Entrepreneur Skills

It takes a lot of commitment and determination to be a business owner. Not everyone possesses the qualities to succeed at running their own company. One of the most common reasons why businesses fail is because the owner does not have business experience or knowledge in the field in which they have entered.

Before embarking on a new venture, it is a good idea to assess whether you have the right talents and characteristics to successfully run a business of any sort.

Black Enterprise: Guide to Starting Your Own Business by Wendy Beech provides readers with certain skills and personal qualities that entrepreneurs should possess. They include:

Business experience – Having business experience is not a prerequisite to starting your own company. Whether it is in web design, customer service, accounting, or market research, majority of soon-to-be business owners have some knowledge and experience in the field they hope to enter.
Leadership skills – There is a big difference between being a good manager and being a strong leader. As an entrepreneur, you will be responsible for handling problems, giving guidance and support for your staff, and running your business.
A sacrificial attitude – Becoming an entrepreneur requires working up to ten or even twelve hours, seven days a week. You will have to sacrifice a regular paycheck and free time when operating your own business.
Organizational skills – Organization is essential to building a successful business. You will have to keep up with everything that goes in your operation.
Strong interpersonal skills – To be successful, you must be able to work well with a variety of people and personalities. You will have to deal with customers, employees, suppliers, accountants, lawyers, and so on.

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