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5 Essential Skills Every Entrepreneur Must Possess

Many a times, leadership is 100% about managing people. Having great ideas and a strategic vision won’t get you far if your employees aren’t willing to follow you. And too many entrepreneurs take leadership skills for granted.

According to BDC Business Consultant, Rony Isreal, he stated that “The good news is that simple things work best with people.” He believes that a short definition of leadership should look like this: “The ability to lead by example while communicating, mobilizing, sharing and delegating.”

Therefore, as an entrepreneur, you should possess the following skills for an effective and impactful leadership;

1. Listening to understand: listening is one skill you should continue to nurture over the years. The more successful you become, the easier it is to simply take your opinion while accepting it as the end all be all. Having humility and remembering to hear out another person will keep your business from crashing. When you listen to someone else, you get their perspective on a situation. What’s more, you may learn something that you haven’t considered before.

2. Ability to delegate: every year, a strong leader should take 70% of their work tasks completely off their plate, and pass them on to the next in command (this continues down the entire chain). Delegation is a skill that entrepreneurs must continually develop. Successful delegation ensures that we avoid decision fatigue and burnout and that we are constantly learning new skills and moving the company forward.

3. Building trust with employees: For a business to run smoothly, it’s important to have a cohesive team that works together and trusts you to make the best decisions in their favour. Too many business owners make the mistake of not making trust-building a priority, and this causes miscommunications across the board.

4. Ability to communicate effectively: effective communication is the number one quality of a great leader. A good leader needs to be able to clearly communicate organizational goals, whether they’re short-term goals or long-term ones. When there is good communication, as a leader, you will be able to accurately convey your ideas and thoughts to those that work for you.

5. Learning: today is something you’ve never done before. Learn from it and don’t be too hard on yourself or your employees. Learn under fire; learn from your mistakes and successes. Learn to listen. Clients don’t want to be talked over, and employees want their concerns heard. Learn how to get the most from the people vital to your organizations success. Wherever and whenever you get your inspiration, remember that your employees are getting at least some of their inspiration from you. Keep up the good work.

In conclusion, while a good leader will be excellent at the above skills, the qualities of a good leader tend to be more subtle and come naturally. Even the best leaders make mistakes from time to time.

The skills outlined here are perhaps the most important, but others may also be helpful. The best leaders know that they still have much to learn, and continue to try to develop a wide range of skills all the time.

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