It does not matter whether you are working from your garage or a startup office space downtown; entrepreneurs are a different breed of business professional. For better or worse, starting something from the ground up requires a different mindset when you want to maximize your chances for success. While technological business startups have had the most exposure in terms of success, the qualities these tech industry leaders possess are universally necessary for all industries and markets.
No matter the quality of your idea or resources you have access to, it’s the type of leadership and work-ethic you have that determines whether or not your vision comes to fruition. Here are four prime qualities to look out for when starting your own business or joining a startup business on the ground floor.
Strong Social Skills
Traditionally this particular skill gets nestled in the management or sales category. Supervisors need the ability to communicate with their team members and subordinates in order to lead and inspire. Salespeople, especially entrepreneurial salespeople, need the ability to communicate their startups’ vision and purpose effectively, if only for investment possibilities. The digital age has turned this skill set into its very own category in business, especially regarding entrepreneurs.
With the invention and widespread use of social media, the work of communication has grown from handling statements to the press to something much more necessary. Entrepreneurs not only need the ability to interact well with their team members and other professionals, thanks to social media the public can have access to your brand 24 hours a day, 7 days a week.
As an entrepreneur, can you generate interest for your small business using the internet? Are you able to attract an audience toward your products or services? Do you know how to engage the public in order to build your brand? These are qualities that are exceptionally valuable for entrepreneurs in the current digital age, both in tech and otherwise. Not only have digital tech companies embraced the importance of showmanship and engagement but so have companies that operate in other sectors of industry.
While typically falling under the larger business term “soft management” the quality of emotional maturity has grown in importance. For entrepreneurs of this day and age, this one quality has become exceptionally important for a small business’s future growth and professional reputation.
Mass communication has become as simple as pulling your smartphone out of your pocket. Even the President of the United States utilizes Twitter to communicate with the people more often than the White House briefing room. It’s never been more important for someone who wants to build something reputable to possess self-control. Any quality marketing plan includes a social media aspect, but sites such as Facebook, Twitter, YouTube, and Instagram are a double-edged sword.
Social media can generate mass awareness towards your small business and entrepreneurial efforts, but that exposure goes both ways. No matter how few in number negative reviews are a possibility and you must be able to handle these interactions effectively. If you require a compelling example, take a look at the fast food burger chain Wendy’s and how they handle their social media presence.
While it’s vital that an entrepreneur possesses effective leadership skills, self-motivation ability, flexibility and decisiveness as qualities for success – emotional maturity has become crucial for those who wish to build their own business.
Tactical Thinking Ability
Business tactics. Being capable of marketing your product in the right place, at the right time. The quality of not only knowing a good idea when you hear it but knowing what industry it belongs in. Even something as basic as location requires this ability. As an entrepreneur you may not have access to an impressive long-term office space to work and operate, but what if a potential investor comes around? Are you going to have a meeting in your parent’s kitchen? If it works out, you have a great story for the company’s history, if not…
It does not take years to establish a successful company any longer. The digital age has made it possible for overnight success in a very short amount of time possible. What are you going to spend your money on? What department are you going to staff next? Where’s your business going in the next two years? Five years? Ten years? As an entrepreneur, your future success depends on your long-term thinking just as much as your short-term plans.
Consistency & Innovation
FOMO – Fear of Missing Out – has been very good for entrepreneurs in multiple industries. It’s why smartphone apps are predicted to grow into an almost 200 billion dollar industry by the year 2020. As an entrepreneur, you must have originality on your side, even if you are following a formula. Innovative marketing can make your product or service seem brand new, even if it’s not. An original presentation can make people feel a desire to join or participate in what you’re doing or offering.
Prioritize originality and innovation, but never forget consistency. Make sure your brand gets out there, as often as possible, as widely as possible. You want an awareness of your business website’s traffic. You want to know how often your social media pages are visited and the amount of participation takes place on them. As an entrepreneur should always have an offer, an announcement, or a display for your audience and industry to advertise your brand.
These are not the only qualities that entrepreneurs should have, but in regards to the time and culture we live in, these are some of the more important qualities. Consider some other skills or qualities that aspiring entrepreneurs or small business owners should have for success and professional growth.