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Entrepreneurship

Entrepreneurial Skills

Below we will mention the desirable skills for the personality of the entrepreneur:

  • Desire to achieve objectives: The entrepreneur presents themselves as a person who has clear objectives and goals and puts everything required into achieving them. The entrepreneur is a person who has well defined objectives and who channels all their efforts in this direction, and searches for efficiency of performances at all times. So, for the entrepreneur it is very important to plan and be prepared to be able to attain as much their short-term goals as their medium- and long-term ones.

  • Confidence in oneself, perseverance and dedication. Energy and diligence: Moving a company forward is a job that demands a huge effort. The hours dedicated are countless, and it is usual for them to far exceed the normal working day. Although working for yourself has its advantages, such as the possibility to earn more money and to have more autonomy, the other side of the coin is the great effort and energy that must be devoted to the company. The entrepreneur is aware that they are the person most interested in the business doing well.

  • Ability to take calculated risks: Employers, as far as possible, attempt to avoid risk in the activities they carry out. But it is also true that it is increasingly difficult to eliminate uncertainty. It is necessary to accept that risk is unavoidable, and act accordingly, mitigating it if possible. The entrepreneur has to get used to making decisions in situations of uncertainty. The entrepreneur is a person who is not afraid of risk, but who always searches for tools or instruments that help to control this risk.

  • Organisational ability: There are many elements involved in a business project. Coordinating such different elements effectively orienting them towards the achievement of the company's objectives is one of the most difficult tasks that an entrepreneur must do. Searching for financial resources, designing the production or distribution system, identifying the most suitable workers, knowing how to motivate them, and so on

  • Initiative: The entrepreneur is not afraid to take on responsibilities. Entrepreneurs are geared towards action, which does not mean that they do not think before taking a decisive step

  • Optimism: Despite the many obstacles they may see coming, the businessman must have a positive view of the future of their company. This does not mean that they are not realistic when analysing the state of their business.

  • Integrity: Integrity to achieve credibility with a view to the different groups interested in the development of the business has become a key aspect. The entrepreneur needs to earn the confidence of the different interested groups so that they can go ahead with its project and achieve success. The lack of ethics and integrity of the promoters of an entrepreneurial project jeopardize its development. Trust becomes an indispensable element in the business world; without trust, it is very difficult to establish long-term relationships with the different interest groups.

  • Training and ability to manage: The entrepreneur needs to have a great ability to managing the project and specific business training. Training is one of the main competitive advantages of companies. Directing a company requires a set of skills that cannot be gained without training and skill building.

  • Innovative Spirit: It is becoming increasingly necessary to take original and innovative approaches that allow the company to stand out from the competition and attract customers.

  • Creativity: It is difficult to identify new unsatisfied needs in today’s society. It is often simpler to recognise the shortcomings that exist in covering the demands of society and look for better ways to satisfy them.

  • Orientation in the market and opportunities: The entrepreneur is always willing to analyse the environment, almost unconsciously, to look for new business opportunities, to see business opportunities where others do not.

  • Global vision of the company: Success depends on so many elements that an integral and global vision of the business is needed. The entrepreneur is a person who has conceptual skills that allow them to see the company as a whole, in a global way.

  • Tolerance of ambiguity: In the current environment there is a lot of uncertainty and ambiguity, and, therefore, the employer has to learn to tolerate this and consider it as the starting point of opportunities. For the entrepreneur, change is permanent.

Source: Guide to employment, URV Publications

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