Coral Hall

Profesora de inglés

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The Skill Set of an Entrepreneur


Do entrepreneurs learn the skills they need to be successful or is it the character traits or qualities that they possess?


Whether you're a self-employed or freelance artist or sales person; company or employee; applying the knowledge of business administration skills will enhance employability, management and entrepreneurial abilities. These skills are relevant in any work place or business venture, regarding team interaction, undertaking tasks and managing projects. Successful people understand that growth and self-development is coheisive with self-improvement and attaing goals. They also understand this is a continuos learning process.

 

"Learning and innovation go hand in hand. The arrogance of success is to think that what you did yesterday will be sufficient fr tomorrow". William Pollard


Entrepreneurial types of people tend to be proactive; decisive; have high energy levels; self motivated; have vision and flare; maybe risk takers; innovative and oportunistic. Having these traits or characteristics may increase employability, however to have these traits and the business knowledge to support them will enhance employability and the ability to take better decisions and calculated risks. Employers may highly regard or seek a candidate with entrepreneurial abilites, who can adapt to new challenges for their business. Subsequently, potential employers may see it as financially beneficial to employ a candidate with business administration or management skills. These people tend to be proactive, rather than reactive and more decisive than other people. Although when managing a team member with entrepreneurial traits, regular appraisals and target setting should be applied, as they are usually rewarded by achievement and if they do not achieve, they may lose motivation and productivity.

 

"Passion, creativity and resilience are the most crucial skills in business. If you've got those, you're ready to embark on the journey". Jo Malone


Fundamental education or knowledge of business skills compliments the passion and business idea:
  • Communication
  • Planning
  • Collaboration
  • Process and operational management
  • Scheduling
  • Coordination
  • Budgeting and financial management
  • Insurance, taxes and legislation
  • Priorotising
  • Marketing
  • Exit strategies
Experience, the combination of core business skills, dedication and a determination to achieve is the entrepreneurial recepie for success.
An entrepreneur usually makes profit via an untapped market, using innovation to exploit or create change. They do this by shifting economic resources from an area of low productivity and greater yeild, accepting a high degree of risk and uncertainty in the process. However for some, it is a product or invention that satisfies a current need of a market or a new creative idea.


"Entrepreneurship is about turning what excites you in life into capital, so that you can do more of it and move forward with it". Sir Richard Branson


For this reason, we normally regard entrepreneurs as risk-takers, however many experts consider entrepreneurs as risk-avoiders, not risk-takers; that is because they tend not to see risks the same as others might and the stregnth of the idea outweighs them or causes them to oversee risks.

In all my past business ventures, I never considered the 'risks' I was taking, beacuse I did not see them as 'risks'. My success in these projects was due to the fact that I had sufficient business knowledge to be able to forcast possible outcomes and calculate major possiblities; both positive and problematic. In this way, the problems are avoidable and the risk is lessened. There are always challenges, although I learned from each one and developed new strategies to overcome them and to apply to future projects and decisions.
 

"...typically entrepreneurs do not see failure as defeat but 'as stepping stones along the path of success'". Zimmer & Scarborough









 
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