In the movie Swades (2004), Shah Rukh Khan plays the role of a non-resident Indian who visits India to meet his nanny. He plans to bring the nanny back with him to the States but comes across the electricity inconsistency problem in the village. He extends his stay and sets up a power generation unit. The character’s entrepreneurial spirit moves him to take action and solve a common challenge faced by everyone in the village.

This is why entrepreneurial skills are important—irrespective of whether or not you own your own business. Let’s see, in detail, what are entrepreneurial skills and how to develop them.

 

  1. What Does ‘Being Entrepreneurial’ Mean?

  2. What Are Entrepreneurial Skills?

  3. How To Develop Entrepreneurial Skills

What Does ‘Being Entrepreneurial’ Mean?

In the era of digitally-driven startup businesses, we often associate entrepreneurship with the start of a new business. Being entrepreneurial has more to do with the mindset—the way you think and do things differently. You can be entrepreneurial even if you’re working for someone else. It means that you have the characteristics often associated with entrepreneurs such as self-confidence, need for achievement, flexibility, perseverance and responsibility for your own destiny. Being entrepreneurial means thinking outside the box and learning from failures and moving forward.

Entrepreneurial thinking includes the following characteristics:

  • Thinking ahead and having a vision for the future

  • Seeing opportunities in not-so-obvious scenarios and exploring them

  • Meeting people from different walks of life, growing a network and broadening perspectives

  • Seeking guidance and support in the form of mentorship—to visualize a goal better

  • Being agile, adaptable and finding new ways to adjust to changing circumstances

Anyone can have an entrepreneurial spirit as long as they prioritize self-development by seeking opportunities and being innovative, resourceful and flexible.

What Are Entrepreneurial Skills?

Whether you’re about to start your own business or help someone grow theirs, entrepreneurial skills can help you achieve goals with greater efficiency. Here is a list of basic entrepreneurial skills that’ll help you take stock of your strengths and weaknesses and focus on your priorities.

  1. Strategic Thinking

Innovation is one of the most important entrepreneurial skills. Finding creative solutions to problems lies at the heart of entrepreneurship. When you think strategically and break a problem down, you will see the low-hanging fruit of new opportunities.

  1. Time Management

Time is of the essence for driving and achieving organizational goals. You need to plan, define milestones and execute action items by allocating time and prioritizing tasks. You can progress successfully when you know how much time something will take to complete.

  1. Efficiency

High efficiency yields good performance. In addition to time management, staying organized helps focus on priorities. Goal-setting and measuring progress helps in tracking growth. Moreover, motivation and a morale boost can improve productivity and efficiency. Find ways to keep yourself encouraged and interested.

  1. Resilience

There will be times when you face rejection, lose focus and face burnout in your professional journey. A healthy entrepreneurial spirit will encourage you to deal with setbacks and overcome obstacles. Resilience teaches you how to pick yourself up, dust yourself off and move ahead.

  1. Communication And Networking

Clear communication is integral to building interpersonal relationships. Whether it’s your coworkers or external clients, every interaction counts. It helps you grow your network and expands the scope of business or employment opportunities. Communication is one of the top-priority entrepreneurial skills.

  1. Teamwork And Leadership

Being entrepreneurial means taking initiative and taking on leadership roles. Whether you’re your own boss or working for someone else, leadership qualities help in motivating your team. Continuous guidance and support are valuable traits of a true leader.

  1. Curiosity

The zeal to step outside the comfort zone and pursue lifelong learning are traits that define a successful entrepreneur. To explore new opportunities, you need to be curious, proactive and motivated. You need to encourage out-of-the-box thinking and discover new ways of problem-solving and decision-making. Being passionate about your work helps greatly.

By strengthening these basic entrepreneurial skills, you’ll not only focus on your end goals but also discover opportunities for personal development.

How To Develop Entrepreneurial Skills

People resort to multiple ways to build and improve entrepreneurial skills. Here are some effective strategies that’ll help with the process.

  • Take a different path and try to come up with new ways to solve a problem

  • Don’t let challenges discourage you; put a fair fight and make use of all available resources

  • Volunteer to lead and show initiative whenever you can; leadership and proactiveness are key entrepreneurial skills

  • Seek a sounding board for your ideas—learn from a mentor who can advise you about pursuing opportunities

  • Take a course that helps grow your management and leadership skills; find other professional networks through workshops and seminars

It’s evident that leadership lies at the heart of true entrepreneurial spirit. Leadership isn’t only about managing teams and delegating responsibility but also how you take charge and face challenges. Harappa’s Leading Self course will teach you how to take ownership and make room for new learning opportunities. It will help you improve your performance by overcoming internal and external obstacles in the way of your true potential. Cultivate a growth mindset and step outside your comfort zone. Pursue your entrepreneurial spirit today!


Explore topics such as What Is Entrepreneurship, The Importance Of Entrepreneurship & the Difference Between Entrepreneur And Entrepreneurship from Harappa Diaries to advance in your career.

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