Showing posts with label character traits of entrepreneurs. Show all posts
Showing posts with label character traits of entrepreneurs. Show all posts

Wednesday, 25 February 2015

How To Develop The Soft Skills Of The Successful Entrepreneur

Written by Lindsay Broder - The Occupreneur Coach

Can you really teach entrepreneurship? That question gets asked a lot, both in business and academia. Some claim you can learn the skills necessary to be a successful entrepreneur. Others say you either have “it” or you don’t, whatever "it" is.
But I think we're asking the wrong question. It's not about whether you can teach skills to be a successful entrepreneur, but rather what skills need to be taught or learned. For instance, when it comes to the hard skills, anyone can learn them, either in a classroom or on the job. These include things like finance and accounting or branding and marketing or legal. They are the skills that lead to specific action… the “doing” of running your business.
But, more important are the soft skills. These are trickier to learn. They don't come in a textbook or a webinar. They don't even necessarily come from working hard at your job. They come from inside you.
Rather than be taught them, you need to unlock them and foster them. 
Fostering (or "learning") soft skills that don’t come naturally to you might seem challenging and even very uncomfortable. But know that you have more soft skills available to you than you’re currently using. Perhaps you’ve never considered some of them. Or maybe you’ve not had the opportunity to work with a mentor or boss to show you by example. But if you’re willing to look inside yourself and you’re open to making significant changes, you can learn to access and use the many soft skills available to you within yourself. Here are a few examples:

Drive, Ambition and Stamina.

Let’s face it -- being an entrepreneur is really hard at times. You have to push yourself every day to be better when things aren’t going your way. It’s a major effort to keep going when you feel like nothing is right. But that’s why drive, ambition and stamina are necessary. We all have it. We’re born with it. Some have more than others, but you can strengthen yours by looking for inspiration from those with a ton of it and following their lead. It’s like a muscle that if you exercise regularly, it will become stronger.

The Temperament to Manage Adversity.

It’s no secret that entrepreneurship is full of adversity. That’s why people with unbelievable ideas never take the plunge into the entrepreneurial sea. Some entrepreneurs have such trouble managing tough times that they go grey, gain weight, lose their hair and age 20 years from the experience. Then there are those who’ve never looked or felt better from it. These are the people who approach entrepreneurship with joy and who remain calm even in the worst of situations. They don’t let the worst of it get the best of them. While it looks like some people are just born with this kind of temperament, I can tell you that I’ve known many people who have learned how to be this way as they’ve grown as people and as entrepreneurs. They learned to let go and have faith that everything will be OK.
The Capacity to Embrace Change.
If you don’t evolve with the world around you, specifically with your customers’ ever-changing needs, your success will be short-lived. Most people hit a ceiling on growth and become stuck in their ways. Nothing can be more detrimental to running a business. If this is something you struggle with, consider forcing yourself to engage in one activity every day or every week that you’ve never done before that kicks you out of your comfort zone. Or perhaps try taking a new path to work, stopping at a new coffee shop or trying a new food that you’ve never had before.

A Ton of Chutzpah.

You’ve heard the term, “Fake it til you make it?" Some people are just really good at this. We usually call them bullshit artists. But even if you think you’re well prepared for your entrepreneurial journey, you’ll more than likely uncover a few holes that you’ll have to mend on the go. At some point you’ll likely find yourself pitching for business that you are pretty sure is out of your league or you might have to pull out all the stops and get in front of people to sell your business who might expect you to be much more experienced than you are. I never advocate for lying about anything but there is a way to message your business that isn’t lying but makes you sound pretty darn good! But if you aren’t willing to fake it, you’ll never make it or it will take you a much longer time to.

Monday, 26 January 2015

What Traits Do You Need to Start Your Own Small Business ?


Jeff Burnham is a freelancer and business owner who writes about careers, personal finance,
and tips for making money on the side.


For the longest time, I thought that the best path to career and financial success was to get in with a company and slowly but surely climb the corporate ladder. I did that in several industries, and although I did achieve some successes, I never was in a position that I truly enjoyed. Then it occurred to me that I’ll never get rich by working for someone else. Although I don’t consider myself to be wealthy financially, I have launched several small businesses and earn a comfortable living with a lot of flexibility.
When it comes to starting your own venture, there are certain character traits that are essential. Here are five traits you need to successfully start your own small business:

1. Work Ethic

You’re going to need a solid work ethic for two reasons: First, if you’re smart, you’ll begin your small business while still working at your current career. That takes a ton of pressure off you in the beginning regarding revenue generation. Many businesses take some time to turn a profit, so it helps to keep cash flow coming in from another source until that happens. And second, starting a small business requires a ton of hard work – regardless of any overnight Internet sensation success stories you may have read about.

2. Time Management

Again, if you start your biz while at your current job, you’ll need to maximize each and every minute of your working day. Create a to-do list, cut off all Internet distractions such as social media or fantasy sports leagues, and take care of personal errands like grocery shopping or dry cleaning on your daily trek to and from work. Proper time management is crucial, as every minute you can free up is one more minute you can devote to your small business.

3. Passion

If you don’t truly believe in what you’re doing, your chances of success are minimized. My passion is helping others with personal finance issues (among other things), but if you’re not supporting a cause you truly feel enthusiastic about, you’ll have a hard time staying motivated. Often, the joy it brings you is the only thing you’ll have to fall back on when times get hard.

4. Ingenuity and Flexibility

Being creative and ingenious are also parts of small business success. You might think about starting a landscaping business, but later find that organic gardening is more popular than landscaping with ornamentals. If you thought your ticket to success was social media marketing, but that hasn’t worked out, you might have to branch out into other advertising options. Being willing and able to change is a key asset in small business success.

5. Perseverance

Unless you’re extremely lucky and find success rather early on, you’ll need to be patient. I wrote a book about personal finance and paid for it to be published myself, yet never generated much revenue. However, about six months following publication, I was recognized and eventually hired by a more popular personal finance website – and that’s where I draw the majority of my income today. Realize that patience is a virtue when it comes to launching your small business idea.

If you’ve thought about launching your own small business, but have neither the funds nor the time to devote to it, consider using Fiverr® to get yourself out of the starting blocks. It’s a stellar strategy if you want to get into small business ownership while still working at a traditional career, and you never know what might come of it. Although there are certainly other methods to small business success, don’t discount Fiverr as a way to break into the world of entrepreneurship.