Important Skills Entrepreneurs Need With Examples
Local, state, and national economies rise and fall on the growth of entrepreneurship. New businesses create more jobs and introduce new ideas that solve problems in better ways.
Entrepreneurship also makes the marketplace more competitive so that outdated thinking is challenged and doesn’t restrain society from growing and developing.
More and more, companies want employees with that same entrepreneurial spirit.
Whether it’s launching your own enterprise or being the kind of tenacious project manager who sees a goal through regardless of the odds, having an entrepreneurial spirit can help you succeed.
What Are Entrepreneurial Skills?
Entrepreneurs are people who start their own business. They're known for embracing risk, having big ideas, and making major innovations that change how others do business. While anyone who starts a business has a bit of the entrepreneurial spirit, true entrepreneurs are distinguished by vision and transform our collective quality of life.
If you’re considering launching your own business, or if the job you seek calls for an entrepreneurial spirit, you'll want to review this list of the top skills for entrepreneurs.
Types of Entrepreneur Skills
Entrepreneurs are known for thinking outside the box. Anyone can start an online business or a storefront; it takes Jeff Bezos to conceive of Amazon.com, incorporate drone delivery and streamed media, and supply nearly any item consumers can think of.
Entrepreneurs see things differently. They are not afraid to try solutions that most people either fail to consider or are too afraid to try.
- Emotional Intelligence
- Ability to Understand Root Problems
- Identify Causes
- Thinking Outside the Box
- Building a Team
Entrepreneurs often have an evangelistic quality along with strong leadership skills. They have great ideas and are skilled at getting buy-in from investors and employees.
If you're applying for a role that requires an entrepreneurial spirit, provide examples of times you got staff on board with a plan that was a tough sell.
Entrepreneurs often seem more comfortable with risk than are other business leaders. Taking risks can lead to tremendous failures but also to stunning successes. Entrepreneurs are willing to live without a steady paycheck and make short-term sacrifices for a long-term payoff. That said, the risks that entrepreneurs take are calculated and aren't simply done for the thrill.
- Risk Management
- Pro Forma Statements
- Sales Forecasts
- Break-Even Analysis
- Ongoing Improvement
- Growth Mindset
- Stress Tolerance
Strong Work Ethic
Being an entrepreneur may seem flashy and exciting. But a lot of long hours are required to launch something. To be successful, entrepreneurs must execute. You'll often hear stories of entrepreneurs who begin their workday well before sunrise or send middle-of-the-night emails. Entrepreneurs are relentless when it comes to completing projects and following through on the work required to turn ideas and plans into sellable products.
- Building Business Plans
- Project Management
- Work Independently
More Entrepreneurial Skills
- Business Storytelling
- Compulsion to Succeed
- Computer Skills
- Critical Thinking
- Decision Making
- Logical Thinking
- Nonverbal Communication
- Problem Solving
- Relationship Building
- Social Media
- Strategic Planning
- Team Building
- Time Management
How to Make Your Skills Stand Out
Add Relevant Skills to Your Resume: If you are seeking a job that requires entrepreneurial skills, you can use these skill words in your resume.
Highlight Skills in Your Cover Letter: In the body of your letter, you can mention one or two of these skills, and give a specific example of a time when you demonstrated those skills at work.
Use Skill Words in Your Job Interview: Make sure you have at least one example for a time you demonstrated your entrepreneurial skills.