Business 101 5 essential skills for every entrepreneur

Whether you’re already great at the following skills or could use a few pointers, these are the areas you should focus on for success.

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  play (Entrepreneur.com)
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Whether you’re already great at the following skills or could use a few pointers, these are the areas you should focus on for success.

While the debate rages on as to whether entrepreneurs are born or made, one thing can’t be disputed: polishing certain skills can help you be a better entrepreneur.

1. Communication - This is one of the most essential skills you need as an entrepreneur, because it have to network, meet people, answer customers via mail and on the phone.

Even if you’re not a skilled communicator, paying attention to how people react to you can clue you in to how well (or not) you’re reaching them.

 

Getting puzzled looks whenever you speak? Ask the person you’re talking to if what you said makes sense, and give them the opportunity to ask for clarification.

2. Branding - It starts with being active on social media, and is shaped through content publication, whether on or off your website.

Whether you’re striving to brand your business or looking to establish yourself as an expert in your industry, knowing how to do so online is essential to your success.

 

It’s important to know how to deliver content and resources that your target audience wants and will find valuable.

3. Sales - You may not identify with salespeople, but the fact is, if you run a business, you’re involved in sales.

You might have a sales team that handles all of your company’s sales, but every time you deliver your elevator pitch about your business, negotiate with a vendor, or even just persuade anyone to do anything, you’re tapping into sales skills.

4. Strategy - Dedicate time to simply dreaming about what you want for your business. Where would you like to take it? What’s your vision for it? Now, how can you get there from here?

 

Set your goals, then develop an actionable plan to make them a reality. Then, don’t forget about those goals. Keep them front and center to everything you do.

5. Finance - You should spend more time planning your finances, monitor your profit and loss.