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Entrepreneurs Need to Improve on These 5 Skills if they Want to Suceed

Many business owners have made their business-related plans for what they want to accomplish this year. However, to achieve these plans, one needs to invest in themselves and sharpen their skills. The following skills in particular are crucial to ensure success:

  • Communication

Whether it’s your employees or customers, there should always be fluid communication. It could be through phone, email, WhatsApp group, etc. Ensure there is a constant stream of communication, to ensure you can track whether either your employees are working accordingly or that your customers are happy with your product or service.

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Also it’s important to ensure that the message you send through your website and social-media profiles is the one you want.

Any business can go quickly south without proper communication, while effective communication can positively impact and grow a company.  Many experts and psychologists even believe that communication is the most important skill an entrepreneur can learn. For some, basing their entire career in communication is a viable option, and for entrepeneurs who want in, getting a masters of communication will greatly benefit many business endeavors. 

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Even if you’re not a skilled communicator, paying attention to how people react to you can clue you in to how well (or not) you’re reaching them. Getting puzzled looks whenever you speak? Ask the person you’re talking to if what you said makes sense, and give them the opportunity to ask for clarification.

  • Personal Branding

A sub-topic of communication, the new currency is your personal brand. This is the message about yourself, as gathered from your online presence, professional reputation, circle of influence and the trust you command from peers, followers, customers, employers and general public.

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For example, revisit Steve Job’s keynote speeches and marketing tag lines, you’ll immediately understand how he turned Apple into one of the world’s most valuable companies.

You need to learn how to grow a reputable brand and understand how to do that online. Branding starts with being active on social media, and is shaped through content publication, whether on or off your website. Poor content leads to negative branding, while quality content will bring more customers.

  • Financial Management

Your parents always told you to save a bit of what you have. This is something we’ve all heard from somewhere one point in our lives as we grew up. While growing your business this is also a necessary skill. Lack of the ability to manage finances exposes you to the risk of becoming unsustainable, consequences include bankruptcy, regret and probably needing to  go back to a full-time job.

Develop a plan, and discipline yourself regarding savings and investments.

· Sales

If you can’t sell your products or services, then you have no business to begin with. The one skill that keeps the lights on in your business is sales. Most occupations require the skills to sell, whether it’s an artist, a writer, etc. If you need funding, you have to sell your idea to investors.

If you run a business, you’re involved in sales. You do this while pitching your business, negotiating with a vendor, or persuading any partnership or anything really. Even if you have hired sales people, you’ll need to learn the skill yourself.

· Relationship Building

Probably the most fun part, possibly. Get out there and make friends and beneficial relationships. In our highly connected world, ‘introverts’ may never get far. You’ll need people to make progress. From offering referrals, to giving endorsements, recommendations, your network of people the your most valuable resource; your network is your net worth.


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