 10. Skills You need to be a successful entrepreneur. A successful entrepreneur is someone who can achieve a set business goal. As defined on Medium, a successful entrepreneur is someone who has excellent communication skills for selling the products to customers and motivating the employees. Starting a business can be quite challenging. It takes people who are skillful and hard-working to eventually become successful entrepreneurs. Sean Raad, co-founder of Tinder Incorporated, said and I quote, When you are building a startup, it is difficult, particularly a startup that is expanding at the rate of Tinder. You have to give 100% and you have to be committed. Solving the problem has to be personal or else you're going to designate. To be a successful entrepreneur, you have to ensure that whatever product or service you are rendering must be valuable to your customers and potential customers. For instance, if you are a farmer, your goal is to feed as many people as possible. You don't plan too many crops just to feed yourself and your family, but to feed people. And because people have to eat, they will always purchase your produce. This means that your product is valuable to them. However, the fact that your product is valuable to people doesn't automatically make you a successful entrepreneur. So, what does? In this video, I'll share with you 10 skills you need to be a successful entrepreneur. This, I believe, will help you become a successful person. If you're new here, consider subscribing so that you won't miss other interesting videos like this. 1. How to manage finance To become a successful entrepreneur, you have to learn how to manage your finance, such as learning how to save, to learn how to take risks and also invest. You also need to have a plan for how and where to divert your profits when you start making it. For instance, depending on the nature of your business, you might wish to expand, open additional branches or invest in developing new products. The goal is to learn how to keep multiplying your income. So, set your priorities right and get help in financial management. 2. How to deal with failure The initial part of building a business involves failing at some things. Colin Powell, an American politician and retired four-star general in the United States Army, said there are no secrets to success. It is the result of preparation, hard work and learning from failure. No matter how well you've planned out your strategies or how great the people you've hired, an unexpected twist is bound to occur. And when it does, it will create problems that need to be overcome. So, you need to learn how to respond to failure and how to learn from your mistakes. 3. How to sell Remember our farmer example earlier. No matter how much produce he harvests from his farm, if he doesn't know how to sell it, he'll end up making a loss. Jill Conrass said, What differentiates sellers today is their ability to bring fresh idea. When you know how to sell, you'll be able to communicate clearly and effectively to your customers, investors or whoever you're dealing with. 4. How to network and build good relationships Meredith Mahoney said and I quote, Know where you want to go and make sure the right people know about it. Networking with others will give you a chance to expand the reach of your business and put your business in front of the right audience. Robert Kiyosaki, an American businessman and author said, The richest people in the world look for and build networks. Everyone else looks for work. Marinate on that for a minute. 5. How to innovate Business is all about innovating. No idea is completely new, but your ability to reinvent it will go a long way in determining the success of your business. Entrepreneurs should be able to think outside the box so they can rise above their competition and create products that customers will love. 6. How to deal with criticism The truth about business and generating new ideas is that people won't accept your ideas immediately. To become a successful entrepreneur, learn how to take criticism and deal with it positively. Understand the message they're trying to pass and use it positively to influence your brand. 7. How to hire effective people When you have great talents in your team, you'll have access to great strengths while also building a company culture that people want to be a part of. However, the process of hiring the right sort of people can be challenging. 8. How to take risks Helen Keller said, Life is either a daring adventure or nothing at all. Business involves taking risks. The very idea of starting a new business is a risk, but learning to take calculated risks to minimize errors will help you become a better entrepreneur. 9. How to negotiate In business, deals, contracts, partnerships and the likes will take place from time to time. So, what happens when you do not know how to negotiate? Negotiation is the process by which parties mediate differences. To learn how to negotiate, you need to understand your current position and what you desire to achieve from it. When you recognize this, you'll be able to create a strategy to help you negotiate better without dispute. 10. How to spot new trends Business moves fast and every industry comes up with one or two new trends every season. You don't want to be making fur jackets when everyone else is obsessed with the new bikini in town. Do your research if you have to but ensure that you recognize new trends in good time and make the best of it. Thank you very much for watching our videos. 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