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Discussion on: Skills, values, talents, abilities, and mind-sets required in an entrepreneur

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ShantaMilan

Entrepreneur is someone who runs a business or enterprise and should have certain personal traits that distinguish them from others. Sills, values, talents, abilities and mind-sets that are required for the challenging journey to become an entrepreneur and is something that is important to have.

Skills/talent

Both soft and hard skills are required. Soft skills such as communication, interpersonal skill etc. and hard skill are those that are directly related to the enterprise at hand. Hard skills are more of acquired academic knowledge. It has become evident that having soft skill or non-technical skill has even greater importance. Soft skills has more to do with communicative skill, problem solving skill, working and managing in teams, entrepreneurial skills, ethics, leadership skills, and professionalism (Sabri, 2014). Having both would be ideal but even if there are some skill missing it is important to cover this up with the ability to understand the sources to acquire and apply these.

Managing these skill traits as per the need of the situation would be the talent. Talent also calls for understanding and managing customers’ perception. It also has to do with managing financial and the limited resources.

Values

Values are developed over time and are based on principles. Values are respect that an entrepreneur receives over time, admiration that their followers have etc. It is something that makes a good leader and an entrepreneur should be a leader that aspires and shares thier vision with their followers.

Ability

One of the major ability for entrepreneur is to be able to adapt to situations and manage stress. It is said that every one in three entrepreneur face symptoms of depression. Achievement verses need, power verses need, and affiliation versus need are some of the major stress inducing agents in the world of entrepreneurs (Vasumathi, Govindarajalu, Anuratha, & Amu, 2003).

Mind-sets.

A strong mind-sets needs to be present in an entrepreneur. This is so because the goal of the venture should be attained no matter what the circumstance dictates. An entrepreneur should not be swayed with the highs and lows of journey but should be steadfast on the course. The first few years will be stressful and may want to stop the enterprise, this is where the strong mind set is required.

These are some important traits that are necessary in an entrepreneur.

References

Sabri, A. (2014). Soft Skill: Its Urgency and Development at Islamic Higher Education. Al-Ta’lim Journal; Padang , 239-251. doi:10.15548/jt.v21i3.109

Vasumathi, A., Govindarajalu, S., Anuratha, E., & Amu. (2003). Stress and Coping Styles of an Enterpreneur: An Empirical Study. Journal of Management Research; New Delhi , 43-51.