5 Skills That Every Successful Entrepreneur Should Possess

by Philip Acuña

Launching a startup isn’t easy. It’s a financial and emotional roller-coaster ride that few are willing to endure, and more often than not, the entrepreneur is forced to balance on the fine line between failure and success.

Being able to withstand these types of challenges and competitive environment isn’t for everyone either. Some say that real entrepreneurs are born, while others claim that its something you can learn through trial and error. What is certain however is that there are specific traits that all entrepreneurs posses to effectively navigate their way to success.

We spoke to five startup CEOs at different stages in their career and to find out what the most important skills are that every entrepreneur should have. Here’s what they had to say.

 1. Know When To Ask For Help

Know how to ask for help. Many entrepreneurs think they have to know all the answers and do everything themselves. The most important skill for a founder is to be able to recognize when they need help, identify the best question to ask or responsibility to delegate, and find the right person to help them.

Kevin Holmes, Founders Network

2. Micro and Macro Manage

If I were to pick one, it is the ability to zoom-in and zoom-out. One of the most important skills is to be able to become extremely detail oriented when needed, and to just as easily be able to understand the macro context, including the path ahead and the larger factors at play when needed. It is this flexibility to zoom-in and zoom-out that is essential for an entrepreneur.

Jahanzeb Burana, Nameless

3. Decision Making

Decision making. You are in a role to make decisions and lead people around you. There is no way your people can decide if you cannot lead them by example. That is why you should keep it in mind that every decision you make determines the path of your startup. Also keep it in mind that the worst decision is still better than not being able to decide at all.

John Kagit, Socialeyes

4. The Ability to Pivot

Entrepreneurs talk about strategy and focus as critical all encompassing skills when working within a startup. I believe this is true but I also think another key skill surrounds the ability to pivot and tweak strategy based on careful analysis as milestones are reached. The ability to pivot has profound effects on the outcome of your business since, in the early days, the business strategy is subject to unknown results.

Robert Sturt, TNU

5. Learn From Your Mistakes

All successful entrepreneurs must have the ability to learn from the past, and most importantly, not dwell on it.

Jim Alvarez, AuctionsByCellular

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