7 Things You Need to Learn to Become a Successful Entrepreneur

by Becky Holton | December 04, 2018

  • My Vault
woman on laptop startup on screen

To stay at the top of their game, entrepreneurs need be diligent when it comes to self-improvement. As an entrepreneur myself, I’ve learned several tips and tricks at different points in my career to give me an edge over the competition. Below are seven of the most important.

1. When to break the rules

Rules are made to be broken, and the best entrepreneurs are those who know the rules as well as when to break them. Sometimes it’s only by breaking the rules that you end up with new inventions and innovations.

2. When to quit and when to stick

It doesn’t take entrepreneurs long to develop a sort of sixth sense about when it’s time to stick with something and when it’s time to cut their losses. It’s a delicate balance to find but getting it right will save you a lot time on lost causes and let you better prioritize your work.

3. How to live on a budget

Entrepreneurial life isn’t always easy, and sometimes money and resources will be tight. If you can get used to living on a budget in your early days, it’ll hold you in good stead when times get tough. It’ll also teach you more about budgeting and finances.

4. How to find a mentor

Many of the top entrepreneurs are only where they are today because they learned from yesterday’s leaders. Having a mentor allows you to learn from their mistakes without having to repeat them. It also gives you access to new insights and knowledge that you might not previously have had access to. Plus, it’s always nice to know that someone’s got your back.

5. How to read people

Developing your communication skills and learning to read people will pay off in your personal life, as well as in your professional life. Remember that many entrepreneurs also find themselves acting as managers, and when you’re managing people, you need to have top-notch people skills and to lead by example. Otherwise, you won’t inspire them to reach their full potential.

6. How to make friends

They say it’s not what you know, it’s who you know. Perhaps that saying is a bit cliché, but the message is true enough. Making friends with other entrepreneurs will help you feel like part of the overall community. It can also lead to business deals and referrals. One great way to get noticed and to be remembered is to help other people out without expecting anything in return.

7. How to acquire (and teach!) new skills

Life is a series of lessons, and there’s always something for you to learn if you’re willing to put in the time and effort. Keith Springs of ProEssayWriting says, “We’ve witnessed a big increase in employee retention and engagement ever since we started running optional lessons on everything from web development to pottery, cooking, and more.” If you start running lessons for employees, then you can take advantage of them yourself. Also, being the one who teaches the lessons forces you to know your subject matter inside and out.

Becky Holton is a journalist and a blogger. She is interested in education technologies and is always ready to support informative speaking. Follow her on Twitter.

Filed Under: Education | Job Search | Workplace Issues

Tags: entrepreneur | entrepreneurial skills | entrepreneurship | starting a business | startup

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