7/15/2015 The17skillsrequiredtosucceedasanentrepreneur|OnlineBusinessIdeasforEntrepreneurs|BusinessPlan,Resources,TipsandStrategy|Entrepre

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The 17 skills required to succeed as an

entrepreneur
These must-have skills can make you successful in entrepreneurship.
By Sujan Patel | Jun 23, 2015

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1. The ability to manage money.

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Very simply, if you cant manage money, you cant manage a business. Do you
know where your money goes each month? Do you live off less than you earn?
If the answer to these questions is no, youll struggle to manage a business
budget as well.

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2. The ability to raise money.

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3. The ability to relieve stress.

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4. The ability to be productive.

This is a big topic, because theres no one right way to be productive that works
for everyone. Learn about your peak energy times, your routines, and the

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productivity tools that work for you in order to create your own plan for
success.

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5. The ability to make entrepreneur friends.

According to entrepreneur Jim Rohn, You are the average of the five people
you spend the most time with. So who do you want to be? Improve your odds
of success by finding entrepreneur friends who will be able to understand your
struggles and give you much needed insight.

UPCOMINGEVENTS

6. The ability to identify strengths and weaknesses.

As a business owner, you dont need to be perfect at everything. You do,
however, have to understand where youre strong and where youre weak.

JULY
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July 17 - 19, 2015

Assessing this will inform everything from the business decisions you make,

Megatrade Halls 2 & 3, SM

Megamall

to the partners you bring on, and to the employees you hire.

7. The ability to hire effective people.

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6thPhilippineBusinessand
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Speaking of hiring, this is easily one of the most important skills any

July 22 - 26, 2015

entrepreneur could have. Having great people on your team will give you

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access to new strengths, while also building a company culture that people

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want to be a part of. Hiring the right people is essential to get where you want
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8. The ability to train new staff.

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When you bring on someone new, a robust onboarding process will ensure that
they know what to do and not do. Not only will this help keep your company
moving the correct direction, it will increase the commitment level of good
employees and give you grounds to follow up on misconduct.

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your businesss growth, youll be everyones manager, so it pays to be effective.

If you dont already know how to manage, take the time to learn how to
motivate, encourage, and develop your staff.

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9. The ability to manage staff.

Once you have the right people, you need to manage them well. Early on in

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10.The ability to conduct basic SEO.

In the beginning, youll be doing the work of every business department. With
that in mind, do you understand basic SEO and digital marketing? If not, youll
want to brush up on this area before you launch a business.

11. The ability to A/B split test.

A split test is a simple process that involves running a scenario two ways to
test a possible change. Its commonly used to make websites effective, but it
can be used in many areas of project management and marketing as well.

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12. The ability to connect via social networking.

Along with SEO, social networks represent a key part of any businesss
marketing strategy. Not only will you need to understand each platform, youll
want to arm yourself with the best strategies for getting your startup and
personal brand noticed on each one.

13. The ability to focus on your customers.

To be clear, without customers, you have no business. Make sure all of your
pitches, products, and services are focused on actual customer needs. If you
dont know what these are, research and ask questions so that youre able to
give great customer service.

14. The ability to close a sale.

Letting customers know you understand their pain is important, but asking for
the sale is where many entrepreneurs get stuck. If youre nervous about this
step, try enrolling in a sales workshop to learn these much-needed skills.

15. The ability to spot new trends.

Business moves fast, so youve got to have the ability to see changes coming in
your industry. Make it a point to keep up to date on new startups and the
advances in technology that could be poised to disrupt your field.

16. The ability to deal with failure.

No business venture is a straight line to success; knowing how to deal with ups
and downs is essential. Remember that every successful person out there
failed dozens of times before getting a win. Failure isnt the end - its just a data
point on the way to success.

17. The desire to improve your world.

In the end, the best and most enduring motivation is to make a positive change
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in the world. When you focus your business and your success on that top
priority, youll find yourself ready to weather any storm to meet the goal.

Dont let this list intimidate or discourage you. Being an entrepreneur is a big
task, but all of these skills can be learned. If you notice one youre lacking in, go
get it! Your eventual success depends on it.

Related:These 10 Peter Drucker quotes may change your world

Copyright 2015 Entrepreneur Media, Inc. All rights reserved.

This article originally appeared onEntrepreneur.com. Minor edits have been
done by the Entrepreneur.com.ph editor.

PhotosfromFlickr(ChengXin),Pixabay(Unsplash),Freedigitalphotos.net(Khunaspix
andstockimages),andPicjumbo(ViktorHanacek)

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