the right soft skills matter more than hard skills in determining successful outcomes.
You can build or strengthen these soft skills to improve your odds
Everyday wannabe entrepreneurs toss around billion-dollar ideas.
Usually followed by 10 reasons "why it won't work" or that "Google will copy it"
These are excuses to avoid taking action and with action comes risk.
Both financial & reputational
Become action-oriented by:
Taking small, calculated risks in the pursuit of data to drive further decision making.
It's not about having the 10-year plan figured out, it's about getting started.
The first step is the most important.
Trust is the currency of successful entrepreneurs.
They know it's both powerful and fragile.
Being trusted by investors, employees, and customers accelerate success.
It removes (normally) rigorous vetting on the basis of previously delivered promises.
But trust can be shattered with one word, and typically can't be rebuilt.
How to gain trust and avoid losing it:
- Do what you say
- Own mistakes
- Deliver bad news honestly and quickly
- Never break promise
- Never talk behind someone's back
Humans are wired to associate with those we enjoy spending time with.
Building a company is hard. Having supportive fans rooting for you is critical.
In order to build a community of fans who promote you, you must be well-liked.
So how can you become more likeable?
- Be responsive
- Be honest
- Bring high energy
- Be present in your interactions and conversations
- Be willing to laugh at yourself, publicly!
Don't discount the huge ROI on being liked -- it opens many doors
Success comes after 1000s of iterations, which means there will be a lot of failures.
Open-minded people remove their ego from their ideas and let the data (not feelings) drive decisions.
They accept the can/will be wrong... often!
Open-minded people surround themselves with opposing views.
How to become open-minded:
When an idea is presented, commit to finding 3 responses it WILL work, rather than an immediate "No".
Also, hire people with different life experiences. This is the main reason for you to fast learn something new by avoiding similar mistakes done by people.
Excitement for the future encourages entrepreneurs to invest energy and resources into their passion.
But, that doesn't mean they're happy 100% of the time.
It means their belief/confidence in the future outweighs how they're feeling at any given moment.
How to become more optimistic:
Write down all the hard things you've overcome in your business:
This way, when you're in the middle of a difficult time, you can see how you've navigated before.
For me, this is revitalizing and gives me the energy to push through.
Successful outcomes will look different for each entrepreneur.
From solopreneurs to IPOs, everyone has different styles and goals.
But the best leaders all have shared these traits.
Just like you've built out your toolkit of hard skills, focus on building these soft skills.