Why Entrepreneurship Skills Matter

​Unlike the other Job Skills sections, entrepreneurship is not something that applies to every employee. After all, not everyone is a freelancer or owns a small business. However, some business professionals predict that we are heading toward an entrepreneur-based economy as seen in this article. In other words, short-term, temporary jobs are becoming more common. Because of this, familiarizing yourself with entrepreneurship skills may be helpful.

Read more about entrepreneurship in the sections below:

Starting a Business

The words starting a business may seem frightening. They bring to mind something far-off and almost un-reachable. However, depending on the situation, it may just require a good amount of effort. You can even start an online business in just a few steps, if that is your preference.

It can be easy to think that business owners are born, not made. In reality, this isn't true. All it really takes to start a business is an idea, creativity, and enough funds along with planning and perseverance.

Skills for Success

Being a successful entrepreneur requires several skills. A few of these include:¹

• Being engaged and motivated regarding what you want to accomplish
• Being good at time and money management
• Being able to gauge costs
• Being able to manage stress
• Being able to point out strengths and weaknesses
• Being committed and resilient
• Understanding business plans
• Knowing how to handle risks

Small Business Pros and Cons

Before you start a business, you'll need to know the pros and cons. Look into the following points and decide if starting a business is right for you: ^2 3

Pros

• More freedom and flexibility. Be your own boss!
• Career satisfaction and fulfillment. Owning a business means doing something you love for a living. You may also feel like your work is more meaningful and that you're contributing to the community directly.
• Job Security. You are your own boss. You don't have to worry about being fired or laid off.
• Experience. You'll be able to learn a lot of new skills and other valuable information.

Cons

• Financial risk. You may worry more about getting into financial trouble.
• Stress. Be aware that the "startup lifestyle" can be stressful.
• You may have to work longer hours than you normally would at a different job. You may also get caught up in the smaller details of running a business.
• Inconsistency. You might not have a steady income.
• Difficulty. Running a business often requires you to learn a lot of new skills, which may be difficult for some.
  

Sources

1https://www.entrepreneur.com/article/242327

²https://www.themuse.com/advice/the-pros-and-cons-of-freelancing

³https://blog.hostway.com/blog/the-pros-and-cons-of-owning-a-business