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Competencies Required of An Entrepreneur

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Joeyvie Matnog
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71 views2 pages

Competencies Required of An Entrepreneur

Uploaded by

Joeyvie Matnog
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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COMPETENCIES REQUIRED OF AN ENTREPRENEUR

Risk Taking
-the willingness and ability of entrepreneurs to make decisions and take actions that involve
uncertainty, potential loss, and the possibility of failure.
2. Business Management skills
Business management skills are attributing a person running a company uses to help the
company and its employees reach a goal and improve.
3. Leadership skills
-.Being able to inspire colleagues, empower the workforce and lead from the front requires
excellent leadership skills. Exemplary leaders lead by examples and can take a leadership role
and work as a part of a team.
4. Financial Management skills
-The ability to handle resources, assess investments, calculate is a must for entrepreneurs. Apart
from this, they must know how to use accounting and budgeting software to keep track of all
the financial processes.
5. Time management and organizational skills
- Entrepreneurs with time management and organizational skills understand different ways to
prioritize tasks and avoid procrastination.
6. Critical thinking skills
- . Critical thinking is an entrepreneur skill that objectively analyses the information and draws a
rational conclusion. It helps entrepreneurs assess a situation and come up with a logical
solution.
7. Problem solving skills
an entrepreneur must possess excellent problem-solving skills to handle stressful situations and
calmly identify alternate solutions.
8. Creative thinking skills
Creativity is a valuable yet underappreciated skill in the digital world. Creative thinking is the
backbone for innovation, and it forces employees to think differently.
9. Communication and active listening skills
- Every entrepreneur must be able to communicate effectively with clients, team members and
all other stakeholders. Whether through verbal communication during meetings or sending
reports and messages through emails about the project, entrepreneurs require superior written
and verbal communication.

10. Networking skills


- Networking involves building and managing relationship with other professionals to grow and
promote a business. Effective networking skills open up future opportunities and help build a
solid brand.

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