Analytic Vision

10 Useful Skills That Will Make You A Better Entrepreneur

Posted by Ştefan Alexandrescu on 31/07/2017

 

Working as a consultant for entrepreneurs is exciting and stressful in the same time. I know, because I’ve done it for years. So I decided to share some of my observations that might come as very useful for entrepreneurs and not only.

Not having these skills will not ruin you, but it would certainly slow you down. This is not an exhaustive list, just a “top of my mind” approach that I think would be very precious especially for those in the beginning of the road that make the leap from freelancing to entrepreneurship.

  1. Creating rules based on your principles. Any company is similar to the entrepreneur which creates it. In the beginning, especially if you don’t have a lot of employees, it will be easy to express how other people should behave, act or think concerning your business in order to respect what you want to create. Principles are like a lighthouse in the dark and in the night. In the beginning, they might be clear and easy. But the best way to share them is to express them as laying foundations for the rules: not too many, not too few, but clear for everybody. Once set, everyone must respect them. You must respect them the best. In the same time, it is important to train this skill, because your principles evolve and so do you.

  2. Express gratitude. Train yourself to use any anniversary, any opportunity in order to thank people which have made a contribution. Thank your clients after buying from you. Thank your collaborators for doing a good work. Thank your employees for reaching the goals. Thank your partners for supporting you. If you believe in God, keep this in mind: do not wish for God to give you how much you can take! You can take and have as much as you want as a burden in this life. Whatever you want, God can give you. But, in order to keep it, you must remember to be satisfied with less and with more, to take any success as a gift from God and not as a merit. The gratitude is a key skill for an entrepreneur.

  3. Recognize the teachable people. There are no real incompetents, only people who don’t manifest or have lost the capacity to learn. Therefore, choose wisely to work with only those people who can be taught. Do not hope that giving chances to seemingly talented people will make them fly and become stars. Most oftenly, the people you like the most are not those which necesarrily perform the best. Welcome the people who you choose to improve their careeer working with you!

  4. Train yourself to make distinctions between options, possibilities, opportunities and probabilities. All might sound similar, but they are very different. Anything is possible until you have to chose options. Those options must be at least probable. Between the options which are probable, you have to prioritize your opportunities and decide wether you want to choose them or create them. But remember, whatever you do, your options must not only be possible, but probable also! Many young professionals start their entrepreneurship career doing business plans like they did during faculty, but fail miserably. Know your territory and act upon that knowledge!

  5. Constantly develop yourself. What happens when the one thing that you are able to do for your clients is the thing that stops you the most from developing yourself? The competition will likely take over in a matter of time. You need to constantly be a source for re-invention. Working for your own development should not be in a competition with working for your customers or with your employees. Time for yourself to develop is also needed in order to enhance your business.

  6. How much do you allow yourself and others to act authentic in a relationship? Find and recognize the other people’s values, beliefs and convictions. Beliefs are convictions we believe to be true. Attitudes are collections of beliefs and values around a certain topic. There isn’t such a things as a “non-value” or “anti-value”, there are only different beliefs, values and attitudes. Erach person is motivated by different scopes and if you learn to discover those asking specific questions (such as some from LAB profile), it is worth to use them and to link them with each of the important actions that need to be taken for your business plans to work. Values lead to motivation. Motivation leads to vision. Vision leads to strategy. Why? Because where there’s a will, there’s a way. If the strategy does not take into consideration the values of the employees, it will be a difficult to implement strategy.

  7. Use the faults of the employees in the favor of the teams. Knowing that a certain person has a low performance in a certain area means that you know not to delegate to that person something (s)he might do which is wrong. Creating teams taking into consideration both their strong points and their weak points is a service that you can do creating the kind of complementarity that the collaborators could and should appreciate.

  8. Constantly shape in your mind the model of the best entrepreneur that you can be. How does that feel? What does this model do? How do you see him or her? Remember, it’s a model, it’s not Superman, it doesn’t have to be perfect. Practice in your mind what you would do in different types of situations: with your employees, with the clients, with the partners. Put yourself in the shoes of people who need to make difficult decisions. What’s worth doing to become such an entrepreneur? What is it important to giv up in order to become this model?

  9. How do you manage to diplomatically tell the truth and be convincing without lying? Practice rethorics and argumentation. What’s worth doing in oder to prove that you are right? Sometimes, it’s not enough top be right. It also depends how you say it. Having different reframing strategies in order to make each person think in his/her way is required, because not everybody will be convinced by the same arguments. In business, it doesn’t matter so much who is right, it matters what makes things profitable. Also, please keep in mynd, what others perceive as a message matters, not what we intend to transmit.

  10. Serve your clients, for their own good, don’t please them. Politicians, coaches and psychologists may oftenly be “punished” for actually serving those who chose them. Pleasing the clients is something which others can do very easily, but it takes some courage to educate your clients to recognize their own deep needs and to be glad they are actually served by what you are offering.

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