The studies have concluded and the results are in; Entrepreneurs experience the most job satisfaction out of professionals.
6 skills every young entrepreneur needs to succeed
It’s hardly surprising, given that we tend to start businesses for and about topics and things we’re passionate about.
But just because we get the most satisfaction out of our jobs doesn’t mean that it isn’t stressful at times.
Especially in the beginning, you can’t guarantee when your next paycheck will be, or what the amount will be.
This is definitely one of those fields where learning is the best teacher.
You will learn everything you need to know to run both a more successful business as well as be a strong leader.
But what about before you encounter the problems that will teach you? What kind of skills will prepare you to deal with anything that gets thrown your way?
No worries – we got you covered!
1. Strength & resilience
This is debatably going to be the most important skill set you can learn.
You will face nothing short of a crucible when you decide to take on owning and operating your own business.
You will face obstacles. Things will go wrong. You will find all the failures and holes in your plans.
You’re going to want to give up. Don’t.
Now is the time to learn the subtle and often overlooked skill of resilience.
Now is the time to be strong. Failures aren’t “failures”, they’re learning opportunities.
2. Time management
If you’re the type who’s chronically heading out the door 5 minutes after you’re supposed to be at a meeting, if you tend to sleep in and tell everyone that traffic was terrible, it’s time for you to get your time management under control.
You aren’t going to just be responsible for your own time, but for others’, as well.
You will be setting and sticking to your schedule as well as your employees’ schedules.
This is crucial for keeping a good workflow as well as encouraging trust from your employees.
But this isn’t just about making time to work and prioritizing your work, it’s about scheduling out free time to relax, as well.
3. Management & acquisition of employees
You’re going to want your business to grow, and you’re going to want help growing it.
True, you can probably do most of it yourself, but the stress of it and the lack of free time is going to get to you eventually.
This is part of your business is going to require something far beyond people skills. (Which, if you have people skills – awesome! If not, get them.)
You’re going to want to be able to go over people’s’ credentials, make sure they’re a good fit, and ensure that they’ll have skin the game, as well.
When your business is still in its infancy, a few bad hires can tank the entire thing.
You have virtually no room for mess ups here.
You must hire great people to succeed.
4. Budgeting & accounting
Of course, money is important and you should strive to make your business profitable, however, it’s absolutely vital to new organizations.
If you can’t keep track of your money and manage it effectively, you will never see your business off the ground.
Even having a very basic concept of budgeting and accounting will set you on the right path.
You’ll also need to know how to get investors, raise money, and get bank loans.
5. Digital marketing
Yeah, you’re probably sick of hearing about digital marketing, but it’s more than just a buzzword.
Digital marketing includes everything from knowing and utilizing SEO, building a user-friendly and effective website, running digital marketing campaigns, utilizing social media, and being just a bit tech savvy.
In the 21st century, if you are not present online, you don’t have a business.
It may sound like a chore, but a lot of this is easy to outsource once you have a clear vision and great staff.
Unlike a lot of the other skills on this list, this falls solely on you.
In the beginning, if at no other point, you have to know how to sell.
If you can’t sell your own service or product, you simply won’t cut it as an entrepreneur.
You will have to learn to earn and balance both personal connections, revolving client base, and customer satisfaction. This is because, in the beginning, most of your sales will come from word-of-mouth tactics.
Make sure that those words are good ones. If you’re nervous about this, consider using a service such as Salesforce technical development bootcamp, where you can learn this skill even more quickly and see your business grow faster.
To sum up
These aren’t a guarantee that you’ll be successful right off the bat.
These skills will help you learn more quickly and efficiently and give you a higher chance at success when you make good use of them.
Still, there is nothing better than some good old-fashioned hands-on experience and some tough learning to get your business in good shape.
This is the best way to learn what areas of your plan and goals are weak and make them strong.