Building a better tomorrow –

Starting today

DEVELOPING ENTREPRENEURIAL SKILLS

Knowledge is only potential power. Real power is when you put your knowledge into action! To achieve financial freedom you need to take action!

Who is an entrepreneur?One who undertakes innovations, finance and

business acumen in an effort to transform innovations into economic goods

A person who can identify, find and solve a problem or meet a need

What are entrepreneurial skillsSkills that are required by a business owner

to start, develop, grow and succeed in the running of his business

They ability to master these skills vary from one entrepreneur to another

These skills can be learned and developed over time

Entrepreneurial skills include; personal skills, communication skills, negotiation skills, leadership skills, sales & marketing skills, financial management skills, and administrative skills

Why do you need entrepreneurial skills?To enable you to start, develop, finance, and

market your business enterprisesTo develop and to truly succeed in businessAllows you to have a lot of flexibility as a

business owner

Personal skills"It takes 20 years to build a reputation and only five Minutes to ruin it. If you think about that, you will do things differently." – Warren BuffettPersonal skills are the characters (habits)

possessed by successful entrepreneursBeing in the right mindset; abandoning the get

rich quick mentality Other personal skills such as; integrity,

courage, passion, perseverance, determination to succeed, punctuality

Ability to think outside the box

Communication skills"Your words have the power to start or

quench passion.” – John Mason"If the customer says they are not interested,

it means you are not interesting." – Jeffrey Citomer

Remember the fact that you are talking doesn't mean someone is listening; therefore you have to make what you are interesting enough to hold the listeners attention and convincing enough to make him buy what you are selling

Negotiation skills"If you cannot negotiate, you will end up getting good deals at exorbitant prices or worse still, you will get nothing." – Ajaero Tony MartinsIn business you have to negotiate with

customers, suppliers, bank managers, investors, even family members

This skill can be learned at public speaking seminars, school, on the job

The most important is not to be afraid of rejection

Leadership skills"In business, leadership skill is not an option.

It's a necessity." – Rich Dad"Good leadership consists of showing average

people how to do the work of superior people." – John D. Rockefeller

"Business is not just doing deals; business is having great products, doing great engineering and providing tremendous service to customers. Finally, business is a cobweb of human relationship." – Henry Ross Perot

Sales & marketing skills"A man's success in business today turns upon his

power of getting people to believe he has something they want." – Gerland Stanley

"The ability to sell is the number one skill in business. If you cannot sell, don't bother thinking about becoming a business owner." – Rich Dad

Selling is a very important part of life and not just business. We all have something we are selling whether as an entrepreneur, employee, family, believer, man, woman (lol)

You must be able to convince me to buy what you are selling even if I don’t need it

Financial management skills"Financial planning is the process of meeting

your life goals through the proper management of your finances." Certified Financial Planner Board of Standards

You are in business to make money. Therefore, you must have the ability to handle money well

You need to be able to manage the flow of money in and out of the business

Administrative skills“On the mountains of truth you can never climb in vain: either you will reach a point higher up today, or you will be training your powers so that you will be able to climb higher tomorrow.” Frederick NietzscheGeneral running of a business and creating

orderManaging, book keeping, record keeping,

delegation, customer service are all part of business administration

How or where do you develop this skills?"Skills make you rich, not theories." – Rich DadFormal education and trainingPaid employmentMentoringInformal education (from parents, experience

and challenges)VolunteeringInternet

George Washington“Nothing is more harmful to the service, than the neglect of discipline; for that discipline, more than numbers, gives one army superiority over another.”