skills For Aspiring Business Owners”. Posted August 25, 2020. https://online.hbs.edu/blog/post/entrepreneurial-skills 

Tarver, Evan. “5 Skills Every Entrepreneur Should Have”. Updated April 5, 2021. https://www.investopedia.com/articles/personal-finance/080615/5-skills-every-entrepreneur-needs.asp 

“7 Effective Ways to Build Entrepreneurial Skills”. (2019, May 24). https://www.slideshare.net/REVA_University/7-effective-ways-to-build-entrepreneurial-skills-171079561