Objective Of The Course:
- To help trainees develop their entrepreneurial skills
- To enlighten trainees with activities to improve their entrepreneurial skill
How to Improve your Entrepreneurial Skills
- Start a small business
This is usually the first step i recommend to anyone who wants to develop or improve his/her entrepreneurial skills. One thing i love about entrepreneurship is the fact that it can’t be learned within the four walls of school. Real entrepreneurial skills are picked up on the streets. It’s a kind of practical thing. Now suppose you were to attend a seminar on marketing and sales; how do you intend to put into practice what you have been taught if you don’t have a business.
Whenever i am asked the question; “how do i develop entrepreneurship skills? I reply, “Go and start a small business.” A small business can be a great source of information and practical experience with respect to running a business and improving your business skills. The main reason i emphasize you start a small business is this; mistakes can be made and corrected quickly in a small business. I wrote an article tagged “The magic of starting a small business.” I will advice you read it.
- Read business, industrial and technological magazines
Another way to improve your entrepreneurial skills is by reading business, industrial and technological publications. This will keep you on edge and very well informed. Reading these publications will help you spot upcoming trends and innovations. It will also help you keep track of your industry leaders.
- Read books on business and entrepreneurship
The next way to develop your entrepreneurial skills is by reading books on business, entrepreneurship and any book worth reading. Like i said in previous articles, entrepreneurs are generalist and must know a little of everything and one way to achieve this is by reading. Entrepreneurial skills development is all about continuous learning.
- Attend seminars
Attending seminars is a sure way to develop your entrepreneurial skills. Good seminars are usually tough and straight to the point. Just like a mentor of mine says “Schools are for employees, seminars are for street smart entrepreneurs.”
- Read autobiographies and biographies of successful entrepreneurs
When you read the autobiographies and biographies of successful entrepreneurs, you gain insights into their entrepreneurial lifestyle. Such books will help you prepare for the challenges of the business world. In such books, you will find the grass to grace stories of successful entrepreneurs. You will learn from the mistakes of these successful entrepreneurs, the challenges they faced and how they handled these challenges.
- Join organizations such as toastmasters
I hope you know that entrepreneurial skills comprise of communication skills, people skills, leadership skills, negotiation skills and so on. Joining organizations such as Toastmasters will help you develop the communication aspect of your entrepreneurial skills. Before becoming an entrepreneur, you need to work on your charisma, confidence and self esteem. Without communication skills and other skills, forget about being an entrepreneur.
- Network with other entrepreneurs
An adage says “iron sharpens iron.” When you network with other employees, you gain new ideas and information. Joining an entrepreneurial network is a sure way to develop your entrepreneurial skills because in such networks, you tend to discover your strengths and weaknesses. In such entrepreneurial networks, partnerships are formed, entrepreneurial skills are developed, ideas and strategies are shared and business opportunities are uncovered and analyzed. An example of such club is the CashFlow Club, which specializes on entrepreneurial skills development and financial literacy.
- Find a mentor
The last step to developing your entrepreneurial skills is to find a mentor. Now who is a mentor? A mentor is a person who has passed through a given field and has decided to nurture you through that same field. Having a mentor will help you avoid certain mistakes new startups make. A mentor can also be a great source of leverage for you and your business. In all, i always advise entrepreneurs to use every opportunity they have to learn something new and improve their business skills.
THE 17 SKILLS REQUIRED TO SUCCEED AS AN ENTREPRENEUR
There’s a question that haunts everyone who would-be entrepreneur – and many actual entrepreneurs – every day: “How do I know if I have what it takes?” Yes, the Internet is full of ideas, tips, tricks and even awesome quotes. But do you actually have the skills?
Find out — here are 17 skills every entrepreneur must have to be successful.
- The ability to manage money.
Very simply, if you can’t manage money, you can’t manage a business. Do you know where your money goes each month? Do you live off less than you earn? If the answer to these questions is no, you’ll struggle to manage a business budget as well.
- The ability to raise money.
Once you can manage money, can you get more? In order to get investment, you need to not only understand where to get money, but how to convincingly make a case that your business is a good risk as well.
3: The ability to relieve stress.
Stress is no laughing matter. If you allow yourself to get frustrated and upset by setbacks, you’ll struggle as an entrepreneur. Learning how to use stress to your benefit is essential.
- The ability to be productive.
This is a big topic, because there’s no one right way to be productive that works for everyone. Learn about your peak energy times, your routines, and the productivity tools that work for you in order to create your own plan for success.
- The ability to make entrepreneur friends.
According to entrepreneur Jim Rohn, “You are the average of the five people you spend the most time with.” So who do you want to be? Improve your odds of success by finding entrepreneur friends who will be able to understand your struggles and give you much needed insight.
- The ability to identify strengths and weaknesses.
As a business owner, you don’t need to be perfect at everything. You do, however, have to understand where you’re strong and where you’re weak. Assessing this will inform everything from the business decisions you make, to the partners you bring on, and to the employees you hire.
- The ability to hire effective people.
Speaking of hiring, this is easily one of the most important skills any entrepreneur could have. Having great people on your team will give you access to new strengths, while also building a company culture that people want to be a part of. Hiring the right people is essential to get where you want to go.
- The ability to train new staff.
When you bring on someone new, a robust on boarding process will ensure that they know what to do and not do. Not only will this help keep your company moving the correct direction, it will increase the commitment level of good employees and give you grounds to follow up on misconduct.
- The ability to manage staff.
Once you have the right people, you need to manage them well. Early on in your business’s growth, you’ll be everyone’s manager, so it pays to be effective. If you don’t already know how to manage, take the time to learn how to motivate, encourage, and develop your staff.
- The ability to conduct basic SEO.
In the beginning, you’ll be doing the work of every business department. With that in mind, do you understand basic SEO and digital marketing? If not, you’ll want to brush up on this area before you launch a business.
- The Ability to A/B split test.
A split test is a simple process that involves running a scenario two ways to test a possible change. It’s commonly used to make websites effective, but it can be used in many areas of project management and marketing as well.
- The ability to connect via social networking.
Along with SEO, social networks represent a key part of any business’s marketing strategy. Not only will you need to understand each platform, you’ll want to arm yourself with the best strategies for getting your startup and personal brand noticed on each one.
- The ability to focus on your customers.
To be clear, without customers, you have no business. Make sure all of your pitches, products, and services are focused on actual customer needs. If you don’t know what these are, research and ask questions so that you’re able to give great customer service.
- The ability to close a sale.
Letting customers know you understand their pain is important, but asking for the sale is where many entrepreneurs get stuck. If you’re nervous about this step, try enrolling in a sales workshop to learn these much-needed skills.
- The ability to spot new trends.
Business moves fast, so you’ve got to have the ability to see changes coming in your industry. Make it a point to keep up to date on new startups and the advances in technology that could be poised to disrupt your field.
- The ability to deal with failure.
No business venture is a straight line to success; knowing how to deal with ups and downs is essential. Remember that every successful person out there failed dozens of times before getting a win. Failure isn’t the end – it’s just a data point on the way to success.
- The desire to improve your world.
In the end, the best and most enduring motivation is to make a positive change in the world. When you focus your business and your success on that top priority, you’ll find yourself ready to weather any storm to meet the goal.
Don’t let this list intimidate or discourage you. Being an entrepreneur is a big task, but all of these skills can be learned. If you notice one you’re lacking in, go get it! Your eventual success depends on it.
Assignment: Tell us about yours.