6 skills every successful entrepreneur must learn

6 skills every successful entrepreneur must learn

Entrepreneurs are made, not born. Entrepreneurship requires all-encompassing skills and abilities that other occupations do not even touch upon. Engineers draft plans for a new project, then pass the designs to others who will make it a reality. But for an entrepreneur, it’s different. Every aspect of a new venture lies in the hands of the entrepreneur.
 They need to know everything about the business and take the roll as a visionary, project manager, salesperson and more. This doesn’t mean that all entrepreneurs need to get an MBA to learn these skills.  In fact, a majority didn’t even have entrepreneurial aspirations while attending school. Here are six attributes that every entrepreneur must learn along the journey to success.

 1. Embrace failure Entrepreneurs will fail — 
This more times than they will care to count. They accept failure as a learning opportunity and forge ahead. A team of researchers from Duke University and the University of Southern California surveryed 549 successful company founders. These entrepreneurs listed their ability to learn from previous failures an important factor in their success. Catastrophes happen, disappointments are part of regular activities and the faster entrepreneurs can accept it and move past it, the better they will be at learning from their mistakes. Reaching overnight success is rare. Many people aim for instant success because they hear about it in the media and they believe that all it takes is money and the desire to put up a business. What they often fail to realize is that other’s success came from failures and lessons learned 10 years before. Entrepreneurs know how to pause along the way and take steps to make a strategy. The successful ones have done their due diligence. They’ve worked hard and learned valuable lessons from failures that helped them on their way to the top. Entrepreneurs are resilient. They keep going when the outlook is bleak.  They sail a ship through the ups and downs of a business storm. They have a vision and they will continue until that vision becomes a reality.

 2. Masters of delegation
Ideas don’t build a business, people do. Entrepreneurs cannot run a successful company alone. It is essential to know how to empower others to join their vision. The entrepreneur has to give up some control and put their efforts in building other people’s skills if they want to build a scalable company. Delegating is a skill in itself. The entrepreneur needs to work on the essentials while passing on tasks that others can complete. Being able to motivate other people towards your vision will bring rewards to the whole organization. Even big-time entrepreneurs like Mark Zuckerberg had to learn effective management. No matter how cool his Facebook innovation was, it wouldn’t have gone anywhere if he did not learnt how to be an effective manager. Getting things done and making things happen is all about setting the right goals, determining the best way to achieve them, and getting everyone to execute it flawlessly. How do entrepreneurs accomplish this? Entrepreneurs are able to sell their vision and motivate others to work towards their goal

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3. Invest in people
Entrepreneurs know the value of networking and mentorship. They invest their time and money in people. Building professional networks and surrounding themselves with people of the same mindset will go a long way in helping make their goals a reality. Entrepreneurs acknowledge the importance of seeking mentorship to help guide them along their business journey. Research has demonstrated a stong connection between knowing and being an entrepreneur. In a survey of 2000 Americans by the Kauffman Foundation, 37.8% of respondents who knew an entrepreneur were entrepreneurs themselves. Entrepreneurs also take the time to mentor other people. The time and effort that they spend on developing someone else’s skills will eventually pay off in the long term. Entrepreneurs must leverage employees and other resources in order to build a scalable company. They learn to network effectively and meet the right people.

4. Have a finishing formula 
Entrepreneurs are driven to finish what they start. They have laser focus on the steps required to reach their goals. There are plenty of distractions along the way, but they build a system and formulate plans to complete tasks. Entrepreneurial leaders don’t have someone behind their shoulder telling them what to do next.  They find a system that works for them whether that is a to-do list or an agenda. Entrepreneurs know time is a finite resource so they take the time to prioritize.  Oftentimes, there are multiple tasks that need to be accomplished and not enough time to do it, but the most successful entrepreneurs have mastered the art of juggling. They tend to work on the most important things before they tackle anything else on their long list.  Without the entrepreneur shepherding the business in the right direction, the business will fail.

 5. Learning doesn’t end in school 
Entrepreneurs are ‘jacks of all trades, but masters of none.’ In his book Outliers, Malcolm Gladwell has popularized the idea of 10,000 hours of practice needed to attain mastery in a field. The time an entrepreneur spends running a company makes it hard for them to become an expert in a certain field. Entrepreneurs don’t have to be experts, but they do need a wide range of skills. They have to know a little bit of everything in order to make their vision a reality. It is infinitely easier to get a project off the ground with a well rounded skill set. Entrepreneurs have a well rounded understanding of their industry. They are financially literate, know what’s going on in operations, and know their customers. The list seems endless. With a constant stream of disruptive innovation entering the market, entrepreneurs need to be aware of any industry changes and they have to be ready to pivot their business models when a new product or service renders the old business model obsolete.

 6. Follow their intuition
Entrepreneurs don’t have all the answers. Half of the time, they don’t have the time to figure out all the answers before making a big business decision. An entrepreneur relies on their ‘gut instinct’ in these circumstances. Ninty-eight percent of company founders surveyed by the Kauffman Foundation identified lack of willingness or ability to take risks as a common barrier to entrepreneurial success. Only the entrepreneurs who are able to practice and hone these risk taking instincts will be truly successful. One of the greatest and most famous entrepreneurs of our time, Steve Jobs, said that having a great instinct was one of the reasons for his success and business acumen. Going with that entrepreneurs ‘gut-feeling’ regarding hiring people to help build the business is essential, especially in the early days of the business. A person may look good on paper, but knowing how to tell if that person will live up to the written hype will spell the difference between success and failure. It’s important to note a person’s potential to grow along with the business and that can only be fortold with a strong intuition. Decisions will have to be made without complete data. Sometimes, entrepreneurs find themselves in new territory or off the beaten path where there is very little research to help back up their decisions. This is where that gut instinct becomes truly important. ... read more on yourstory.com

Journaling for Professional Development

Developing Yourself Through Reflection

All of this – and more – is possible when you keep a journal.Would you like to become a better communicator, develop self-awareness, build self-confidence, and learn quickly from mistakes, all with one simple, daily habit?

In this article, we'll explore what journaling can do for you, and we'll look at how you can fit this valuable habit into your schedule.

Why Journal?

You journal when you make a record of your thoughts, feelings, and experiences on a regular basis. Most people who journal write their experiences down, either on paper, or electronically; however some use other formats – for example, by keeping video or audio journals.

If you don't do it already, journaling might sound like a waste of effort; after all, it's just another thing that you need to fit into an already-busy schedule. However, you needn't spend long keeping your journal, and it helps you grow, professionally and personally.

One of the biggest benefits of journaling is that it gives you the opportunity to reflect on your experiences and learning Journaling helps you:

• Identify mistakes you've made, and reflect on how to avoid them in the future.
• Review learning, keeping information fresh in your mind.
• Develop critical thinking and problem-solving skills.
• Become more  emotionally mature.

Another advantage is that journaling helps you develove skills because you learn how to express your thoughts and feelings clearly, and you get to practice your writing skills more often.

Journaling also helps you deal with negative events more effectively. One key showed that people who used a journal to describe and analyze their emotions after a stressful event felt more positive about it in the long term.

Last, journaling helps you keep track of the progress you make towards your goal It's motivating and fulfilling to reflect on what you've achieved.

Examples

You can journal in many ways. Consider these examples:

• Lochland writes in his journal after attending training classes, to reflect on what he has learned in each session. He cements new concepts in his mind by writing about how he will use them with his team.
• Marissa writes in her journal each evening after work. She takes time to reflect on what she did well, and she thinks carefully about what she could have done better, especially when it comes to interactions with her team. The self-awareness she has developed through journaling has helped her to become more empathic with her team members. She has also become a much better listener.
• Edward has felt unfulfilled in his work for several years. A few months ago, he began writing a journal every morning to see if he could find new goaln his work. Edward can now reflect on the previous day and recognize how he made a difference for his customers and colleagues. Daily journaling has rekindled his motivation and enthusiasm.

How to Keep a Journal

Use the techniques below to start journaling.

Decide on a Format

You have several options when it comes to the format of your journal.

First, you can keep a paper journal. Many people find that the physical act of "putting pen to paper" encourages reflection. It's slow and measured, and it can be a valuable way to start or end your day.

Another option is to keep an electronic journal. This could be as simple as using a document on your computer, or making entries Or, you could use journaling apps likelife zone.

You could also consider writing a blog to record your experiences. However, keep in mind that, once published, anyone has access to your thoughts, feelings, and experiences. Avoid saying anything negative or damaging about your colleagues, clients, or organization. Or, set up your blog so that only you can access it.

Make it a Habit

Writing in your journal is a best habit But, like any habit, it takes time and  make it stick.

To get the most out of your journaling experience, aim to write at the same time every workday, ideally when you won't be interrupted. Some people enjoy journaling first thing in the morning or right before bed. You could also write in your journal during lunch, or in an afternoon break.

Pace Yourself

Remember, your daily journal entry doesn't have to be a novel!

Go slowly at first – write for five or 10 minutes, and then stop when you've had enough. Over time, you might find that you want to write for longer.

Also, don't amend what you write down – just let the words flow.

Reflect on Your Experiences

Effective journaling combines a clear narrative about recent events with deep thinking about what you have learned, and what behaviors, if any, you can change or improve.

To help you write your journal, think about the following questions:

• What has happened since you last journaled?
• What have you learned since your last entry? What mistakes have you made?
• What difficult or painful events have occurred?
• If you could repeat a recent event, what would you do differently, and why?

When you write, think carefully about the most important thing that's happened to you since you last wrote in your journal. Keep in mind that this event can be subtle.

For example, you might have pulled off a great presentation, but this isn't necessarily your most important event. It may be more important to note that you were upset with your assistant before the presentation, and that you said something that damaged his trust in you. This is the event you need to write about in detail, exploring why you were upset and why you were cross. Only then can you learn from the experience.

As well as this, it's important to write down any small that you've achieved. When you don't make a point of thinking about these, they might slip out of your memory. But it's important to reflect on them, so that you can boost your motivation and self-confidence.

Be Honest

Try not to "sugarcoat" your day as you write – be honest about what you thought, how you acted, or how a person or event made you feel.

You'll only learn from your experiences if you're honest about them.

Focus on Positives and Negatives

No matter how lousy your day was, try to reflect on at least one positive thing that happened. (It's great if you can think of three or five – this will help you become more optimistic.) What led to this positive event, and what did you learn?

If you can't identify a positive thing that happened, simply "count your blessings" by thinking about things that you're grateful for, such as your health, your skills, or your family. It's easy to take these things for granted, if you're having a bad time.

Keep Your Goals in Focus

Think about your long-term goal as you complete your journal entry.

What progress have you made since you last wrote in your journal, and what can you do next to make progress on your important goals?

You keep a journal when you record your thoughts, feelings, and experiences on a regular basis. It offers many benefits for your personal and professional growth.

To begin journaling, decide on a format, and find time in your day to write, so that you can make it a habit.

When you write in your journal, think critically about events that you've experienced, and write down what you've learned.

Also, be honest about your thoughts and feelings, try to identify at least one positive thing that happened in your day, and reflect on your goals.