10 skills entrepreneurs need in order to build a thriving business

An entrepreneur, as you probably know, is someone who starts their own business, especially when they see an opportunity and seize it.

This means that in order to enter this universe you need to be willing to take on challenges and master quite a few skills, such as thinking beyond and being driven.

Moreover, you need to be prepared to overcome obstacles and face difficulties head-on. A lot of people who are starting out in their entrepreneurial careers look at the trajectories of the world’s greatest entrepreneurs and think it’s something unattainable.

Several people wish to start their own business, but often feel unsure and end up not even taking the first step.

When trying to outline your own path, it is common to have concerns or feel anxious.

One of the first questions you may ask yourself is: “Do I have the required entrepreneurial skills  to succeed?”

Although there isn’t a definitive and fixed model, after all, people have different styles and personalities, certain characteristics are predominant among those who are successful.

So check out below the 10 characteristics entrepreneurs need to master. This way you can identify if you have what it takes to thrive as an entrepreneur or even if you need to develop any skill further.

1. Passion for what you do

This is the main attribute of a successful entrepreneur.

Passion is what keeps you confident and enthusiastic. And doing things with enthusiasm generates a better quality of life and satisfaction, not only professionally, but also personally.

Entrepreneurs are always studying and broadening their knowledge about the segment they’ve chosen, always keeping up-to-date with their market.

Dedication becomes easier when you love what you do.

You can even influence other people with the good energy you put into your work.

Whether it’s your customers, employees or partners, all feel more motivated when they deal with someone who loves their job.

This is why we’ve chosen passion for what you do as the first characteristic of the most common entrepreneurial skills.

2. Ethics

Ethics is a set of moral principles that guide the relationships of individuals, based on what is considered right or wrong.

Conducting yourself professionally means placing responsibility first and foremost.

A leader should be respect and considered reliable by those around them. Work ethics, therefore, is nothing short of fundamental.

It creates a transparent, honest work environment, which can improve productivity.

Truly successful entrepreneurs are those who not only achieve financial success, but who carry out their business abiding by ethical values and therefore, who have a positive impact in the lives of those around them.

3. Resilience

Many people see entrepreneurs as prosperous, lucky people but what they really need, above all, is resiliency.

Resilience is the capacity to recover when encountering difficulties or sudden changes. Therefore, one of the most important entrepreneurial skills.

In the work field, resiliency also means professionalism and innovation in the face of adversity.

It is through difficult times that entrepreneurs are able to assess their business’ shortcomings and find new paths to come out stronger after overcoming those obstacles.

In other words, resilience is the ability to remain focused and find creative ways out in a crisis.

4. Proactivity

Success doesn’t come to those who stand still waiting for it to happen.

Having an entrepreneurial profile involves having initiative and planning ahead.

It’s much better to take action and anticipate demands than sitting around waiting for it. This means using proactivity in your favor is key.

This is a habit that can be developed and that should be nurtured if you wish to be successful in your business.

By being alert and willing to work hard, proactive people achieve results ahead of others who are unable to plan or act without someone telling them to do so.

In addition, proactive people know what is expected of them and try to go above and beyond.

5. Creativity

Creativity, simply put,  is merely a person’s potential to create.

Great names in entrepreneurship didn’t get where they doing what was expected from them. It usually takes going off the beaten track to creating successful businesses.

An example of perseverance and creative mindset is Javier Elices, who despite having a successful career as an IT engineer, always dreamt of building his own business. He decided to take a leap of faith and create his own digital course at Hotmart. Today he is a thriving, best-selling entrepreneur in his home country of Spain.

In other words, innovation and creating your own path will surely help you.

Some people are naturally more creative than others, but the good news is that creativity can be developed.

You can stimulate your brain with simple activities to develop an entrepeneurial mindset  and boost your entrepreneurial skills.

Activities such as meditation, practicing sports, going to museums or learning something new are very important in expanding your mind and coming up with new ideas.

6. Leadership

The leadership aspect cannot be limited to the entrepreneur.

Good professionals who intend to have their own business understand that leadership is the ability to inspire and motivate actions in a group of people.

It’s also possible to improve your leadership skills, prioritizing aspects such as being open to new ideas, having a thirst for knowledge and emotional balance.

And also taking the opinions and wishes of the group into account whenever possible, considering that each person is important in order to achieve the desired goals.

7. Patience

Patience is an important ally when it comes to entrepreneurial skills.

Feeling anxious about results is normal; after all, you want your business to be successful.

But, a good dose of patience is what many times ensures the future of a company.

That’s because maintaining your calm and balance even during the most difficult situations, guarantees the continuity of your business.

You avoid taking impulsive actions and are able to look at the entire process as a learning opportunity. In addition to understanding and using your time suitably to your benefit.

8. Ambition

Lots of people confuse greed with ambition, but they are quite different in fact.

While greed is the desire to have everything you want in a selfish manner, ambition is a motivation to achieve your goals.

Being an ambitious person means that you have a purpose.

Entrepreneurs use their ambition in their favour.

Ambition can work as a booster. It’s good to know where you want to go in order to focus on how to get there.

Therefore, it should include doses of courage and organization, as well as will power and confidence in your own dreams and potential.

9. Self-confidence

If you want to have your own business, you need to believe in yourself.

Fear is an entrepreneur’s greatest enemy. Good ideas tend to get lost along the way due to a lack of confidence.

Doubts are bound to come up, but working on your self-confidence is essential to strengthening your skills.

It’s through it that you find the power to make difficult decisions and carry out projects.

And how can you have credibility with your customers, partners, and employees if you don’t feel confident about your own actions?

Being proud of yourself and knowing your potential, transforming your weaknesses into strengths, are traits an entrepreneur should keep in mind.

10. Persuasiveness

In entrepreneurship, persuasion is linked to how you relate to people.

Being a persuasive person goes far beyond convincing someone or selling a product or idea well.

This is a characteristic of those who have strategic relationships, who know how to lead and inspire other people.

Researching, developing arguments and being firm in your purpose will be an advantage when the time comes to convey your ideas and gain the trust of others.

Successful entrepreneurs are those who have a long-term vision and communication skills to convince others and consequently, transforming their surroundings.

Competencies and skills

It’s very important to stress the difference between competencies and skills.

A lot of people already have the attributes mentioned here, i.e., they naturally have these personality traits.

However, quite a few entrepreneurial skills are considered competencies, in other words, abilities can be developed with practice.

For example:

It’s usually really easy for people who are extroverted to communicate with others and form bonds.

However, communication skills can also be developed by all sorts of professionals, regardless of them being outgoing or not.

In fact, as you’ve probably noticed, most of these skills can be developed.

Of course, you don’t necessarily have to be the best at every single skill, after all, people are different and this is great.

The greatest virtue of good entrepreneurs is being ready to take risks and put their business ideas into practice.

You just need to be willing to take the first step and work hard!