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News May 27, 2021

Top talents most successful entrepreneurs possess

Research shows no one has the full range of abilities to guarantee success in small business, but most people have enough potential to pursue small-business aspirations, according to www.uschamber.com. The key is to identify your talents, proactively develop them and surround yourself with a team that offers the skills you lack.

A Gallup analysis finds there are three types of entrepreneurs—rainmakers, experts and conductors—and no individual embodies all three qualities, but each is crucial in any organization. Within these broad types are 10 specific talents critical to creating and managing a new or growing business successfully.

Following are 10 traits that are the foundation for entrepreneurial decision-making:

  1. Confidence: Strong self-belief, especially in your ability to convince others they will get what you have promised
  2. Risk-taker: Comfortable with ambiguity, eager to embrace challenges, capable of managing high-risk situations
  3. Knowledge seeker: Constantly absorbing new information and applying it to the business
  4. Disruptor: Always looking ahead and experimenting with products or services and new methods
  5. Promoter: Creating excitement and confidence internally and externally by being persuasive and communicating clearly
  6. Independence: Able and willing to do what is needed, even outside your strengths
  7. Determination: Tenacious work ethic, especially during rough periods, to accomplish what you set out to do
  8. Relationship builder: Recognizing the value of others inside and outside the company and engaging them for the company’s benefit
  9. Profit focus: Sharpness in business and finance, knowing how to make money
  10. Delegator: Realizing you do not have all these skills, nor the time to do everything, especially as the business grows

It is important to identify which of the 10 talents you are good at and make yourself great at them. Successfully launching and running a small business or getting better at growing one you already own is less about your inherent talents and more about awareness of them, building on your strengths and filling the gaps through hiring and delegating.

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