Emily Pope is a content producer at General Assembly, an educational institution dedicated to creating a global community of individuals empowered to pursue work they love.
Were you the little girl selling lemonade from a stand on your cul-de-sac? The college kid buying and selling used textbooks to earn some extra weekend cash? Have you always dreamed of being your own boss? If you answered yes to any of these questions, you may have what it takes to become an entrepreneur.
But even a natural-born entrepreneur must hone in on certain skills to transform their pipe dream into a lucrative reality. Here are 6 skills that every entrepreneur needs to start (and maintain) a thriving business.
1. The Ability to Sell
Whether you’re selling an idea to investors, pitching your business to a new client, or simply explaining what you do at a networking event, a great entrepreneur knows exactly how to sell their business; beyond that, they have the resources and ability to back it up.
If you have a great idea (and the know-how to deliver), but aren’t a natural-born salesperson, there are resources that can help. Oren Klaff, a former investment banker, admits he’s “not a natural” when it comes to raising money; however, he still manages to raise about $2 million a week. He outlines a 6-step formula in his book, “Pitch Anything,” that’s sure to give you the ability you need to sell your idea to anyone, anywhere.
2. The Courage to Take Risks
Being courageous isn’t about being fearless; it’s about being afraid of something, and doing it anyway. As an entrepreneur you are going to have to put everything on the line: your reputation, your financial security, and your work-life balance. But with high-risk comes high-reward, and an entrepreneur knows that in order to come out on top, you have to make yourself vulnerable.
This is easier said then done, but you can eliminate some risk by using tried and true decision-making methods when you come to a fork in the road.
3. The Wherewithal to Take Care Of Yourself
All of that stress can lead to some pretty unhealthy coping mechanism. But why spend all of your time building a fruitful business if you aren’t around to enjoy it? Try dedicating yourself to some healthy practices such as meditation, healthy eating habits, or exercise to help you deal with the stress that comes with laying it all on the line.
4. The Propensity To Predict
A strong business leader understands what their customer needs before the customer does. They are able to predict the next big trend in their industry, whether it’s fashion, technology, or finance, using not only their instinct, but also well-researched data and a deep understanding of the business landscape.
Start by listening to the consumer; they may not know the solution, but they can help identify gaps in your chosen industry– giving you the edge you need to develop a truly creative solution.
5. The Will To Persist
“Don’t worry about failure; you only have to be right once.” – Drew Houston, Dropbox.
If you take a close look at any popular entrepreneur’s success story, you’ll probably discover that it took years and years of failure before they developed one idea that really stuck. An entrepreneur knows that changing the status quo of a given industry takes time and iteration. If you’re looking to build something that is truly disruptive, you must be able to accept failure, dust yourself off, and start again.
6. The Proficiencies To Back It Up
Finally, an entrepreneur must be an expert in his or her field; and you can’t fake expertise. Learn everything you can about the topic that drives you; take a class, get work experience, and heed advice from other experts. Whatever you do, never stop asking, “How can we do better?”
General Assembly offers full-time immersive programs, part-time courses, and classes and workshops on the most relevant skills of the 21st century – from web development and user experience design, to business fundamentals, data science, product management, and digital marketing.
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