The 06 Key Entrepreneurial Skills You Need To Have for Starting Your Own Small Business!
When you think about starting a business, how often do the thoughts go to buying an expensive computer, having someone come in and tell you what to sell and what not to sell, or taking out giant loans for that sole purpose of working towards success? If anything, I believe that these are some of the worst (and least creative) ways to start a new business because they can get very costly very quickly if not you’re lucky enough to find investors who appreciate your vision but don’t want to take debt that will only pay back more in interest once it is all said and done.
So here have I written this article on how best to start your own business, by finding yourself the perfect entrepreneur-friendly platform that allows you to create your own online store and connect with the world, without needing any huge fees, if you’ll just have something you make selling. It’s been over 20 years of creating hundreds of thousands of dollars in revenue for myself running my own online business, and I’m still getting rich doing so, so this isn’t going to change our current mindset that we need big expensive things like fancy computers and fancy money. But if you are looking for the absolute highest amount of power to help grow your small business, I’ve rounded up five key entrepreneurial skills you’re going to need to be able to thrive from day one, with no experience needed at all.
1. Finding A Unique Niche:
You probably already know by now that a key component of making good money is finding markets for what you specialize in. As you grow your market, you can see exactly where your customers will fit so when you want to advertise your product to those same locations, you know exactly where to go. This will make sure you have a competitive advantage over everyone else who’s trying to offer the exact same thing like yours. There are also many resources that can help you learn more about different areas around the globe, including YouTube tutorials, eBooks, podcasts, and blogs. Learning about other people and having a positive impact is vital to earning money as well.
2. Creating Unlimited Profits:
There are actually two types of profits that can be made as a result of building your brand. One type will come directly from the sales you make, the other will be income that goes from your company becoming bigger and earning more customers, which means you may become a full time employee rather than a part time employee. Luckily, there are plenty of platforms that allow you to create unlimited profit streams. These include Amazon Voucher Codes, Upsell Promo Code Websites, Product Bundling Sites, Digital Marketing, and Many More. Some people call this the “gig economy” but that’s never really the case. Every single person knows that they need to earn enough to afford groceries and pay bills. That’s why we’re seeing more and more companies offering meal and entertainment packages to potential employees. Obviously having a side hustle is great if one of your main goals is self growth, but if you’re serious about growing your business then this could be an aspect that you should build into your arsenal.
3. Growing Your Brand:
If you have a name that you’ve used on almost every website, if a logo or color scheme is recognizable, if you have a logo that you use everywhere, if you have specific words that represent the same idea in your business, then you know your brand is legitimate. All consumers know that their favorite brands use them so it makes sense to stick to that, and you should do the same thing. Another reason for the popularity of the phrase “You don’t need a college degree” is because the education process is very rigorous and demands very detailed planning and research. However, there are tons of resources in the internet that can teach you everything you need for learning to run your own business and even prepare you for being a first line employee. Start by checking out courses such as Course Hero, Coursera, Udemy, edX, etc., for a few minutes each day.
4. Being Informed People Will Always Follow:
I’ve seen it in life how being informed others will always follow you everywhere you go, whether you’re an expert on certain subjects or not. My brother was a flight attendant that flew around the world, and he basically had a brand for himself. He had tons of knowledge and he wasn’t afraid to share his information with whoever he met along the way. His book, Flight Attendant Made Him Rich, is extremely popular because it taught him everything he knew there were in the airline industry and how the rewards work (even if you didn’t know about it). Although knowing all that information he has to try and understand things that he doesn’t yet know. His book helped him save a lot of money during his whole career because he has always been a “knowledge guy” in terms of flying. Because he knows so well everything that aviation has to say, he was able to find places to move abroad and travel around to more countries which resulted in higher salary. He did it because he knew the ins and outs of airlines. Now as a person you could use this type of strategy everywhere too. Think about the people that you see and meet every day, and ask yourself, “What would I do with that person if I was to know him/her a little better?” and then do it. Not only that, use this information to your advantage and share the knowledge that you have. Then if the opportunity comes up and that happens, again, jump right into working as fast as possible and capitalize on it. And if you’re lucky enough or smart enough, your next great customer will already know about this fact.
5. Failing Faster Means Winning:
I hate failure. It’s the second hardest skill to grasp once mastered. Just the thought of it terrifies me to death, but it’s something we can learn over time. There are two types of failures that occur when you aren’t as prepared as usual, especially when launching a business. First is when you fail miserably. Don’t worry, I’m not talking about when you make mistakes, I am referring to the fact you should have failed more often than expected, like failing a test or setting a goal you weren’t able to reach. Even though it does happen, it’s a valuable lesson you can learn from. The second is when you win. This is a type of failure that occurs when you fail before you ever really give your all in the beginning. Imagine waking up every day and being told you did something amazing, but in reality, you didn’t. Or maybe you never ever got started. Regardless of this type of failure which occurs when you actually give your all in the beginning, it’s also a real testament to your perseverance and dedication in pursuing your goals, because you believed something so incredible after coming from deep down inside saying you were never good enough. Success comes from giving your all, but even then success doesn’t come. Most people start and end with no regrets, but what separates winners and losers is how they handle their failures.
6. Emotional Intelligence Can Help You Stick With Your Dreams:
In my previous blog post titled “How to Be Self Reliant At Work”, I discussed how emotional intelligence (or EQ) helps you stick with your dreams, get out of your own head and stop holding onto your past beliefs and emotions. We all have a story to tell, however, when it comes to choosing an employer and putting yourself out there. Do your research (if you decide to) and find out how the compensation structure works. Find out what benefits are available to you when you apply, and what changes will be included in the hiring process. Next, figure out what type of compensation you can expect from your position. Finally, work off what types of benefits you could receive and what you have to lose. After reading through all of this information and doing your due diligence when deciding which place makes the most sense for yourself, make sure to go with whichever company offers the best deal. Having an organization that makes sense for the individual or individual’s needs. In today’s world, anyone can grow their business while having a clear idea of what the opportunities are; and everyone in the workplace wants to support the individual that they choose or their dream.
