Entrepreneurial Skills that Change Business in 2015 I #business #Entrepreneur #startup

Management SkillsWhat makes someone a successful entrepreneur? It certainly helps to have strong technology skills or expertise in a key area, but these are not defining characteristics of entrepreneurship. There’s a question that haunts every would-be entrepreneur – and many actual entrepreneurs – every day: “How do I know if I have what it takes?” Yes, the Internet is full of ideas, tips, tricks and even awesome quotes. But do you actually have the skills. While the debate rages on as to whether entrepreneurs are born or made, one thing can’t be disputed: polishing certain skills can help you be a better entrepreneur.

If you want to start a business, it’s essential to learn the specific skills that underpin these qualities. It’s also important to develop entrepreneurial skills if you’re in a job role where you’re expected to develop a business, or “take things forward” more generally.

In this article, we’ll look at the skills you need to be a successful entrepreneur, and we’ll explore resources that you can use to develop the traits needed for success.

Defining Entrepreneurship

Some experts think of entrepreneurs as people who are willing to take risks that other people are not. Others define them as people who start and build successful businesses.

Thinking about the first of these definitions, entrepreneurship doesn’t necessarily involve starting your own business. Many people who don’t work for themselves are recognized as entrepreneurs within their organizations.

Regardless of how you define an “entrepreneur,” one thing is certain: becoming a successful entrepreneur isn’t easy.

So, how does one person successfully take advantage of an opportunity, while another, equally knowledgeable person does not? Do entrepreneurs have a different genetic makeup? Or do they operate from a different vantage point that somehow directs their decisions for them?

Though many researchers have studied the subject, there are no definitive answers. What we do know is that successful entrepreneurs seem to have certain traits in common.

We will be discussing the following entrepreneurship criteria that build success for entrepreneur personality and business, which are:

  • Communication and Networking
  • Business and Personal Branding
  • Sales and Marketing for Business Success
  • Strategy and Decision Making
  • Finance and Account Management

In all the above points we will include a personality analysis that combine with the points.

  1. When you’re a solopreneur, you may think communication is less of an issue, since you don’t have staff to interact with. But you’ve still got to maintain clear lines of communication with your customers via email and phone, as well as ensure that the message you send through your website and social-media profiles is the one you want.

If you do have staff, communication is even more important. After all, poor communication skills can lead to decreased productivity with your staff, as well as low morale and opportunity for them to make more mistakes if they don’t understand your instructions. There is an opportunity to enhance your communication methods with your staff after you success building your business. Communication will give you as entrepreneur the ability to manage staff. Once you have the right people, you need to manage them well. Early on in your business’s growth, you’ll be everyone’s manager, so it pays to be effective. If you don’t already know how to manage, take the time to learn how to motivate, encourage, and develop your staff. Also communication will give you the ability to make entrepreneur friends. According to entrepreneur Jim Rohn, “You are the average of the five people you spend the most time with.” So who do you want to be? Improve your odds of success by finding entrepreneur friends who will be able to understand your struggles and give you much needed insight.

  1. Branding (personal and business). 

To start a correct branding, first, examine your personal characteristics, values, and beliefs. Do you have the mind-set that’s typical of successful entrepreneurs?

  • Optimism: Are you an optimistic thinker? Optimism is truly an asset, and it will help get you through the tough times that many entrepreneurs experience as they find a business model that works for them.
  • Vision: Can you easily see where things can be improved? Can you quickly grasp the “big picture,” and explain this to others? And can you create a compelling vision of the future, and then inspire other people to engage with that vision?
  • Initiative: Do you have initiative, and instinctively start problem-solving or business improvement projects?
  • Desire for Control: Do you enjoy being in charge and making decisions? Are you motivated to lead others?
  • Drive and Persistence: Are you self-motivated and energetic? And are you prepared to work hard, for a very long time, to realize your goals?
  • Risk Tolerance: Are you able to take risks, and make decisions when facts are uncertain?
  • Resilience: Are you resilient, so that you can pick yourself up when things don’t go as planned? And do you learn and grow from your mistakes and failures? (If you avoid taking action because you’re afraid of failing, our article on Overcoming Fear of Failure can help you face your fears and move forward.)

Whether you’re striving to brand your business or looking to establish yourself as an expert in your industry, knowing how to do so online is essential to your success. Branding starts with being active on social media, and is shaped through content publication, whether on or off your website. Be aware, though, that poor content can lead to negative branding. It’s important to know how to deliver content and resources that your target audience wants and will find valuable. Another method of branding yourself and your business is social networks. Social networks represent a key part of any business’s marketing strategy. Not only will you need to understand each platform, you’ll want to arm yourself with the best strategies for getting your start up and personal brand noticed on each one.

One important internal driver that branding yourself and your self will be increased is the ability to deal with failure. No business venture is a straight line to success; knowing how to deal with ups and downs is essential. Remember that every successful person out there failed dozens of times before getting a win. Failure isn’t the end – it’s just a data point on the way to success.

  1. You may not identify with salespeople, but the fact is, if you run a business, you’re involved in sales. You might have a sales team that handles all of your company’s sales, but every time you deliver your elevator pitch about your business, negotiate with a vendor, or even just persuade anyone to do anything, you’re tapping into sales skills. To enhance your sales records for your business you must have the ability to be productive. This is a big topic, because there’s no one right way to be productive that works for everyone. Learn about your peak energy times, your routines, and the productivity tools that work for you in order to create your own plan for success. Another element is the ability to close a sale. Letting customers know you understand their pain is important, but asking for the sale is where many entrepreneurs get stuck. If you’re nervous about this step, try enrolling in a sales workshop to learn these much-needed skills. Adding to that the ability to spot new trends is another element that you should be aware of. Business moves fast, so you’ve got to have the ability to see changes coming in your industry. Make it a point to keep up to date on new start-ups and the advances in technology that could be poised to disrupt your field.
  1. Strategy. It’s easy to think about the “right-now” aspect of your business, because the results are easy to see. But what about the bigger picture, long-term challenges and goals? How often are you thinking about those? Without a constant eye on your business’ strategy and skilled assessment of that strategy relative to the industry and your competition, you can’t hope to grow it over time and remain competitive in the marketplace. You also need the practical skills and knowledge needed to produce goods or services effectively, and run a company.
  • Goal Setting: Do you regularly set goals, create a plan to achieve them, and then carry out that plan?
  • Planning and Organizing: Do you have the talents, skills, and abilities necessary to achieve your goals? Can you coordinate people to achieve these efficiently and effectively? (Here, effective project management skills are important, as are basic organization skills.) And do you know how to develop a coherent, well thought-through business plan, including developing and learning from appropriate financial forecasts?
  • Decision Making: How good are you at making decisions? Do you make them based on relevant information and by weighing the potential consequences? And are you confident in the decisions that you make?
  • Core decision-making tools include Decision Tree Analysis, Grid Analysis, and Six Thinking Hats.
  • You need knowledge in several areas when starting or running a business. For instance:
    • Business knowledge: Do you have a good general knowledge of the main functional areas of a business (sales, marketing, finance, and operations), and are you able to operate or manage others in these areas with a reasonable degree of competence?
    • Entrepreneurial knowledge: Do you understand how entrepreneurs raise capital? And do you understand the sheer amount of experimentation and hard work that may be needed to find a business model that works for you?
    • Opportunity-specific knowledge: Do you understand the market you’re attempting to enter, and do you know what you need to do to bring your product or service to market?
    • Venture-specific knowledge: Do you know what you need to do to make this type of business successful? And do you understand the specifics of the business that you want to start? (This is where it’s often useful to work for a short time in a similar business.)

You can also learn from others who have worked on projects similar to the ones that you’re contemplating, or find a mentor – someone else who’s been there before and is willing to coach you.

Within your strategy you should focus on other stakeholders who are customers, staff, new staff and factors which are productivity, talent management and business position.

Focusing on Customers: To be clear, without customers, you have no business. Make sure all of your pitches, products, and services are focused on actual customer needs. If you don’t know what these are, research and ask questions so that you’re able to give great customer service.

The ability to manage staff. Once you have the right people, you need to manage them well. Early on in your business’s growth, you’ll be everyone’s manager, so it pays to be effective. If you don’t already know how to manage, take the time to learn how to motivate, encourage, and develop your staff.

The ability to train new staff. When you bring on someone new, a robust on boarding process will ensure that they know what to do and not do. Not only will this help keep your company moving the correct direction, it will increase the commitment level of good employees and give you grounds to follow up on misconduct.

The ability to hire effective people. Speaking of hiring, this is easily one of the most important skills any entrepreneur could have. Having great people on your team will give you access to new strengths, while also building a company culture that people want to be a part of? Hiring the right people is essential to get where you want to go.

The ability to identify strengths and weaknesses. As a business owner, you don’t need to be perfect at everything. You do, however, have to understand where you’re strong and where you’re weak. Assessing this will inform everything from the business decisions you make, to the partners you bring on, and to the employees you hire.

The ability to be productive. This is a big topic, because there’s no one right way to be productive that works for everyone. Learn about your peak energy times, your routines, and the productivity tools that work for you in order to create your own plan for success.

  1. While you don’t need to be a CPA to run a successful business, you should still have a decent understanding of your finances, profit margins, cash flow and funding. The more comfortable you are with all of these numbers, the more confident you’ll be, and the better decisions you’ll make. If you have an accountant to handle all the number crunching, that’s great, but don’t use them as a crutch to keep you from digging in and really understanding where your money’s going. It’s your duty to rein in costs, optimize efficiency and find ways to grow revenue. As a business owner with entrepreneur skills you will be required to focus on enhancing your abilities to raise and manage money.

The ability to raise money. Once you can manage money, can you get more? In order to get investment, you need to not only understand where to get money, but how to convincingly make a case that your business is a good risk as well.

The ability to manage money.Very simply, if you can’t manage money, you can’t manage a business. Do you know where your money goes each month? Do you live off less than you earn? If the answer to these questions is no, you’ll struggle to manage a business budget as well.

 

 

 

 

 

About the Author:

Dr.Hisham M Safadi (Hisham Safadi ) BDS & MSc Leadership and Management in Health Care Practice form the University of Salford where his Master dissertation was in the effect of Emotional Intelligence on improving Dentistry care in Middle East. He was born and raised in the Emirates of Ras Al Khaimah, United Arab Emirates. Dr.Safadi had start his professional career as a dentist then turn to the field of managing medical facilities and investment management. His main interest is business start-up, leadership and mentoring. Currently he is leading several projects in Manchester that is related to enhance patient experience and improving leadership style through education.

Twitter: @hishamsafadi

References:

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How to Boost your Business using Pinterest? | #Pinterest #socialmedia #business #growthhacking

By Leah Golob | Monday April 6, 2015

Many financial advisors regard social media exclusively as a marketing tool, says Geoff Evans, founder of the Social Media Coach in London, Ont.

But in fact, Evans says, social media is a tool that can be used at all points in the client-relationship cycle. It’s what Evans describes as the “three Cs of social media”: connecting, converting and continuing the relationship.

While many advisors use LinkedIn and some use Facebook and Twitter, Pinterestis often overlooked. Pinterest functions as a digital scrapbook on which users upload, save, sort and manage images. You can use your own pictures, or link to images you find on the web.

These images, called “pins,” are posted on “pin boards,” which usually follow themes. Pinterest is an effective tool that can potentially play a role in your client communications.

Here are three ways to use Pinterest in your practice:

1. Tell your story
A key component to closing a sale is building credibility and rapport, Evans says. Pinterest is one way to showcase your personal story and connect with clients on a deeper level.

Highlighting your role in the community, sharing issues you’re passionate about and relating how you spend your personal time are all methods of building trust with clients and prospects. You can use Pinterest to help you demonstrate your interests by posting pictures that show you or your team participating in community activities and hobbies.

2. Post “napkin concepts”
Many advisors are inclined to pull out a napkin while in a restaurant and draw a diagram to explain a concept to a client, according to Evans. “Advisors are the king of ‘napkin concepts’,” he says.

While you would not use Pinterest to promote the sale of products, you can use this platform to describe financial and lifestyle concepts in a visual way, either by drawing the idea yourself or by posting professional images.

As an example, Evans suggests, you might explain permanent insurance by showing the growth of cash value in a policy over time by posting an infographic.

“Advisors don’t necessarily have a vehicle online to share concepts in a compelling way,” Evans says. “Pinterest can be that vehicle.”

3. Use images to inspire discussions
You can use images to illustrate financial planning goals. Encourage discussion about retirement planning, for example, by creating pin boards depicting various retirement activities, such as travel, golf and spending time with family members.

Clients can browse your boards online for inspiration either before or during client meetings, to help them get ideas in determining their retirement goals.

“Get [clients] to connect emotionally to the idea of retiring,” Evans says.

“It’s not about being on every platform,” Evans adds. “It’s figuring out how much time you have, and which aspect of your business you’re trying to affect the most.”
 

The Day When Social Media Did A Change in my life l #socialmedia #growthhacking #SEO #Bigdata

image

It is true that in one point you feel Confidence and re-believe in your salf because you start to use Social media where people you don’t know share your idea On Facebook or retweet one of Your tweets or rebloge your article

Most of Us had face a time where people facing you ignore your thoughts or ideas Or even not listening to You

Looking for Social Media as a tool of marketing and business links is not the principle and Core of Social media it was done for Connecting people with each other

Facebook was a platform for Connecting University Students but before Facebook There was ICQ ‘ Paltalk and MySpace

linkedin goal was to Connect professionals together and not a recruting website ‘ before linkedin doe’s any one remember xing

Twitter was created to share small massages between followers and not a news source

Because of Big data and Technology Development Social media had been modified from it’s original purpose and spreading wider

Social media platforms are trying to give you all service in One place

Think about it
for your personal needs you have the ability to post share photo’s share videos and add Friends and Family members
for Your business you can do marketing Campain and getting feedbacks

But Social Media makes you feel that you are valuable to others because they engaged with your posts or Comments.

Rasalkhaimah, ras, al, khaimah, dubai, university, salford, manchester, @hishamsafadi, hisham, safadi, European, medical, center, business, entrepreneur, startup, economy, money, motivation, education, Leadership,  Transactional,  analysis, emotional, intelligence, organisations,  development,  innovative, technology,  care, health, investor, investment, production, shark, tank, sharktank, USA, UK, London, group, european, canada, india, china, japan, KSA, projectmanagement, datascience, bigdata, IOT, internetofthings, cloud

Can Social Media Enhance Personal Security?| #socialmedia #security #growthhacking #USA #Europe

“More Generation Y workers globally said they feel more comfortable sharing personal information with retail sites than with their own employers’ IT departments,” says Cisco.

This attitude is at odds with business concerns about the disclosure of commercially sensitive information through social media to potentially hundreds of millions of Twitter and Facebook users.

In Europe, concerns about privacy linked to security are particularly acute, as evidenced by proposals for a new cyber security directive that link privacy and security.

The proposals aim to impose EU-wide reporting requirements on companies that run large databases, including social networking firms.

Although the final wording of the directive remains to be seen, the proposals are a good indication of just how seriously European authorities view data breaches.

But not only is social networking a threat to a company’s security because of what employees might disclose, but also because social networking sites are a prime target for cyber criminals.

The ability of individuals to share information with an audience of millions is at the heart of the particular challenge that social media presents to businesses. In addition to giving anyone the power to disseminate commercially sensitive information, social media also gives the same power to spread false information, which can be just as damaging.

The rapid spread of false information through social media is among the emerging risks identified by the World Economic Forum in its Global Risks 2013report.

The report’s authors draw the analogy of shouting “Fire” in a crowded cinema. Within minutes, people can be trampled to death before a correction can be made to the message.

The unprecedented reach of social media is something companies cannot afford to ignore because of the positive and negative effect it can have on the business.

Its power must therefore be recognised and managed. In the UK, BT is one firm that has done just this. Its customer service team runs a sophisticated social media operation across the most popular services.

The strategy is helping BT improve its reputation for customer service, and producing a clear return on investment for the business, according to Warren Buckley, managing director for customer services at the telco.

Like BT, investment bank Investec has technology in place to measure sentiment on the internet by picking up any mentions of the bank in social media, mainly for marketing purposes.

However, it forms part of the bank’s strategy to reduce the risk of social media becoming an insider threatto information security.

The other technology piece is a granular firewall to limit social media activities based on the user’s role in the organisation.

Manage social media with policies and technology

The most important part of Investec’s social media security strategy is awareness of its policies designed to ensure regulatory compliance and to prevent commercially sensitive information leaking.

The bank’s social media policycomprises just 10 bullet points that make it clear to staff what their obligations are every time they publish something online.

“There is no way organisations can hold back the flow of social media, so it is better to put policies and technologies in place to manage it,” says David Cripps, information security officer at Investec.

http://www.computerweekly.com/feature/Social-media-a-security-challenge-and-opportunity

Rasalkhaimah, ras, al, khaimah, dubai, university, salford, manchester, @hishamsafadi, hisham, safadi, European, medical, center, business, entrepreneur, startup, economy, money, motivation, education, Leadership,  Transactional,  analysis, emotional, intelligence, organisations,  development,  innovative, technology,  care, health, investor, investment, production, shark, tank, sharktank, USA, UK, London, group, european, canada, india, china, japan, KSA, projectmanagement, datascience, bigdata, IOT, internetofthings, cloud