6 Must Heave Entrepreneurial Skills

What entrepreneurial skills are needed to be successful? What does it take to be an entrepreneur? There are many things that entrepreneurs develop overtime, usually by necessity, but these 6 entrepreneurial skills are skills that are needed even before you start your business.

If you don't have all the skills listed below, do not get frustrated or scared, we can help you. Most entrepreneurs develop the skills that they need for the business opportunity that they are building. We can help you to learn what you need. Read the list below and let NHT Global know how we can help you.

• Self Motivation - This is the most important skill of any entrepreneur. It's the ability to wake up in the morning and start working. Sounds simple but if you don't do this you can literally waste away the day doing things that have no benefit to your business. Even though you may not have liked them, your bosses told you what needed to be done. Now as an entrepreneur, you are the one that has to know what needs to be done and take action to get it done. Many first time entrepreneurs spend their day's talking on the phone, filing and making binders or documents for clients that don't even exist yet.
  
  
• Self Confidence - If you don't share your products or business who will? That is why every entrepreneur needs to be confident in themselves, their product and their business. You need to know that your product can truly help people and that you are charging prices that are both fair to you, and your clients.
  
  
• Ethics and Morals - This is an area that has no code book. No Ethics Committee that you can check with to see what is right or wrong. It is however the foundation of every good entrepreneur. You must decide what you stand for and how you will conduct your business on a daily basis. What lines won't you cross? You need to know those before you get tempted to cross some that could jeopardize your business. The last thing that you want to do is make a name for your business that people don't like or trust. No one wants to do business with someone they trust! Would you?
  
  
• Time Management - This goes hand in hand with Self Motivation. You as the entrepreneur need to schedule your day and stick to that schedule. Your time is extremely valuable. When you first start out you may not have enough business related activities to fill an eight hour day, but do not waste your valuable time watching television or having long lunches. Take that time and educate yourself on new ways to improve your business or products. Examples of this can be anything from improving contacting skills to finding new and innovative ways to market your business.
  
  
• Sales - This can be very scary to some people. The though of having to sell something, but every business has to work with, and develop a way to handle sales. As an entrepreneur it is your job to develop the types of sales that will work best for your business and implement them. A continuous effort should also be put on improving your sales skills.
  
  
• Finance - This is a must if you are in business for yourself. Knowing how to balance a check book and keeping track of numbered invoices is all most small businesses need to do when they first start out. One of the most important things to remember is to make sure you schedule time for your financial management.
  
  

Nurturing and improving on these skills before going into business for yourself will help to ensure your success. So with these 6 Entrepreneurial Skills in hand and great idea for your business, you will be well on your way to creating the lifestyle that you deserve.

Have the skills but looking for a business opportunity? Let NHT Global help you. Watch this short video to see what we have done on a global basis.

Already have a business but looking for monitoring and coaching? Contact us now to tell us what you are looking for and we will see how we can help.

Entrepreneurial Activity

Understanding what the entrepreneur risks are not black and white. Before getting into the risks associated with being an entrepreneur a brief historical perspective of what is means to be an entrepreneur is needed.

A country's economy has many things that will determine it's economic well-being. There are too many factors to be listed here, but one of the main contributing factors is entrepreneurship! Traditionally, entrepreneurial ability tended to be defined by the following four attributes:

• Initiative- The entrepreneur takes the initiative to bring together all the resources required for the business venture. Land, labor and capital to turn the idea into production and turn the idea into a viable business opportunity.
• Decision-making - This is how the course of the business enterprise is set. The entrepreneur makes all the decisions to create the basic business policy.
• Innovation - This is how the entrepreneur introduces the new products and/or ways of doing things to the the market.
• Risk-taker - This is self-explanatory. The entrepreneur risks his or her time, effort, business reputation and funds on the the entrepreneurial venture.

There are many types of entrepreneurs, All of which face different challenges and risks.

The Modern Entrepreneur

Until recently, the attributes listed above, especially risk-taking and innovation restricted many people from becoming entrepreneurs. Today however, with corporate down-sizing becoming a fact of life, many entrepreneurs find themselves thrust into the role out of necessity.

The question now becomes do "Do I have the right-stuff to make it as an entrepreneur?" Some people are born with it, no question. However that are countless successful entrepreneurs who actually learned the skills they needed to be successful in their business opportunity. NHT Global was established to help new and experienced entrepreneurs alike grow their businesses globally. Contact us directly to get more information on how we can help you over come the following entrepreneur risks.

The Common Risks

Regardless of the type of entrepreneur that you are aspiring to be, or the industry that you will be in, there are three common things that all entrepreneurs will face - planning, finance and implementation.

Entrepreneurial Growth in Emerging Markets

Growth in Spite of Traditional Reports

When economic times are slow economies rely on entrepreneurs to spark growth. For people who are looking at becoming entrepreneurs, the recent events of the global economy can leave wondering which way to turn.

This confusion arises when looking global economic picture as at time it can look bleak. Hearing the experts speak of economies retracting and growth being slow at best, can leave an individual fearful of what lies ahead. While it is important to have proper reporting on economic conditions many times these reports do more harm than good.

In the midst of all the reporting about economic conditions there are entire countries not mentioned in these reports. They are simply deemed emerging markets, and their growth has not become noteworthy enough to speak of in the same report as the mighty United States, European Union and Chinese economies. That is, until now.

Emerging Markets Come Online

The advent of the internet has allowed entire nations to break free from the darkness of the unknown and tap into the world potential that surrounds them. Countries like Mexico, Colombia, Peru, Argentina, Poland, Latvia, Kazakhstan, Ghana, Nigeria, India, and the list continues, are countries that are seeing massive entrepreneurial growth. The internet is allowing the people of these nations to be part of the paradigm shift that is occurring, one in which traditional forms of income have changed.

This paradigm shift is allowing individuals to create an income where there was once nothing. It is allowing entire villages to work together to grow incomes that allows them to afford the necessities of life. To have the ability to grow and coupling that with the power of desire creates an unstoppable force.

Globasl Industry Expanding

Against the backdrop of major nation's economies slowing down, this 154 billion dollar annual industry has continued to flourish. This industry that has been around since the mid-1940's is the direct sales industry. While this is not earth shattering news, what is important to understand is that emerging markets are seeing not just single even double digits gains, but in some nations, they are experiencing triple digit gains! The combination of hope and desire coupled with a proven business model is allowing these nations to create incomes like never before.

In small villages where earning $500 a month was difficult they are now earning $2000-$3000 per week. Where there is necessity there is creativity is being shown every day in these emerging markets.

Become Part of Economic Boom

To the savvy entrepreneur they are looking to be part of this growth. They want to be part of these emerging markets because they know the potential in these markets and they have seen this pattern before. The emerging markets of the Western Europe, the African nations of Ghana, Nigeria, Kenya and South America countries such as Brazil, Peru, Argentina are in a stage that resembles that of North America 20 years ago.

The momentum has built and the explosion of growth is about to happen. The question for the entrepreneur is when to get involved. For those around 20 years ago in North America they saw the opportunity and they got involved. Their efforts have now been handsomely rewarded and they are living off of their multi-million dollar residual incomes. For those that choose to wait, they are still today looking for the next big opportunity.

History will always leave clues to world events and the successful entrepreneur will know how to read those clues and use them to their advantage. That is exactly what is transpiring here. The pattern of the economic boom in the emerging markets is about to repeat itself, with one exception. The economic boom that will be experienced in the emerging markets will happen much quicker than it did in North America.

The internet did not exist 20 years ago and that simple fact will allow the emerging markets to rapidly expand beyond their borders. Entrepreneurs in these markets will not only entire countries and regions paying them an income, but they will also have thriving global businesses.

Take Action in the Emerging Markets

"Choice, it's always your next move" is a great quote from Napoleon Hill, one that every entrepreneur understands completely. The facts are before you and you now have to make a choice. Choose to do nothing or choose to move forward, either way you have made a choice.

Regarding the emerging markets and how the direct sales industry is seeing massive growth, the choice is simple; be part of the growth, or be like the individuals 20 years ago in North America, and let it pass you by. It's up to you.

Employee and Entrepreneur Mindsets

Understanding the Difference Between the Two

What I want to talk to you about today is something that gets a lot of conversation and is tossed around a lot. That is the Employee Entrepreneur mindset. The problem as I see it though is that most times this topic is discussed it is not a conversation that is used to enlighten people about the different ways of thinking, but to look to convince someone what the right way of thinking is. How they should think. How they should act. What they should do. It`s usually in a manner to convince them to buy or sign up for something. Have you been there before?

To me that isn`t the point of the Employee Entrepreneur mindset discussion; why? Because not everyone is meant to be an entrepreneur and not everyone is meant to be an employee! Plain and simple! The thousands of businesses that exist today could not exist if everyone wanted to be an entrepreneur and run their own business. Conversely there has to be some entrepreneurs to start the businesses to create products and services and the livelihoods that go along with them.

Watch a video on the Entrepreneur Mindset. Do You Have It?

What I’d like to do today is simply walk through the basics of the Employee / Entrepreneur Mindset discussion and ask you questions along the way. Not questions about signing up for something, or buying something, no, just questions about do you really know what mindset you have? Or what it is that you are looking for.
I read an article today that discussed how entrepreneurs are born the way they are. That it can’t be learned, it can’t be taught, and it has to be an instinct! I am a very well read individual and that means that I’m not always going to read things that I agree with. This is one of those cases. While I agree that there are different types of entrepreneurs with different skill sets and instincts, I do not think it is something that can’t be taught. The author in my opinion, contradicted himself by saying, the “entrepreneurial instinct can be a latent one, and awoken upon seeing someone else using the skill.” To me, that is being enlightened, being educated and coming to terms with the fact that you want to be an entrepreneur. To close out my point, according to the author, mathematicians are born with the ability to differentiate second order differential equations. It is just in the years of calculus courses that awakens their “latent” ability! Ya right!

Watch a video on the Entrepreneur Mindset. Do You Have It?

I digress and know that you can learn to be an entrepreneur as I am living proof that it can be done. Once an engineer in the automotive industry, yes I had my “latent” ability to differentiate second order differential equations awoken somewhat reluctantly over the years, I now run a very successful multi-national organization that I have built over the past 6 years. Did I have the skills I needed? No. I learned those. Did I have the desire, and I think this is where that author made a slight mistake, it’s the desire that can’t be taught. That is the burning in your belly that motivates you to do what it takes to get the job done, regardless if you are an employee or entrepreneur. When my engineering career wasn’t getting the job done for me personally, I made the switch and here I am. Enough about me though, the question is what do you want? Do you want to be an employee or entrepreneur?