4 Soft Skills for Entrepreneurs by Scott Lumley

4 Soft Skills Necessary for Entrepreneurs

If you’re an entrepreneur, you know the value of smart investments. The key to success in 2018 is developing your soft skills. All solid businesses have potential to succeed, but your soft skills could set your business apart from the rest.

  1. Transparency

Even in corporate America, there is a trend toward transparency between businesses, employees and consumers. Of course, you should always be honest when a person has questions about your business. But true transparency is making information about you and your business easily accessible. This doesn’t just mean sharing good news. It also means admitting wrongdoings and telling your audience how you intend to improve in the future.

When you engage in business with another person, there is an implied level of trust. If a person knows about your company’s values and operations, they will feel more comfortable throughout your relationship. Along with gaining trust of clients, investors, customers, etc., increased transparency will also hold you more personally accountable for every aspect of your business.


  1. Communication

I’m not talking about your ability to draft a grammatically perfect email (although that is another important skill in business). Daily human interaction can potentially make or break your business. Whether with employees, investors, advisors or clients, your ability to communicate effectively can lead to greater success.

Networking is the best way to practice and improve your communication skills. When you’re speaking to anyone, be sure to genuinely listen to what the other person is saying. When you can hear a person out and empathize with them, you will be able to respond in a naturally engaging way.


  1. Stress Management

Entrepreneurship can be stressful, especially in the beginning of your journey. You will experience disappointment and struggles, but the key is to be productive without letting downfalls disrupt your inner peace. With this kind of mentality, you’re setting the tone for your entire business.

If a leader handles stress well, everyone involved with the business feels empowered — not discouraged — in the face of setbacks. Helping your employees and investors manage any stress they have will give them more confidence in your business and in you as a person. The only way to do that is for you to effectively manage your own stress.   


  1. Adaptability

Business ventures don’t always go according to plan. You just have to roll with the punches and change your strategies to meet the world around you. If you linger on your initial vision of how things were supposed to go, you could miss a golden opportunity that’s right in front of you.


A combination of hard skills and soft skills will put you on the path to making your business the best it can be. Take time to invest in yourself, and your business will thank you.

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