Is Entrepreneurship a Skill or a Trait →

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The traditional definition of an entrepreneur is “an individual who creates a new business, bearing most risks and enjoying most rewards. The entrepreneur is seen as an innovator, a source of new ideas, goods, services, procedures and business.” Being an entrepreneur isn't just acting on an idea that pops up; it is using the right skills to make that idea work.

Why have so many successful entrepreneurs started in sales? The answer lies in the unique skills and experiences that salespeople bring to the entrepreneurial table. These include building and maintaining relationships, effective communication, negotiation skills, and understanding customer needs and wants. Through their daily interactions with customers, salespeople develop a deep understanding of their needs and wants. This customer-centric approach, when applied to entrepreneurship, can be a game-changer. When salespeople are the main point of contact between the business and potential clients, they often act as entrepreneurs, leveraging their sales experience to drive business growth.

Successful salespeople have relationships and trust with their clients and often learn of their needs as they are developed. A seller of ingredients will learn of changes and needs for packaging or new equipment early in the new product development process. The first entrepreneurial step for that salesman is to find a source for these new items and a contract to represent or profit from the start in ongoing sales.

An entrepreneur is not just a person who identifies a need and starts a business to fill that void. They are the ones who, through their innovative new products, services, or ideas, create needs and demands that were previously unmet. This proactive approach to business, driven by creative ideas and solutions, is what sets entrepreneurs apart. They don't just respond to existing needs; they shape the market with their vision and ingenuity, inspiring others to do the same.

An entrepreneurial mindset is an attitude that means being open-minded, using critical thinking, and being resilient when times get tough. It also means anticipating needs and looking for solutions, not problems.

Entrepreneurial success comes down to knowing your product, understanding your customer, and having a personal drive for success. Understanding your customer is not just a part of the sales process; it's a key to unlocking their needs and wants and, ultimately, your success.

Social Media for Entrepreneurs →

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Social media helps increase brand awareness and creates a way to get your message out to the marketplace and show what your company does and what it stands for. Reinforce with your suppliers, employees, and potential customers that you exist. Even if you have some sales and think you are on track, you need to build momentum. LinkedIn, a great social and professional network, has an excellent article on How to Find What Social Media Channel You Should Be On.

Entrepreneurs know that if they “listen to the marketplace, it will tell them what to do.” That is a crucial motivation to becoming an entrepreneur, and it is often the people on the front line of business working with customers who get the best ideas. If you are already in business, social media is a tool to ask the customers how you are doing. A fancy way to say this is that you find your best beta testers on social media.

Social media allows you to follow your competitors, suppliers, and customers. Each source will have different viewpoints on your business segment, but you can gain insight that would take months and years to achieve without this tool. LinkedIn clearly states that they want to have a community that collaborates. By interacting with your connections, you build resources for your collaboration needs.

Your entrepreneurial community can offer advice and support, and you will often find yourself more trusting and willing to open up to your entrepreneurial peers. Some will become mentors, and often, there are support groups.

Connections Matter