10 Successful Entrepreneur Skills Needs (Part 2)
#6 Cross-Cultural Skills
People witness how business now is more interconnected and interdependent than 20 years ago. More companies, such as tourism industries are hiring more people from abroad.
Entrepreneurs need to be ready not only to learn foreign languages but also familiar with the cultures. These are among cross-cultural skills to help to engage effectively in a business process with potential business partners or customers abroad.
#7 Digital Literacy
This is one of the most important skills you need to have as an entrepreneur. Though it doesn’t mean you have to be an expert in IT.
Knowing how to optimize a website, blog or social media to reach targeted customers or expanding the quality of the traffic takes a digital knowledge such as maximizing SEO (search engine optimization), or web design.
#8 Relationship Building
Learn how to build a relationship with your business environment is essential in growing and maintaining the business progress. A skill that creatively collaborating with other business community not only enlarge your network but also another way to obtain a creative idea.
You can receive feedback from the customers by having a relationship with them. This skill is also important particularly in value creation and delivery as well as marketing.
#9 Financial Management
This is the ability to make a thorough financial plan, wealth management, fundraising strategies, and investment plan that will serve your business needs more efficient and effective.
The most important thing about financial management is how you can keep the money flowing into and out of your business.
It is a skill on how you can allocate the money wisely to support the critical business elements namely value creation, marketing, sales, and value delivery.
#10 Risk Management
There are times when a business experiences a storm, stagnation or in a low state of growth.
Unpredictable events or changes such as a sudden resignation of staff, economic pitfalls, or sudden cancellation from a business partner can affect the business process. In times as such people tend to panic and respond impulsively or reactively.
Therefore, the ability to prepare the alternatives, solutions, and budget to those events will keep the business run smoothly during the setback and in the long run.
It is also good to prepare yourselves mentally to calmly face the unpredictable situations that might come.
These are 10 skills that you could obtain by yourselves or by hiring other people who master these skills. If you have other skills that you think are important for entrepreneurs, please share your opinion in the comment box below.
There are new challenges and opportunities every entrepreneur will face in this new era of entrepreneurship. That’s why they need a certain set of skills to deal with the business environment that’s always changing.
After reading this article, hopefully, you could take some small steps on developing skills that will serve your business goals best or help you start one.
Do not hesitate to share it with other entrepreneurs who want to obtain more skills in business. By doing this, you help them to prepare for any opportunity in their business.
Which one is your preferred skill or that you need to develop in the near future?
- Ryan Robinson, June 2nd, 2019. The Skills of an Entrepreneur to Be Successful. Thebalancemb.com. https://bit.ly/2X430OT.
- Josh Kaufman. 2010. The Personal MBA: Master the Art of Business. New York: Penguin Group.
- Daniel Kahneman. 2012. Thinking fast and slow. New York: Farrar, Straus and Giroux.
- Admin. Digitizing Entrepreneurship For Impact. Weforum.org. https://bit.ly/2Keismt
- Admin. 10 Skills You’ll Need To Survive The Rise Of Automation. Weforum.org. https://bit.ly/375d13c
- Successful Entrepreneur – https://bit.ly/38zRss7