The Skills that Every Entrepreneur Must Have

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StrategyDriven Entrepreneurship Article |Entrepreneur Skills|The Skills that Every Entrepreneur Must HaveWhether you’re a homemaker turning a hobby into a business or a dedicated innovator looking to create the next big thing, there are certain basic skills that you can improve and build upon to enhance your chances of success. The simple fact is that most entrepreneurs have a great idea, yet have no idea how they can make this into a business. The following basic skills can be developed to enhance entrepreneurial businesses’ creative and innovative aspects.

Business management

You need to have a very good understanding of all the business functions if you are going to run your own business. The Bachelor’s in Business Management at Point Park is a great example of a professional means to create a great business knowledge foundation. Without a clear knowledge, understanding, and practical know-how of business processes and functions, it will be nigh on impossible to start your own business.

Teamwork/leadership

One of the top skills required by all those starting a business is leadership and teamwork. Being able to inspire others and create a solid working team has got to be one of the top skills to have and to practice ensuring that you have the team and drive to power the business.

Analytics and problem solving

In an age where data is taken so seriously, it is critical to have the understanding and knowledge to be able to gather and interpret data for the benefit of the business. Being able to think of solutions in an analytic fashion and solve problems are the must-have skills of any new business owner, and in the modern age, this cannot be done with big data.

Technology

There is a wide range of technology skills that every entrepreneur will need; those that are mentioned herein are the most basic that will be essential to have in place to then build upon. Cloud computing, mobile and remote access to work, smart and integrated hardware are essential for any new business. And last but not least, a clear understanding and appreciation of cyber security must be seen as part of these essential tech skills.

Communication and customer service

Communicating the brand story and benefits of the business to both customers and possible funders and investors is key to getting the business off the ground and keeping it there.

Time management

Linked to analytical thinking and problem-solving skills, a successful entrepreneur must be able to manage their time professionally. Keeping a detailed diary and using all the software at your disposal, such as Gantt charts and Workflow spreadsheets, will keep you on the ball and avoid you missing any critical meetings.

These are the skills that no entrepreneur can do without. Most can be learned and accessed in some form online, and the process of garnering the skills and starting the business can actually happen in tandem. However, it would be business suicide to expect to start and run a business without the skills noted herein, as these will be the foundational aspects that will keep your business running.

Tips To Break Into The Airbnb Market

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StrategyDriven Entrepreneurship Article |Airbnb|Tips To Break Into The Airbnb MarketThe Airbnb market is enormous, but there are no guarantees that you’ll be the next big thing. However, learning from other entrepreneurs who have succeeded in this space will increase your success chances. In this blog post, we highlight four tips to help you break into the Airbnb market and offer some advice on succeeding as an entrepreneur!

Look For Undervalued Properties

The best way to break into the Airbnb market is by finding undervalued properties. This can be done in a few ways: looking for areas that are growing and have a lot of potential or targeting currently underserved neighborhoods. By finding a place with lots of upside potential, you’ll ensure that your property will be in high demand.

Carefully Plan Your Renovations

Renovations can be costly, so it’s important to plan them carefully. When renovating for Airbnb, focus on features that will make your property stand out from the rest. This could mean adding unique amenities or focusing on high-end finishes. To keep costs as low as possible, try doing as much of the work yourself as you can. This way, you can keep your costs down through heavy equipment rental, sourcing your own material, and tackling labor yourself. It is essential not to do any work you are not qualified for, as quality is crucial when guests book an Airbnb.

Work Tirelessly To Become A Super Host

Superhosts are the cream of the crop when it comes to Airbnb hosts. They go above and beyond for their guests, offering excellent customer service and creating a truly unique experience. To become a Superhost, you’ll need to work tirelessly on your hosting skills. This means being responsive to inquiries, keeping your property clean and well-maintained, and being available to help guests with anything they need.

It’s also important to remember that Superhosts are always learning. So keep up with the latest trends in the Airbnb market, and make sure you’re implementing new features and amenities into your property.

Analyze The Airbnb Market In Your Area

It’s important to know your competition if you want to succeed in any market. When it comes to the Airbnb market, this means analyzing who your competitors are and what they’re offering. This information can help you decide on the type of property you should buy or renovate, as well as what amenities you should focus on.

You can also use this information to price your property correctly. If you’re aware of what similar properties are charging in your area, you can set a price that’s competitive while still making a profit.

It’s also important to stay up-to-date on the latest changes in the Airbnb market. This way, you’ll be able to make sure your property is always in high demand.

In conclusion, breaking into the Airbnb market can be daunting, but it’s not impossible. By following these tips, you’ll give yourself the best chance of success! Of course, the fundamental principles of entrepreneurship and business management are still key to success, so work tirelessly towards your vision, learn along the way and have fun every now and then.

What Makes A Successful Real Estate Agency?

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StrategyDriven Entrepreneurship Article |Real Estate Agency|What Makes A Successful Real Estate Agency?When it comes to selling to an individual or a group, you have to make sure you have a few things sorted. It doesn’t matter what your line of work or the vertical you’re in, you cannot get by through luck. Regarding real estate and getting deals done, you have to make sure that you know the business and have a great method of dealing with people. If you’re looking to generate leads and eventually create big sales, there will be multiple tasks in your way.

A successful real estate company runs like a well-oiled machine and will falter when things break down. You need to have the right plans, the right ideas, the right people, and the right attitude when it comes to buying and selling properties. If you’re interested, here are a few factors that go into a successful real estate agency:

High-Quality Communication Skills

You need to earn and win the trust of people you’re looking to work with. If they feel as though you’re not exactly a group that will get them what they want, they’ll move on and find another. This isn’t harsh, this is just nature. People want what’s best for them and they won’t lower themselves just in case they upset you. Focus on your ability to connect with people and look to expand your charisma. This will make such a big impact.

Compassionate And Driven Agents

You can’t just be interested in making a commission. You have to really care about the job and the people you’re working for. If you have a passion for selling, then it makes this line of work so much easier for everyone. Finding homes for people is honorable and you need to recognize that.

An Extremely Professional Online Presence

It’s not just the physical office that matters, you’ll need to make sure you’re doing all the right things online, too. Look at the likes of Compass real estate and plenty others – their standards are high and their sites look extremely pretty. They’re easy to work with and easy to get in touch with.

The Ability To Find The Perfect Place

Everyone needs a home, but we’re in a world where any old home will not do for everyone. A home has a personality just like a person does, so you’ll need to match the home with the client. You won’t get too far if you try to cram people into homes that do not exactly sit well with them.

The Ability To Get Deals Well And Truly Over The Line

Closing deals is all part of the game. If you’re not doing this, then you’re going to go out of business pretty quickly. You need to do all of the above, but it’s all about getting the people into the homes that would fit them perfectly. You’re not exactly in the business of speedy turnovers and shoehorning people in, but you cannot afford to dither for too long. Promoting the perfect home and getting the perfect buyer is a skill.

7 Ways To Come Off As Professional & Trustworthy As A Sole Trader

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StrategyDriven Entrepreneurship Article |Sole Trader|7 Ways To Come Off As Professional & Trustworthy As A Sole TraderIf you are a one-man band, it can be difficult to get clients to trust you. People are often more inclined to do business with bigger companies, as it feels a lot safer than relying on one person. It is up to you to reduce this risk in their eyes by giving off more of a professional image and making your one-man band appear bigger than it is. Read on to discover how to go about it.

1. Invest in a professional telephone system – There are companies that can install a telephone system that is right for your business. Of course, it is unlikely that you will need a substantial system, as you only have one employee. However, if you merely put your own home phone number or mobile phone number, it can look unprofessional. It is better to choose a business system that comes with a number of features; for example, you could have a pre-recorded business message that is played while customers wait for you to answer.

2. Review the content on your website – Your website copy can make a huge difference. You need to ensure it resonates with your target audience while also giving off a professional feel. Instead of using “I” you should use “we” to show that your team is growing.

3. Outsource – It is incredibly difficult to do everything in-house when you are a sole trader. Outsourcing to the likes of an IT support company can help you to have a more professional image.

4. Create separate email addresses – This is one of the easiest and most effective ways to make your business look bigger than it is. You should have different email addresses for different areas for your business. For example, you could have an email address for support, complaints, and jobs.

5. Build your brand – If you want to give off a professional image, you need to work on building your brand. You need to ensure that your online presence is consistent. Your website should align with all social media platforms you use, so make sure the wording and images are consistent.

6. Use a virtual office – Using a virtual office is another way to make your business appear a lot bigger than it is. This means that you pay for an office location, but you don’t actually use an office – you can still work from home. What it means is that you get to benefit from a prestigious office address. This can do wonders for your corporate image, and will certainly make your company look a lot bigger and more credible.

7. Buddy up – Last but not least, another way to boost your one-man band is to partner up with a bigger company for a promotional event or a new product. Not only will this make your business appear bigger, but also it will help to boost your public image and create a stronger brand.

While there is nothing wrong with running a company by yourself, it can create a hurdle when securing clients. Use the tips mentioned above to break these barriers down.

Five Steps to Adopting a Beginner’s Mindset for Your Business

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StrategyDriven Entrepreneurship Article |Adopt a beginner's mindset|Five Steps to Adopting a Beginner’s Mindset for Your BusinessBusinesses often hire consultants to take a “fresh look” at things. It’s usually helpful to add an outside perspective to the inner workings of a business. But what if you could add a fresh perspective without having to outsource?

A beginner’s mindset is a Zen philosophy based on this logic: if you think you’re an expert, you’re more likely to dismiss the most obvious answer. And sometimes it’s the obvious answer that solves the problem.

When I’m new to a team or a company, I use that beginner’s mindset to learn by asking questions, understanding why things are done a certain way. Through that understanding the team and I can then develop new solutions that save time and money or create greater efficiencies or develop better processes. Here are a few ways you can implement this with your teams.

Break it Down

If a business process seems broken, analyze each step. Start with the basics.

Author James Clear emphasizes a beginner’s mindset for productivity in “Atomic Habits: Tiny Changes, Remarkable Results.” According to Clear, successful habits are developed gradually. For example, if you aspire to be more physically fit, you should start with a simple goal of putting on your running shoes several days in a row. The first two minutes make or break any habit, Clear says.

At Freeman, we streamline our supply chain by taking a beginner’s mindset and breaking down the process. The first step was to manage our inventory. Eventually, we transitioned to a national model with eight regional fulfillment centers, evolving from a local market model to a regionalized footprint.

Focus on the Why

Let’s say you own a car dealership and sales for compact cars are declining. Instead of brainstorming about promotions or marketing, you could ask your team: why do we sell compact cars? You might discover you’re selling them because they were popular 10 years ago, and nobody stopped to consider whether that was still the case. Asking the simple “why” brings you back to the beginner’s mindset, allowing you to reexamine your procedures from a fundamental perspective.

Remove Fear of Failure from the Equation

Fear of failure is one of the biggest obstacles people face in work and in life. People don’t worry about being perfect during their first day on the job, because they don’t know how to do anything yet. If you don’t know how to do something, you can’t fail — that’s the mindset you need. If you’re stuck, write down everything that could possibly go wrong, solve for it — then go forward.

Forget Perfection

Perfection is not the goal of the beginner, as beginners simply want to learn and get better. This is the key to success: constant improvement. Because perfection is impossible, holding yourself to that standard will only disappoint you.

Nobody has ever created a perfect company, nor trained a perfect employee.

Legendary NFL coach Vince Lombardi said, “Perfection is not attainable, but if we chase perfection we can catch excellence.”

Get Up if you Fall Down

Remember when you learned to ride your bike? You were a beginner. You knew you’d fall. But you also knew it would be impossible to learn how to ride unless you climbed back onto the seat. This lesson applies to the business world. Every failure is a learning experience that will help you achieve your goal, just as falling off a bike was a learning experience that taught you how to ride.

Nobody is ready to fall. But the more you fall, the better chance you have to succeed.

As Arianna Huffington said, “We need to accept that we won’t always make the right decisions, that we’ll screw up royally sometimes – understanding that failure is not the opposite of success, it’s part of success.”

How can you apply a beginner’s mindset to your business?

About the Author

StrategyDriven Expert Contributor | Janet DellJanet Dell is President and COO of Freeman, where she leads all Freeman business operations across the globe. With expertise in global sales, digital transformation, process improvement, and worldwide client management, Janet has the background and the vision to guide Freeman into a new future. She is a dynamic and empathetic leader who has succeeded by putting people first in the process of transformational leadership. She encourages her teams to embrace change through constant communication, continuous learning, pragmatic thinking, tenacity, and by cultivating and inspiring her teams to redefine live events. Janet joined Freeman in 2018 as EVP and first-ever Chief Growth Officer. Her dual-role leadership made a tremendous impact on strategy and performance. Her efforts to refine business processes, streamline systems, and adapt go-to-market strategies for a digital-first world positioned the company for growth. Before Freeman, Janet served as CEO of Marsh ClearSight, a global leader in risk, safety, and claims management software. Prior to leading Marsh Clearsight, Janet served as Marsh’s COO of Global Sales, where she was responsible for driving organic growth. During her tenure as Marsh Global Sales COO, the company’s annual new sales topped more than $1.2 billion and global new business doubled. Janet has been recognized as a Woman to Watch by Business Insurance magazine and has received several awards for product technology innovation. She is a proud graduate of the University of Wisconsin-Madison, where she earned a business degree in finance, investment, and banking.
To learn more visit, www.freeman.com. Follow Janet on LinkedIn.