Effective Ways to Build Entrepreneurial Skills

 Becoming your own boss and an entrepreneur is the new coveted career choice of the 21st century. People are fed up with working jobs that leave them underpaid and

unfulfilled.

Although some entrepreneurs say they were born to build a company, it’s never been easier for anyone to learn entrepreneur skills that can propel them into building a successful business.

Here is a list of 12 effective ways to build entrepreneurial skills that matter:

1. Take a different path.

“Creativity is the root of entrepreneurship.” -- Karndee Leopairote, Thammasat University.

Creativity is the ability to see things differently and to provide solutions where there are gaps. To build your creativity skills, intentionally try something new. Do something that others won’t do. Read unusual books. Watch a movie in a different language. Travel to an unexpected spot. Talk to people that are out of your circle of comfort.

"The Big Short" is a movie that depicts how several opportunist entrepreneurs and investors managed to profit from the 2008 financial crisis by going against popular opinion.

2. Start a business.

“You don't learn to walk by following rules. You learn by doing, and by falling over.” -- Richard Branson.

There is nothing like real-world experience. Whether you run a business on the side or full-time, you get the opportunity to grow your skills such as business planning, negotiation, sales and marketing.

I started my first business when I was 16 years old, and learned more through making mistakes than I could through reading any business book. My mobile car detailing business was successful only because I was able to learn and make changes quickly.

3. Stick with challenges.

“It’s not that I’m so smart, it’s just that I stay with problems longer.” -- Albert Einstein.

Every successful entrepreneur has learned to develop their perseverance and tenacity muscles. The life of an entrepreneur is never smooth sailing, and it takes guts to keep going when people doubt your abilities.

To build perseverance, create a goal or challenge that is meaningful and don’t give yourself the to quit. Alternatively, give yourself a deadline to aim towards. For example, if you want to create a better blog, make a commitment to write 1,000 words every day for a year.

4. Delay gratification.

Elon Musk, the founder of Tesla, Solar City and SpaceX set himself a challenge to live on only $1 a day to see if he had what it took to lead life as an entrepreneur.

Entrepreneurs have to get used to countless failures and almost zero rewards until they finally hit the jackpot. To train yourself to be able to delay gratification, start small. Say "no" to the extra donut. Keep your old car instead of going into debt to buy a new one. Wake up at 5 a.m. on the weekends to work on your business idea instead of staying in bed.

5. Manage your own finances.

Understanding basic finance is essential in running your own company. You don’t have to be an accountant, but you should at least be able to understand the basics around cash flow, assets, and profit and loss.

Start by learning how to do your own taxes and manage your own budget and investments.

6. Volunteer to lead.

The ability to lead a team and stay organized is important when you become an entrepreneur. You can start by looking for volunteer and leadership opportunities around you. Volunteer to lead a Meetup group, start a fundraising project for your favorite non-profit organization or get involved with your local community board. Alternatively, coach a local children’s sports team or just plan your mother’s birthday party.

By getting involved in bigger roles, even if unpaid, you get to practice your time management, organization, leadership and teamwork skills.