For a young entrepreneur, today’s market is a lot harder than it was 30, 20 or even 10 years ago. The number of start-ups seems to grow each day all around the world, and any unique idea seems to have been tested and applied dozens of times already. The odds of success are not that great. Apart from managing success as an entrepreneur, you also have to closely study other successful personalities in entrepreneurship, and observed some common traits.
Here are the most important ones I have seen so far:
- Strong communication skills
Communication skills, both oral and written, are an absolute must in this domain. You will be talking to potential customers and partners every day, sending dozens of emails and making tons of phone calls. Learning to communicate efficiently and getting your message heard are both vital skills.
When I first started, I quickly realized I didn’t have to be smarter, prettier or wealthier than my competition. I simply had to work harder and smarter. I quickly started waking up at 6 A.M so I had more hours during the day.
- Patience and perseverance
These two are very closely tied to one another. You must understand that it’s not enough to be great one day; you have to be great every day in order to truly succeed. Quickly learn to build good habits that will make you repeat successful actions, day in and day out.
- Confidence and charisma
These have proven extremely valuable for me, as a woman. The fact that I could hold my ground against any man in the business gave me lots of vital wins, including customers and contracts. Learn public speaking, negotiation and other such skills in order to boost your confidence and become more charismatic.
- Creativity and innovation
You don’t have to re-invent the wheel – I surely didn’t. In order to be perceived as a creative and innovative entrepreneur, you just have to bring a new twist to an already established product. Contrary to popular belief, creativity can also be taught through training and exercises.
- Power to fail
Yes, admitting failures in entrepreneurship requires power. It takes courage and strength to admit you’ve failed and to learn all the lessons these failures have taught you. I’ve failed 2 times before my main breakthrough, a lot less than some much more famous women entrepreneurs. Make sure you understand the lessons that come with these failures.
- Teamwork and team building
Working in a team and building a team are both vital skills, because you can’t win alone. You’ll need partners, employees and consultants, all dedicated to your idea. Learn to trust them and empower them, and they will never leave your side. Finding right people should be your first major priority in entrepreneurship.
- Managing risk
Last but not least, the ability to manage risk is a must-have in entrepreneurship. Every decision you make, at any given time, will have a certain degree of risk, and you can’t always chase sure bets. Learn to embrace risk, and it will lead you to success.