Do You Have the Key Skills of Entrepreneurship?   Leave a comment

There are hundreds of things you need to know how to do to be a successful entrepreneur, but the most important ones are these:

High Risk Tolerance: You have to be able to stare into the abyss of entrepreneurial uncertainty and not falter.

Excellent Salesmanship: You absolutely have to have at least a little Steve Ballmer in you to be successful as an entrepreneur. You may have the greatest invention in the world, but if you can’t communicate its importance to a variety of constituencies (customers, employees, suppliers, lenders), you’re not going to succeed.

An Independent Temperament: Entrepreneurs consistently go against the tide. They start companies when others are retrenching; they don’t care about being rejected time and time again; and they trust their gut.

Great Negotiating Ability: If you negotiate well for everything from a store lease to contracting services to website design, you’ll realize that every dollar saved keeps your business in business through the peaks and valleys of cash flow.

Emotional Intelligence: This is a term coined by behaviorist and author Daniel Goleman. “EI,” as it’s often referred to, is a set of skills that allows you to understand and influence the behavior of yourself and others. Being able to listen, reason with and persuade is different from being a good negotiator but just as important.

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