Entrepreneur Competences For Successful Business

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Undoubtedly, it would be easiest if there was a pattern to which one could compare and check to what extent one is suitable as an entrepreneur. For example, a test that would solve a result: in 73% you are a good entrepreneur. But unfortunately, there is no such pattern.

What’s more, it shouldn’t be at all. It is not that there is a specific set of features defined by experts that guarantee success in business. Success in business depends on many factors – not just the personality and competence of the business owner. You must remember that business activity always involves risk, but certain skills and predispositions, as well as the knowledge you have, can significantly help in achieving business success.

 

What competencies should an entrepreneur have?

The entrepreneur’s competences can be divided into so-called hard and soft, i.e. those that are closely related to running a business and those that support every kind of social and professional activity.

As you can see, these are universal features and skills. This does not mean, however, that each of us gets them bundled at birth. You can work on them just like any other. Below you can read more about each of these competencies and learn some techniques to develop them.

Communication

Certainly, it is extremely important in dealing with your company’s clients. At first, you may think that since you talk to many people every day, this competence is undoubtedly at a high level.

However, this is not just about the ability to talk. Communicability is the ability to reliably convey and receive information as well as the ability to establish and maintain proper interpersonal relationships.

It applies to both verbal communication and non-verbal communication (e.g. intonation, the pace of speech, tone of voice, facial expressions, body positioning, directing the gaze). The communicative person formulates information, actively listens (refers to the interlocutor’s statements, asks questions), knows how to logically argue.

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The most common communication problems are:

  • Strong focus on one’s speech and skipping the interlocutor,
  • Disturbing or interrupting the speech of another person,
  • Selective listening.

Here are some techniques that help you make contact with your interlocutor and listen to him actively:

Clarifying – asking questions to get a more complete picture of the situation or to clarify doubts.

Clarification – arranging and generalizing important elements of the interlocutor’s statement, often it serves as a summary; start example sentence: Does this mean that…

And these are the rules that facilitate non-verbal contact:

  • eye contact,
  • upright body posture
  • being close to another person, but without disturbing their intimate space,
  • the warm tone of voice, clear speech, without a whisper or scream.
  • Remember that, contrary to popular belief, lack of eye contact does not necessarily mean insincerity. It can be influenced by many factors together and separately, such as lack of confidence in a given situation, stress or sheer shyness.

Creativity

It is the ability to associate information from various areas, create new solutions, willingness to search for new opportunities, openness. By setting up your own business, you create something completely new. Not only do you have to think about what it will do, but also plan all aspects of its functioning – even the offer and how to reach customers with the offer. For this, creativity is undoubtedly needed. Regardless of whether you are opening a business whose service or goods are completely new on the market, or opening a hair salon then you need to think about how its offer will stand out from other salons in the area.

Motivation

It is the readiness to take specific actions, the driving force of our activity, the ability to set a goal and strive for it consistently. It is also the patience to wait for effects that do not want to come straight away.

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So, as a future entrepreneur, you must ask yourself why you want to become one. Sources of motivation can be internal – e.g. I always wanted to have my own business – or external – e.g. parents urge me to take up such activity.

Of course, these are just examples, your reasons for starting a business may be different. Generally, the most important thing is for you to identify them and think about whether they are strong enough motivation to start and maintain your business even in case of any adversity.

Critical Thinking

It is the ability to see threats and weaknesses both in the external environment and in oneself. It is not about witchcraft and predicting only the worst. The point is that a business, even if it has been well planned, is always associated with risk, but critical thinking allows some of the threats to anticipate and take action to prevent or minimize their effects.

Self-reliance

It means the ability to set goals, plan activities, organize work while taking full responsibility for its results. Independence is associated with a large self-awareness of your strengths and weaknesses. You have to remember that being alone at the helm, sailor, and ship has both good and less pleasant aspects.

It is particularly important to correctly define the goal in a way that is referred to as SMART. It is an abbreviation of English terms, which should be the goal: simple/specific, measurable, achievable, relevant, time defined, i.e. unambiguous, measurable, achievable, relevant, defined in time).

Remember that a badly defined goal can significantly reduce your motivation, prevent you from perceiving threats, and will not give you feedback if you are on the right course. Setting SMART goals is a significant facilitator in any type of business – including business.

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Ability to Solve Problems

It is the ability to analyze problems from different perspectives and find the best solutions. You must approach problems as challenges, not obstacles to achieving goals. You must also remember to rationally manage your resources and identify solutions that allow you to use them best. For example, in a situation where you have to work under time pressure, you will be looking for solutions that are not time-consuming.

Openness

This feature allows for easy and quick assimilation of various information (which does not mean that it is uncritical), perception of a given situation or problem from many perspectives, as well as conducive to the search for new solutions and actions, combined with the ability to solve problems. As an entrepreneur, if you are open-minded, it will be easier for you to face unexpected situations and various challenges.

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