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What are Entrepreneurial Skills?

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Article by FYG Consultores

Before starting your own business, you may want to know the entrepreneurial skills needed to achieve this goal, but first you need to think about what exactly it means to start a business, what are the skills needed for it, and more precisely, how to enhance these skills to achieve the expected success.

First of all, we should ask ourselves what exactly entrepreneurship is. Entrepreneurship is the action of creating a business with a view to economic benefit. Generally, it is usually launched through a business idea, carried out by an entrepreneur, that is, a person who observes a need or problem in the market or in society and focuses on finding a solution. According to Investopedia, an entrepreneur is an “individual who creates a new business, bearing most of the risks and enjoying most of the rewards” and who “is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures”. Therefore, according to this definition, entrepreneurship is the “process of setting up a business, taking it from an idea to realization”[1].

It should be noted that there are different types of entrepreneurships: small business entrepreneurship, large company entrepreneurship, scalable startup entrepreneurship, social entrepreneurship, innovative entrepreneurship, hustler entrepreneurship, imitator entrepreneurship, researcher entrepreneurship, etc. and consequently, there are as many types of entrepreneurs as there are types of entrepreneurship and companies.

However, they all have certain common characteristics and skills. Frequently an entrepreneur is a pragmatic, versatile, resilient, flexible, money-savvy, business smart, focused, communicative, curious, ambitious person, who also possesses great abilities of planning, initiative, self-improvement, organization, spatial vision, risk management, etc.

Nevertheless, a person does not become an entrepreneur overnight, so all these skills must be trained and enhanced. One of the most efficient ways to be an entrepreneur is to act like an entrepreneur. Therefore, entrepreneurial skills can be strengthened through theater.

Theatrical education has been shown in multiple cases to be of great help to many successful businessmen, so we should take this art as a creative and dynamic learning methodology through which we can simulate day-to-day situations in our future company and thus, put ourselves in such situations and imagine how we would act when facing difficulties or challenges that may happen to us on our way to prosperity.

How will we react if an employee asks us for help on a problem we don’t know how to solve? Will we be able to communicate our strengths and concerns efficiently? Will we know how to work and collaborate with others? Will we be able to take initiatives and spot opportunities? Where do we stand in the face of uncertainty? What happens if we lose motivation along the challenging path to our goals?

All these questions arise in the daily life of a person who has a business or wants to start a business idea in the future, and all of them refer to entrepreneurial skills such as taking initiative, spotting opportunities, coping with uncertainty, self-awareness, working with others, perseverance, motivation, etc.

Fortunately, all of them can be trained through different trainings such as the training combo “Entretheatre: Building entrepreneurial skills through theatre” which provides an inclusive, engaging and innovative training methodology to develop the entrepreneurial skills and competences of unemployed adults interested in entrepreneurship.

[1] https://www.investopedia.com/terms/e/entrepreneur.asp

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