This is a guest post by Harrish Sairaman.
Everyone dreams of becoming a successful entrepreneur, but only a few actually manages to achieve their dreams. Being an entrepreneur is easy, but being successful is not everyone’s cup of tea. There are certain skills that an entrepreneur should possess that will define his success. Unfortunately, some of the entrepreneurs do not have them and hence, most of the start-ups end within one year of their operations. Here are the most important core skills every entrepreneur needs to drive their ventures to the pinnacle of success.
Designing Feasible Plans
Most of the entrepreneurs lack the quality to design feasible plans for their businesses. They get emotionally attached to their idea of starting a new venture and come up with a plan of action that is only good on the paper. An entrepreneur should know that to acquire skills they have to be on the field and not in the classes. True learning only starts after your finish your theoretical preparation in your college or in some seminars.
An entrepreneur becomes successful only when the plan he designs is feasible enough in the current market scenario. It should be an all round plan of action containing the detailed main idea of how to transform that into product and services, numerous the marketing and promotion plans, backup plans in case of failure of the primary plan, future plans with an enormous scope of growth. All these steps must be practical and backed by facts and surveys and not by the imagination of the mind.
An entrepreneur has to be highly active and interact a lot even though it is not his strongest point. Unless you interact, you will never understand the true market scenarios. The more you talk to quality people, the better ideas and plans you can form. Therefore, you should focus on creating networks with other entrepreneurs who are at your level or higher than you. Interacting with successful entrepreneur will help you overcome usual obstacles in the road of glory. You must attend events, summits, and conferences for upcoming entrepreneurs and build network constantly and stay in touch.
Defining and Driving the Goals
When you are starting as an entrepreneur, it is likely that you will have a handful of people working for you and hence, you will have complete control over everyone. You just cannot be complacent and let your manager do everything for you. You have to act like a leader and define the goals and targets for everyone in the company and make sure you also define the ways to achieve these goals. You have to lead by example and inspire others to do their part religiously. Most entrepreneurs fail because, in spite of being the leader of the organization, he does not pay enough time leading the people and executing the plans and invest more time in planning them.
A Great/Influential Speaker
Even if you are not born a great speaker, you have to become one. You have to represent your company in different events to get noticed and even convince the clients and investors. It is generally said that an entrepreneur has to be the best salesman in his company. Therefore, if you think that your role ends merely as a visionary and investor who is going to spend most of your time sitting on the couch watching managers look after your business, you need to wake up. Moments will come when you will get opportunities to speak to a large audience containing investors, potential clients, and other entrepreneurs because there are so many such events are organized across the world. If you are not a good speaker, you will miss the opportunity of your lifetime from taking your business from ground zero to cloud nine. Also, if not a great speaker but an influential speaker, your presence should inspire your team and that is always important.
An entrepreneur opens a new venture only when he knows that he is good at something and he can use his idea in his fields of activity like no one else has done before. But at the very beginning, he might not get people with the exact required skills. Therefore, he must invest his time and money on people. He should mentor a few people and create a strong team who would build networks of their own and carry on the business idea and operation just like the way the entrepreneur himself would have done. Sure, they would leave once they get enough confidence and start thinking and that they can become a successful entrepreneur, but by the time such thought comes in their minds your company would become highly successful. So, your investment and mentorship will pay off big time.
See Through Things & Flexibility
Some entrepreneurs are stubborn that their plans will be successful no matter what. Once they put their plans into execution, they do not put any effort to amend anything even when it is going the wrong way. Planning something and executing it are two different worlds entirely. A successful entrepreneur is always open to amending his plans, and they do so moments before the plans completely fail. They can see through things while plans are in execution and calculate the risk easily. Accordingly, they amend them to prevent complete failure and lead the plan in the right direction of becoming successful. The ability to see through things and being flexible will give an entrepreneur the edge to overcome competition effortlessly.
Harrish Sairaman is one of the top Corporate Trainer in India. He is one of the co-founders of The Next Dimension, a company which has been established with the intent of empowering individuals. Harrish believes in a high energy, insightful learning experience driven by impactful activities to bring in a transformational shift amongst his participants. Having conducted over 900+ workshops, Harrish has touched lives of over 200,000 participants.