7 Essential Survival Skills for Every Modern Entrepreneur

There are approximately 31 million entrepreneurs in the United States alone, and that number is expected to grow. After all, entrepreneurship has its own unique advantages—the ability to bring new ideas to life, the freedom to be your own boss, and the fulfillment you feel when you succeed.

But the likelihood of success also depends. Being an entrepreneur can be as rewarding as it is risky. Competition is ruthless, and new businesses often fail soon after starting. However, there are some survival skills that can be crucial when establishing an enterprise. Let’s see what they are and what you can do to increase your chances of success as an entrepreneur, fresh or experienced.

Passion

Passion is not a skill per se, but let’s be honest—it’s very difficult to build a successful business without having at least some interest in the field. And the more passion you have, the better. The most successful entrepreneurs often started with just an idea and had to be enthusiastic about it to convince others to join them.

Moreover, any new business is bound to encounter some difficulties, but passion can ease the pain of failure. When you’re engrossed in a passion project, it’s easier to get up and try again until you succeed.

Tech-savviness

Today, entrepreneurship cannot exist without technology. The two are interconnected to such an extent that if you want to succeed, you simply have to get used to some technology. And we encourage you to do so because technology simply makes life easier!

For example, as an entrepreneur, you may travel a lot for work-related matters, so getting an eSIM-compatible phone and an eSIM app to purchase inexpensive internet plans abroad can save you a lot of hassle and money. That’s technology right there.

Communication and listening

Entrepreneurship is a team exercise. It may be tempting to do everything yourself, and for a while, it may even work, but there will come a point when you’ll have to communicate with other people to convince them of your ideas or get their help.

Humans are a social species. We use communication to share ideas, and you need to be able to clearly and effectively express your thoughts, opinions, and concerns, both verbally and in writing, to build a successful business. Therefore, if you feel you’re lacking in this department, there’s never a bad time to improve.

Remember that effective communication is also about listening. You won’t get far by discouraging criticism. Listening to your teams’ concerns, doubts, and advice, which may not always align with your ideas, will ensure that your business can improve.

Leadership

An entrepreneur is a leader. Being a leader may seem easy, but the reality is that many leaders who think they’re good are actually…. not so good.

Being a good leader doesn’t mean exploiting your position of power but inspiring, motivating, and empathetic. Good leaders have good communication skills and emotional intelligence, enabling them to work with people, not just order them around. They can solve problems and resolve conflicts. This creates a positive work environment, and people tend to be more productive in that environment.

Branding and marketing

Marketing and branding are crucial for any company that wants to succeed. Without them, it’s very easy to drown in competition. People need to know about your company in order to even consider establishing a relationship with it.

As your company grows, you’ll probably hire PR and marketing teams, but that doesn’t mean you don’t need to have some knowledge of marketing strategies yourself. Good entrepreneurs are also good marketers and salespeople who can advertise and sell their own ideas. Besides, it takes time to grow a business, and you’ll probably have to advertise it yourself for a while before you can delegate it to other people.

Creativity

Some people consider creativity a trait we’re born with or not, but in our opinion, it’s also a skill that can be worked on. All people are creative to some degree. Creative thinking is simply a way of looking at things from different perspectives, and it’s certainly something that can be practiced.

Creativity can allow you to brainstorm with your team and consider things from unconventional perspectives, which can result in surprisingly effective solutions. Don’t be afraid to be creative and try to think outside the box from time to time.

Organization

Organization is a skill that is important for everyone, but even more important for entrepreneurs. Growing a business is time-consuming, and there’s a lot to think about. You need to be able to manage your time properly and prioritize because a day has only 24 hours, and you can’t do everything at once.

Good organization also means a good life—and becoming an entrepreneur doesn’t mean you stop being human. With proper time management and prioritization, you can grow your business while still having time to maintain a work-life balance and develop the skills mentioned in this article.