5 Learned Skills of Successful Entrepreneurs
Diligence - Diligence is defined in the dictionary as "persevering". By itself, this means that an entrepreneur never gives up. In many cases, we identify people as "diligent" meaning that they are willing to go the extra mile when needed to accomplish a task. Diligence when applied to an entrepreneur means that they are not willing to sacrifice their dreams of owning their own business simply because they run into hard times or run into road blocks. Entrepeneurs know what they want, know what they expect and they are determined to get there.
Persistence - Simply put, "the quality or state of being persistent..." In some ways, this skill is similar to the trait of diligence. Entrepreneurs who know they are capable of success don't give up! Thomas Edison was right when he said, “Many of life’s failures are people who did not realize how close they were to success when they gave up." For entrepreneurs, they are willing to sacrifice, willing to overcome failure and willing to continue to work towards their end goal. While it is necessary to be practical, those who give up too soon are likely to fail. The road to success as an entrepreneur is a bumpy one, those who are willing to deal with obstacles in a practical manner can find success.
Acumen - Some people think that acumen is an inherent skills. However, one dictionary definition of acumen is "keenness and depth of perception, discernment, or discrimination especially in practical matters ". For the entrepreneur, this means that they have good common sense and they are willing to look at the bigger picture. While a business may start based on a single idea, entrepreneurs must have the insight to determine when they need to change direction. Many entrepreneurs will engage with professionals in their field to help them keep up to date with changes in their industry. This allows them to change course when necessary.
Communication - The ability to share information with clients, employees and business partners cannot be stressed enough. Communication is crucial to success in businesses of all sizes. One dictionary definition of communication is "a process by which information is exchanged between individuals through a common system of symbols, signs, or behavior...." which provides a roadmap for learning this crucial skill. The process of communicating starts early in the business cycle, the entrepreneur must be able to share their vision, share their goals and be able to successfully communicate these to others. In some cases, this is accomplished through a business plan, while in other cases, it may be sharing information with family members.
Independence - Perhaps one of the most critical skill that will help an entrepreneur succeed is independence. Chances are that competitor are not going to be willing to "share" their secrets. In many cases, it is up to the entrepreneur to "sink or swim" on their own. This requires not only independence but also a willingness to remain strong in the face of adversity. One dictionary definition of independence is "not subject to control by others...". Entrepeneurs allow themselves to be self-directed, are capable of assessing risk and reward on their own and are willing to go it alone when necessary.