So, you want to be an entrepreneur? That's awesome! Starting your own business can be an exciting and rewarding journey. But to really succeed, there are some key skills you’ll need to develop. Let’s break down the essential skills every entrepreneur should have, in a way that’s easy to understand and totally relatable.
Vision and Big Picture Thinking
First things first, you need to have a clear vision. This means knowing what you want your business to achieve in the long run. Think of it as you putting in an address in Google Maps for a road trip. You need to know your destination and the best route to get there. Big-picture thinking helps you plan your steps and stay focused on your goals. For this I suggest creating a vision board and going to my yearly Vision Board Parties 🎉 . (Subscribe to know when the next party is)
Money Management
Understanding money is super important for any entrepreneur (and for any adult for that matter). You don’t need to be a math genius, but you should know how to budget, plan your finances, and manage your cash flow. This means keeping track of what you earn and what you spend, so you can make smart financial decisions and keep your business running smoothly. Messing up the money will mess up the business!
Marketing and Selling
No matter what your business is, you need to know how to market and sell your product or service. Marketing is all about reaching your customers where they're at and telling them why they need what you’re offering. Selling, on the other hand, is about closing the deal and making sure they actually buy it. The selling part seems to scare people the most but that can either come from your lack of knowledge on the products/services and its benefits. Good marketing and sales skills will help you grow your business.
Leadership and Teamwork
As your business grows, you’ll need to lead a team. I'll also tell you this, if you're one of those people who feel like no one can do the job as good as you, get the hell off your high horse. The goal is to replace you so you can do other things! Good leadership means inspiring and motivating your team, solving problems, and creating a positive work environment. Teamwork is about hiring the right people, delegating tasks, and making sure everyone works well together. Remember, a strong team can make a huge difference in your business’s success. Don't hire fast, take your time and get who you need.
Adaptability and Problem-Solving
The business world is always changing, so you need to be adaptable. This means being open to change and finding ways to improve when things don’t go as planned. Problem-solving is about figuring out solutions when issues arise. These skills will help you navigate challenges and seize new opportunities. Being in the Army, I know this all too well. Plans can change in the blink of an eye! Business is the same. The trends, the market, and the customers all change over time at different speeds.
Networking and Building Relationships
I love networking. I mean, I LOVE NETWORKING. It's something about Networking is all about making connections with other people in your industry. This can lead to new opportunities, partnerships, and resources. Building relationships goes beyond just meeting people; it’s about maintaining those connections and creating win-win situations. A strong network can support you and open doors for your business. I've created so many deals and connection with people it ain't even funny.
Time Management and Productivity
Time is one of your most valuable resources. Good time management means prioritizing tasks, setting goals, and avoiding distractions. Productivity is about working efficiently and getting the most out of your time. Tools like to-do lists, calendars, and productivity apps can help you stay organized and focused. I'm a calendar and to-do list queen. I like to use the peel and stick dry erase schedulers and calendars. It helps view see everything I have going on in the present and in the future. An added benefit is that I can also See what I've done. Here's some that I use.
Emotional Intelligence
Emotional intelligence (EI) is the ability to understand and manage your own emotions and those of others. High EI helps you build strong relationships, lead teams effectively, and handle stress. It involves empathy, self-awareness, and good communication skills, all of which are crucial for creating a positive work environment. If you're the type of person that has to sit in the corner and have a good cry when something doesn't go your way or you make way too many decisions just because you're in a good mood, you need to harness the power of EI.
Tech Skills
In today’s digital world, having basic tech skills is super helpful. This could mean knowing how to use software tools, understanding web development, or even basic data analysis. Tech skills can make your business more efficient and keep you competitive. The top three you should know is: how to build a website/landing page, accounting software, and accepting mobile payments outside of cashapp.
Customer Focus
Finally, always keep your customers in mind. Understand their needs, provide great service, and constantly seek feedback to improve your offerings. A customer-focused approach will drive satisfaction and loyalty, leading to positive word-of-mouth and business growth. I'm noticing a lot of business owners are feeling entitled these day. Stop it. No one is obligated to give you their business. It is a blessing and you need to treat them as such. Also, customer service is extended to those who want to work with/for you. If you're nasty to them, don't be surprised if they leave a 1 ⭐️ review on your google business page. (I've seen it happen!)
Developing these essential skills can make your entrepreneurial journey smoother and more successful. It takes time and effort, but continuous learning and improvement are key (that's why you keep coming back to me, right 😏. The best entrepreneurs are always growing, adapting, and pushing boundaries. Embrace these skills, and you’ll be well on your way to building a successful business.
What do you think? Share your thoughts or ask questions in the comments below. Let’s keep the conversation going and help each other succeed!
Love,
Deanna aka Your Business Bestie
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