The word entrepreneur has become something of a dirty word in some circles. Established businesses and connections you might want to make might not take kindly to you describing yourself as such. That’s because entrepreneur, nowadays, sounds more like ‘person with money to waste’. But to really fit the title, you need the skills to go with the capital.
Knowing the market
The one mistake that plenty of entrepreneurs make is getting ahead of themselves. Coming up with or spotting fantastic ideas that could revolutionize the industry.
All without ever taking the time to see if there’s a demand for it. If you’re not properly researching the market and the gaps left for you in it, you are setting yourself up for failure.
Never take lightly the research that goes into an informed product or service development.
If there’s anything that successful entrepreneurs have, it’s charisma. That’s not just about being pleasing to other people. It’s about knowing how to be pleasing to other people. Business isn’t just about developing a product or service.
It’s about being able to convince people how much they need it. Without the ability to draw in customers, you have an idea that’s only going to cost you. Be able to spot the gap in the market, yes, but be able to convince people that it’s important, too.
Of course, it’s not just about knowing consumers, either. It’s about knowing the people that you’re going to need to succeed.
Being able to make teams and bonds with partners that prove productive for years to come. If you’re young and untested, you’re going to definitely want a mentor, first.
That might put a pause to your plans of being the self-made man at the top of the food chain. But it’s necessary to learn how things go.
One of the reasons that it’s important is because you need to learn about learning. You need to be building a knowledge of business that never stops. The way that business evolves never stops, after all.
Could be learning lean productivity through Six Sigma online training. Or how to apply customer rate conversion to websites. What makes a successful entrepreneur, more than money and charisma, is the application of the right knowledge at the right time.
That said, we’ve already mentioned that charisma plays a big part. So you better know how to use it. You better know how to build a brand, in person and online, and make the most out of it.
Blogging. Speaking opportunities. Trade shows. Use whatever tools you can to build clout behind your name. Be able to demonstrate that knowledge you build so that by the time people meet you, they already know what you can bring to any table.
Being a successful entrepreneur is about more than just charisma and money. It’s about having the sense to carry it through and actually make a success out of your ventures.
About treating it seriously, learning about business and people as you go. So don’t take the title lightly.