Submitted by timyue on Tue, 01/20/2009 - 14:21
| Skills Needed | Examples Why |
| innovative | to create a product/service that is new and can sell |
| unique | to have a marketable product/service |
| self motivated | able to work alone because there is no boss |
| able to tackle failures | won't let failures demoralize or stop you |
| Risk taker | without risk no business will grow |
| teamwork | able to work with others in the business or with suppliers/customers |
| leadership | able to lead your company/staff |
| negotiation | to negotiate for better prices with suppliers or clients |
| handling of money | able to be accountable for your money to ensure proper and detailed book keeping |
| dedication | will perservere through the high and low times |
| good public speaker | need to be able to present him or herself to the business partners or clients |
| good listener | listen to clients on their suggestions, complaints, needs, wants |
| persuasive | to persaude customers to buy your product or service/ suppliers for cheaper prices/ investors |
| good comunicator | to be able to communciate well with your clients and suppliers |
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After reading through your list of what an entrepreneur is composed of I noted an important skill that I had previously overlooked. One's ability to accept failure plays a vital role in how well they adapt to situations and learn from them. Often times this skill is naively left out of similar lists as many people are under the assumption that a successful leader is averse to failure. While it is undeniably true that any great leader attempts to avoid mistakes, the fact remains that failure is inevitable and it is necessary to know how to cope with it. If an entrepreneur is unable to accept past failures it will be very difficult for him to learn from them in order to make better future decisions. Acceptance to failure is a trait that many business managers lack, and in turn it hurts their ability to lead.
This is a very impressive post. I agree that being innovative and unique are two very important skills to have. There are a number of people who always talk about thinking outside the box. However, simply speaking those words does not make it any more straightforward. The ability to come up with new and different ideas is not something that is easy for everyone, but is most definitely a must for an entrepreneur. Another important skill I missed is the ability to be self-motivated. Without a boss, many people might find it difficult to accomplish tasks because there isn't a person giving out deadlines and more work. When you are the boss, you have to get out there and find the work yourself.
I like the way your post is laid out, especially giving examples of why each skill is essential to entrepreneurs. Many people read these posts and see these lists of skills but may not really comprehend the exact meaning your trying to convey. Something that you exemplified in a couple different skills you listed was the absolute need for an entrepreneur to have great communication skills (your last 4 skills were examples of this). It is imperative for a business owner to be able to communicate on every level of business, from the idea, to the inception of that idea, to the everyday running of the business. Since communicating effectively is such an important aspect of an entrepreneur, it makes sense that one's list of skills should include several examples of such.