By Kibet Tobias
Most people are dissatisfied with their jobs and they about think of starting a businesses in Kenya. However, they don’t know where to start to make these business ideas into reality. After all, there are those that start businesses and close down after sometime.
If you approach your business with the required skills, consistently delivering your services, you’ll undoubtedly enjoy the fruits.
In the meantime, what are the entrepreneurial skills required for every business to succeed? How do you improve them?
Proven Skills Every Entrepreneur Must Have To Succeed In Business
1. Financial Management
This is one of the most important skill for every entrepreneur. Remember, knowing how to manage your money and business is key to succeess in life.
In your daily operations as a business owner, you will be making decisions affecting it’s financial performance, whether, hiring and firing personnel, preparing budgets, approving capital investments, or sending invoices.
Therefore lack ability to manage finances exposes your business to the risk of becoming unsustainable or even bankrupt.
It is good to develop discipline especially when it comes to personal and business expenditures. Learn the practical ways that’ll help you increase your income and eventually keep your business pushing forward into the future.
If you can’t genuinely understand and empathize with your customers, better not to start a business. It will fail in the end.
Empathy in business will help you assess your customers’ challenges, identify their pain points and gauge whether or not they will willingly pay for your solutions. According to research, lack of business empathy is the leading cause of business failure.
In your daily operations, your customers will know whether or not you truly care about them.
You’re not running a business for yourself; it’s really for your customers, the people who need their problems solved. You can’t second guess what a customer wants. Remember it doesn’t cost much to get customer feedback, and it’s always going to be beneficial to your business.
3. Sales skills
A business that can’t sell its products or services is quickly going to close. Regardless of who you are and what business you are starting, you need selling skills to get by in the business world.
If you want to be a successful entrepreneur, you must persuade target customers to buy your products or services.
4. Personal Branding
As much as you are building the company brand, also focus on building your personal brand.
This will differentiate you from your competitors giving you authority and credibility in the market place.
5. Social networking
Social networking plays an important role in any business’s marketing strategy. How will you make your business and personal brand noticed without establishing viable networks?
One effective ways to do this is attending trade shows, events and exhibitions to showcase your products.
6. Stress Management
If you want success in the business world, it never comes easy. You will get disappointments, struggles and stress. So expect these setbacks.
But if you allow them to frustrate you as an entrepreneur, you will not succeed. You should be able to devise ways of relieving stress anytime.
Stress and failure happens to the best of us and you can accept it. Do not flee from it and forego the opportunity to shine in the business. Remember Successful people use failure to push their own personal limits.
The writer is a content writer at Career Point Kenya. For any related queries contact firstname.lastname@example.org Or comment on the section below.