Not everyone is born with all skills required to be a successful entrepreneur. But it isn’t right to say that one cannot learn these skills and develop the right mindset. By building the right skill set, one can improve their chances of reaching their goals. Further, you can ensure that your business’s workflow is maintained by having realistic goals and the correct implementation of your leadership skills.
More people are opting for entrepreneurship as a career choice today. The availability of fast internet has made it possible for many businesses to operate digitally and make the process seamless.
Statistics to learn about entrepreneurs in 2020 –
- 60% of people who start small businesses are between the ages of 40 and 60.
- 22.5% of small businesses fail within the first year.
- 62% of adults believe entrepreneurship is a good career.
- 74% of Singaporean millennials compared to the global average of 50% working, to become their bosses or be self-employed in the next decade.
- 33% of entrepreneurs have only a high-school diploma.
- 26% of entrepreneurs turn to the internet for business-related advice.
Some other facts about Entrrepreneurs
If you among those who want to master the skills and wonder how to learn about entrepreneurship, this article will help you discover seven different ways in which you can learn more about Entrepreneurship.
1. Start following Free Content
The best way to succeed is by learning from the people’s mistakes and following those who overcome obstacles and reach their goals. And the best way you can get started with this is through business podcasts, read inspirational books, and follow TEDx talks.
As an entrepreneur with a budget, you might need to save on budget—so following free content is perfect for you! This way, you will come across a million stories of people who failed and succeeded and are today loved by many for what they do. TEDx talks are an especially valuable way of learning this, and you can watch the sessions on YouTube whenever you want. There’s a lot of personal, self-development help for entrepreneurs mindset. For instance, this TEDx talk by Simone Heng about human connection and leadership in Singapore!
Podcasts are also an excellent way of learning new ideas on the go, which is perfect for busy entrepreneurs. Check out Book Summaries for Entrepreneurs, Business Wars, and Smart Passive Income Online by Pat Flynn.
2. Get a Mentor
Expert guidance can help you in many unimaginable ways, and that is why people say that the value of a mentor is priceless. Your mentor can save you from making mistakes from their experience. You can try reaching out to a mentor or expert on LinkedIn and start the conversation from there.
Even if they don’t get back to you, it’s helpful to follow your mentors on various professional platforms, so you’re always updated on their valuable lessons and advice. Notable entrepreneurs in Singapore you can look up to are Stephanie Chai, Joel Sng, Tan Hooi Ling, and many more.
Read More: Role of Mentorship
3. Start Online Courses on a Skill
Competition is rising with every passing day, and upskilling is essential to stand out among your competition. The best way to learn more and become an expert in your field is by learning from online courses. The most significant benefit of these courses is that you need not visit a coaching center and continue the course according to your schedule.
As a rising entrepreneur, you will be able to find free course materials on sites like Udemy, Coursera, Udacity, LinkedIn Learning, YouTube, and many others. As you go along, however, your needs might evolve to learning more intensive material; and you can start hunting for paid online courses from entrepreneurs that have already been successful. Industry professionals like Dan Lok and Tony Robbins are some notable thought leaders who have several paid courses on entrepreneurship, high-income skills, and leadership.
Also Read: Constant Upskilling to remain relevant
As per the survey done by NTUC Learning Hub, digital upskilling has become high priority for all business owners be it Start-ups, SMEs or Big Corporates, especially during COVID times.
4. Networking / LinkedIn
If you’re an entrepreneur unsure of leaders in your industries and mentors to follow, there is still hope! You can build your way up to success by building a network of like-minded people. Go on LinkedIn to connect with other entrepreneurs, other small business owners—and take the initiative to send them an invitation.
LinkedIn provides you with an ability to approach the people through the ideas in your posts and articles or by sending them a personalized connection request. For example, if you’re in the content marketing industry—you can send an invitation to someone who shares your interest and freely discusses ideas! If things move forward from there, you can even take the first step and move the conversation off LinkedIn. There have been many success stories of entrepreneurs finding their co-founders, managers, and business partners on LinkedIn too.
5. Start a Business
The experience of entrepreneurship comes from the real world. You can start a business while working on a job or a full-time commitment. It will help you develop much-needed entrepreneurship skills, including business planning, idea representation, sales, and marketing. You might make mistakes, but the knowledge you will get will be priceless.
Your business can produce good side income, which you can use to grow it further. Further, you can partner with like-minded people and turn it into a fully functional startup. Initially, it will help you develop the skills required to face challenges and work with a calm mind under sharp deadlines.
6. Get a Higher Education
Keep learning more about your personal development. By getting a higher education, you develop many skills throughout your curriculum through a preplanned structure. During your college education, you can get the guidance of professors who have vast knowledge in their fields. Further, you get many free resources that you can utilize to excel in your current skills. The college can make you more effective in time management, collaborations with coworkers, effective communication, and help you upskill faster through interactions with like-minded people.
7. Work in a Startup Culture Environment
Startups are known to provide tremendous learning opportunities. It takes patience to establish a business, and working in a startup can help you diversify your skillset. Unlike established cooperation, a startup requires you to multitask, and many times, you will get an opportunity to learn new things. Many entrepreneurs discover what they like to do the most while working in a startup. Moreover, the employees are more connected to the company’s leaders while working for a startup, as working under the leaders can help you grow faster.
A Journey Ahead
To become an entrepreneur, requires an individual to stand out among their peers in a wide variety of skills. An entrepreneur is expected to be a smart, competent, educated, and confident person who can lead the company towards its vision and achieve the targets well within deadlines. Upskilling and continuous learning is the key to the growth of successful individuals over their lifetime.
You can be innovative, but not having the right leadership skills and education can make big mistakes. By comprehending the tips mentioned in this article, individuals can start their journey towards becoming a successful entrepreneur.