Like me, you’ve probably heard this before...that not everyone is cut out to be an entrepreneur. That some people are born to be employers, and the rest to be employees. Perhaps it’s true, perhaps it’s not. Maybe, entrepreneurs are made and not born. Maybe, failure is really just a bump on your road to success. Maybe you just need to fight a little harder than you have been to get to where you want to be.
My experience as a coach has seen me help women successfully transition from the corporate world to the start-up world, or from an employee to an entrepreneur. As my clients transition, it becomes more and more evident that succeeding in entrepreneurship requires you to nurture certain qualities and acquire certain skills.
1. Effective communication
Whether you are a solopreneur or a leader of a multinational, you need to be able to pass your message across in a way that can be understood by the recipient. Communication does not mean public speaking alone. You need to be able to communicate effectively in a one-to-one conversation or in a group, face-to-face or online, writing on social media and on email...name it! You need to be able to articulate the value that you and your business bring to all the relevant stakeholders - employees, investors, customers, creditors, peers, and mentors etc.
2. Strategic thinking
Sometimes your determination and self drive can turn your business idea into a thriving business. However, as it grows, the actions and decisions you make with regard to your business need to be strategic. You need to be able to clearly identify your long term and short term goals, then make sound decisions and take calculated risks that get you there.
You can use my free SWOT Analysis template to help you identify and make calculated decisions.
3. Self drive and focus
The entrepreneurship journey is characterised by highs and lows. Furthermore, it’s tempting to want to try your hand at everything when you get into business. It’s very easy to get lost in a sea of ideas, opportunities and ideas without a vision. As much as possible, try to be unwavered and hone your ideas to match your vision.
4. Ability to learn
As I mentioned earlier, your entrepreneurial journey will be full of highs and lows, profits and losses - it’s inevitable. Be sure to take notes along the way. Grow from your mistakes and celebrate your successes. Figure out how you can eliminate your past mistakes from your processes and how you can make your successes even stronger.
Remember, your learning should not just be as a result of your own experiences. Interact with other entrepreneurs and business people. Learn from their success and failures too. Every opportunity in your business journey, good or bad, is a learning opportunity. You can use my free ‘Lessons learned log’ to keep a record of what you learn so that as you scale your business, you can always prevent history from repeating itself by sharing your knowledge.
5. Marketing
Your ability to communicate effectively and market go hand in hand. As an entrepreneur, you need to know how to market your ideas, products and services to all the stakeholders involved in your line of business. You will need to understand your value proposition and be able to relay that to your customers and employees.
Best wishes,
Samantha.
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