Essential Entrepreneurial Skills


You will need a variety of skills to succeed as an entrepreneur. Some of those skills will take years to develop, where others may come second nature to you. Take a few minutes to reflect on your existing skill sets and explore ways to sharpen those where you may need a little more work.

Good Time management skills. I use my time wisely and avoid wasting time unnecessarily. I know what to prioritize and stay focused. I maintain a good balance between work and leisure time.

Delegation skills. I know whom I can trust to complete a task. I have no problem relinquishing control of minor tasks, so I can concentrate on the things that matter the most.

Sales skills. I am very knowledgeable about my products and services. I can thoroughly explain the benefits of these items to any potential customer. I have excellent persuasive skills that I am able to use to influence my customers and employees.

Excellent Communication skills. I effectively communicate my vision and expectations clearly to my staff and customers. I understand that when speaking with someone, I should listen to understand and not just to respond. Many problems can be avoided if everyone took that approach.

Laser Focus. I have the ability to remain laser focused on tasks at hand and pay attention to the small details. I quickly deal with any distractions that may arise throughout the day.

Health and Stamina. I have the energy and endurance necessary to be successful. I can persevere physically and emotionally in order to get the job done.

Troubleshooting. It is very important to be able to troubleshoot and overcome obstacles. I know how to figure out what’s wrong and how to fix it or find someone who can fix it for me. I can stay calm under pressure, not stress out, and find workable solutions to any problems that may come up.

Forecast. I have the ability to look ahead. I follow my industry news closely to always foresee the future of my marketplace and any potential obstacles my business may face.

Daily improvement. I review each day, so I can be even more effective tomorrow. I avoid repeating my mistakes and expect the same from my employees. We’re all striving to get better each day.

Human Resources. My new employees are a good fit and understand my company's vision and culture. I hire reliable people that can get along with others and get the job done.

Financial management. I watch my money closely. I use company funds to grow my company. I avoid spending money I don’t need to spend. I keep a close eye on my expenses.

Networking. I network not only to reach new customers, but to establish relationships with others in my field. I stay aware of the latest trends and developments.

How did you do? Review the list carefully, be honest with yourself and then make a plan to develop your weaker skills. By improving those weaker skill sets, you are putting yourself in a position to succeed where others fall short!