You can succeed in your venture as an entrepreneur if you possess the five key entrepreneurial skills: Concentration, Organization, Discrimination, Innovation and Communication.
Concentration: This is nothing but single minded focus on a specific objective. If you are not focused, nothing will get done. You will have to put all your energy into getting your business on the road and work towards your goal dedicatedly. Plan three things to do everyday and ensure that they get done. If you are faced with a crisis, deal with it with determination.
Organize: If you are not organized, your business will flounder. You must have a system that works. Your accounts, for example must be up to date. Your order must be at hand. You must be able to take more orders and deliver them effectively and efficiently. All this comes under organization and you must be prepared to cope with and outdo competition.
Discrimination: This means that you have to differentiate between the important and the unimportant. Remember the Pareto’s 80/20 principle: 20 percent of anything will bring 80 percent of the results. You thus have to discriminate between the 20 and the 80 percent. Let’s take an example, suppose you have a team member who is in the 20 percent bracket and is causing you no ends of problems. The solution- let the person go. If you have an employee who brings lots of business, focus your energy on him/her.
Innovate: Think of ways in which you can better do things. This also suggests that you are constantly being creative, thinking of how to get new clients, beef up your internal and external operations.
Communicate: This means that you must be able to get your point of view across effectively. When it boils down to business, you can not afford to have people not listen to you. So, if you want your clients to really listen to you- convey it in the most effective manner possible.
How to become a successful entrepreneur?
