In the last couple of years we have repeatedly heard that leaders should have an entrepreneurial mindset if they are to lead successfully in this rapidly changing times. But what does this mean? What are the skills that make entrepreneurs successful? What is the entrepreneurial mindset?
New research reported by Bill J. Bonnsetetter in the Harvard Business Review blog shows five distinct personal skills that can predict, with 90% accuracy, entrepreneurial success:
1. Persuasion
Persuasion for the research study was defined as the ability to persuade others to join the mission. The ability to convince others to change the way they think, believe or behave. Unquestionably, entrepreneurs need to excel at persuasion, whether to recruit a team or get buy-in from investors and stakeholders.
2. Leadership
Good leaders were defined as having a compelling vision for the future, and are willing to take risks to support their vision. For people with an entrepreneurial mind-set, their strength of vision is usually tied to a product or service that provides solutions to challenges, even when the general public is not aware the challenge exists.
3. Personal accountability
Entrepreneurs demonstrate initiative, self-confidence, resiliency and a willingness to take responsibility for personal actions. People who are personally accountable look at obstacles as a part of the process and, rather than give up, they are energized by them. From this we can gather, individuals who blame others for their failures display a significant lack of personal accountability and will most likely fail in any entrepreneurial effort.
4. Goal orientation
Goal orientation was defined as energetically focusing efforts on meeting a goal, mission, or objective. It's important that entrepreneurs have a strong sense of what their goal is, because their product or service depends on it. Identifying and advocating for the goal allows them to influence others and gain their support.
5. Mastery of interpersonal skills
The mastery of interpersonal skills is the glue that holds the other four skills together. They include effectively communicating, building rapport, and relating well to all people, from all backgrounds and communication styles. In the study, people who excelled here had the ability to get along with people and to calm people who are emotionally upset. Without interpersonal skills, an entrepreneur would be limited to relating only to those who share their exact communication style, thus restricting their ability to convey their vision and goals.
Remember. . .
Besides timing, creativity, and taking advantage of new opportunities, entrepreneurially successful people have five unique personal skills which are the most predictive of an entrepreneurial mindset. These are skills that can be learned and developed.
Do you need to improve your personal skills? Don’t lose valuable time. Contact me today for a free, no obligation interview to decide how can I help you.
Photo by: See-ming Lee