An Entrepreneurial Skillset
- By Russell Dalbey
- Published January 21, 2009
- Business
- Unrated
Russell Dalbey
In 1995, Dalbey Education Institute founder Russ Dalbey set out to provide customers with the highest quality of wealth-building products, services and networking resources for buyers and sellers of real estate and all other cash flows.
View all articles by Russell Dalbey
Deeply ingrained in American culture is the tradition of self-made success through hard work and perseverance. It is no wonder that even those that are content with their present career path contemplate continuing that path under their own moniker; if they love what they do for someone else, they will love it even more when it is done with their interest in mind. It may not be an overstatement to say that nearly everyone has daydreamed of branching out on their own but it would certainly be an overstatement to say everyone is well suited to doing so.
While having the ideas and the desire to launch one's own business is the natural starting point, there are a variety of additional skills a person must possess to take their start-up business and turn it into a certified success. Chief among these skills are self-motivation and organization. As your own boss there is no higher up to enforce time lines, schedules, and deadlines; you are the source of all your business's successes and failures.
It is therefore crucial that you have clear goals and a clear plan of action to achieve those goals. Taking the time to write down your professional goals and your plan to achieve them will help you stay on task towards accomplishing them. Even those who work in an office environment might suffer a bout of procrastination here and there, but this can be a much more significant problem for the home entrepreneur. The lure of a favorite television program or a letter from a friend, even less inviting tasks like laundry, have provided many well-intentioned home business professionals the necessary tools to fail. Having organized plans for both long-term and daily operation and periodically reviewing and adjusting can help keep the motivation to succeed high.
A skill related to keeping your goals and plans organized is keeping the required administrative tasks organized. Having an easily discernible method of organizing
paperwork, client lists, order forms, business banking accounts, and tax information allows you to focus on the information you need to run your business instead of locating the information your need to do so. Take some time to determine what type of filing system, hardware (computers, fax machines, or even filing cabinets) and software (computer programs) you will need to effectively and efficiently carry out your administrative duties.
While administrative, organizational, and motivational skills are of extreme importance, they tend to be more behind the scenes actions. Equally important are those skills that produce a more tangible effect: marketing and sales skills. Being able to identify, target, and reach your customer base is the backbone of any business's success – without customers a business owner has little chance of enacting their carefully tailored plan.
The last major piece to the puzzle is financial know-how - knowing where to put your money to get the biggest return, and how to reinvest that return to see your business grow. It is an unfortunate reality that many highly motivated business owners with sturdy customer bases, strong organizational skills see their businesses run to the ground because of mismanaged funds. Meeting with a financial planner and accountant to formulate a realistic budget before opening for business, and periodically as the business grows is a fantastic way for entrepreneurs to develop the financial skills necessary for developing a sustainable business.
Turning dreams of successful business ownership into concrete realty is a delicate balancing act that requires innate talent and learned skill. Entrepreneurs must be highly motivated to balance financial insight, keen organizational and administrative skills with an ability to identify and relate to customer bases through sales and marketing. It is no wonder that many would-be entrepreneurs decide to let someone else write their paychecks but for those that do possess these skills (or a means to acquire them) there is a world of opportunity before them.
While having the ideas and the desire to launch one's own business is the natural starting point, there are a variety of additional skills a person must possess to take their start-up business and turn it into a certified success. Chief among these skills are self-motivation and organization. As your own boss there is no higher up to enforce time lines, schedules, and deadlines; you are the source of all your business's successes and failures.
It is therefore crucial that you have clear goals and a clear plan of action to achieve those goals. Taking the time to write down your professional goals and your plan to achieve them will help you stay on task towards accomplishing them. Even those who work in an office environment might suffer a bout of procrastination here and there, but this can be a much more significant problem for the home entrepreneur. The lure of a favorite television program or a letter from a friend, even less inviting tasks like laundry, have provided many well-intentioned home business professionals the necessary tools to fail. Having organized plans for both long-term and daily operation and periodically reviewing and adjusting can help keep the motivation to succeed high.
A skill related to keeping your goals and plans organized is keeping the required administrative tasks organized. Having an easily discernible method of organizing
While administrative, organizational, and motivational skills are of extreme importance, they tend to be more behind the scenes actions. Equally important are those skills that produce a more tangible effect: marketing and sales skills. Being able to identify, target, and reach your customer base is the backbone of any business's success – without customers a business owner has little chance of enacting their carefully tailored plan.
The last major piece to the puzzle is financial know-how - knowing where to put your money to get the biggest return, and how to reinvest that return to see your business grow. It is an unfortunate reality that many highly motivated business owners with sturdy customer bases, strong organizational skills see their businesses run to the ground because of mismanaged funds. Meeting with a financial planner and accountant to formulate a realistic budget before opening for business, and periodically as the business grows is a fantastic way for entrepreneurs to develop the financial skills necessary for developing a sustainable business.
Turning dreams of successful business ownership into concrete realty is a delicate balancing act that requires innate talent and learned skill. Entrepreneurs must be highly motivated to balance financial insight, keen organizational and administrative skills with an ability to identify and relate to customer bases through sales and marketing. It is no wonder that many would-be entrepreneurs decide to let someone else write their paychecks but for those that do possess these skills (or a means to acquire them) there is a world of opportunity before them.