Being a successful digital entrepreneur is not easy. It requires a lot of skills and hard work. In today’s digital age, digital skills for entrepreneurs are more important than ever before. Without them, it will be difficult to succeed in the ever-changing business landscape.
Today, digital entrepreneurship skills are a must-have for every business owner, whether you’re running a multinational firm or freelancing from home.
In this blog post, we will discuss 7 entrepreneurial skills that all entrepreneurs must have for successful entrepreneurship.
7 essential digital skills for entrepreneurs
There are many skills needed to be an entrepreneur but below are 7 entrepreneurial skills that every entrepreneur must have to start with:
Communication is key in any business. As an entrepreneur, you need to be able to communicate effectively with your team, customers, and partners. This includes written communication, such as email and social media, as well as oral communication, such as presentations and phone calls.
Communication skills for entrepreneurs are like the oxygen for any business. If you can’t communicate your vision, your products, and your services to others, then you won’t be able to build a successful business.
Learn and understand cultural differences – they can make or break a deal. Communication is not only about what you say but also about how you say it. The way you communicate with people from different cultures can make or break a business deal. As a digital entrepreneur, you need to be aware of cultural differences and learn how to effectively communicate with people from all over the world.
Show leadership and confidence – when the going gets tough, people will look to you for guidance and support. As an entrepreneur, you need to show leadership and confidence, So it’s important that you remain calm and collected under pressure. You’ll have to learn to say no, negotiate, hire and fire people. It’s not fun.
Actionable tip: Join a Toastmasters club or take a public speaking course to improve your communication skills.
Here are a few tools to help you communicate information more efficiently and improve productivity at work. Knowing technical skills for entrepreneurs is not just about the technicalities, but also the ability to use these tools efficiently.
Asana – Project management and communication within your company or department.
Google Sheets – A spreadsheet application that lets you manage data and collaborate with others in real-time.
Hootsuite Insights – An analytics tool that provides insights into your social media activity.
Slack – A messaging app for team communication.
Zoom – A video conferencing app that lets you meet with clients, employees, or partners remotely.
2. Finances –
As a digital entrepreneur, you need to be able to understand and manage finances. This includes bookkeeping, budgeting, and financial planning. You should also have a basic understanding of accounting and taxes. If you want to know the skills required for entrepreneurship, then finances are one of the most important skills you need to have.
Accounting – It’s not difficult to grasp accounting and bookkeeping at a rudimentary level, but it will assist you in developing financial thinking and understanding your company’s pulse.
Budgeting – you will need to create and track budgets for your projects, products, or services. This will help you stay on track and make informed decisions about where to allocate your resources.
Financial planning – you need to have a clear understanding of your financial goals and how to achieve them. This includes creating a business plan, setting up a financial roadmap, and investing in the right resources.
Taxes – As an entrepreneur, you need to be familiar with the tax laws in your country or region. This includes filing taxes, paying taxes, and claiming deductions. It’s important to stay up-to-date on tax changes so that you can comply with the law and minimize your tax liability.
Investing basics – you should have a basic understanding of different types of investments, such as stocks, bonds, and mutual funds. You should also know how to choose the right investment for your goals and risk tolerance.
There are many software programs and apps that can help you manage finances more effectively.
Mint – A personal finance app that lets you track your spending, create budgets, and set financial goals.
QuickBooks – An accounting software program that helps you manage invoices, expenses, and customers.
Wave – A financial management app for small businesses that lets you track income and expenses
Gumroad – Sell digital files like PDFs, graphics, videos, and more.
Actionable tip: Take a course in financial management or accounting. Alternatively, hire a qualified accountant or bookkeeper to help you with your finances from Benchkart.
3. Branding –
Every business has a face. You need to create a strong brand for your business. This includes developing a unique selling proposition, creating a visual identity, and building brand awareness. A strong brand will help you attract customers and stand out from the competition. Everyone has a brand, and everyone is constantly developing one. Your personality, how you talk to people, how you respond to emails, how you introduce yourself, and how you write are all part of your brand.
Unique selling proposition – what makes your products or services different from those of your competitors? What benefit do they offer that your customers can’t find anywhere else? Your unique selling proposition should be clear, concise, and easy to understand.
Visual identity – this includes your logo, color scheme, website design, and other elements that make up your company’s visual identity. Your visual identity should be consistent across all channels and touchpoints.
Create a blog – A blog is a great way to share your company’s story, build relationships with customers and partners, and generate leads.
Curate content – As a digital entrepreneur, you need to be able to curate content from a variety of sources. This includes news articles, blog posts, infographics, videos, and more.
Actionable tip: Use social media to build relationships with customers and partners. Share your company’s story and connect with people who are interested in what you do. These social media or digital skills for entrepreneurs will give them a wider audience to connect.
Many online branding tools can help you create and manage your brand identity.
Canva – A graphic design tool that lets you create logos, infographics, presentations, and other visuals.
Hootsuite – A social media management platform that lets you schedule posts, track analytics, and engage with your followers.
Buzzsumo – Identify and curate top-performing content.
MailChimp – Email marketing software suitable for smaller projects, an account with up to 2,000 subscribers is free.
4. Marketing –
Marketing is the process of creating value for a company through the creation and distribution of products or services. Even if you can create the greatest product in the world, it’s worthless unless people are aware of it. Marketing involves promoting your products or services to potential customers through various channels, such as advertising, public relations, social media, and email marketing. So, you need to know digital entrepreneurship skills for digital marketing like SEO (Search Engine Optimization), SEM (Search Engine Marketing), SMM, Email marketing, and more.
Identify target audience – This includes defining your ideal customer, understanding their needs and wants, and determining where they can be found.
Create buyer personas – Buyer personas are fictional characters that represent your ideal customers. They help you understand your customers’ needs and how they make purchasing decisions.
Storytelling – Storytelling is a powerful tool you can use to engage your audience and get press.
Tools that can help you reach your target market.
Google AdWords – An advertising platform that lets you place ads on Google search results and other websites.
Hootsuite Insights – A social media listening tool that lets you track mentions of your brand, competitors, and industry.
Moz – A suite of tools for SEO and inbound marketing.
KISSmetrics – An analytics platform that provides insights about your website visitors.
5. Analytics –
To make data-driven decisions, you need to be able to collect and analyze data. No matter how great of a gut feeling you have to make data-based decisions. Just because you prefer something, doesn’t mean it’s the right thing.
Learn to read big data, patterns, and behaviors – Take a course on big data, and study economics, behavioral psychology, and statistics.
Learn the 80/20 rule – The Pareto principle, named after Vilfredo Pareto (1848-1923), states that 80% of the effects are caused by 20% of the causes. Use data to determine what works and what doesn’t. Increase the amount of what’s effective.
Tools to use –
Google Analytics – A free platform that provides insights about your website traffic.
RescueTime – Track your time and everything you do on your computer.
Toggl – Tracking time and optimizing productivity across your team.
Google Keyword Planner – Powerful keyword research tool.
By having these technical skills for entrepreneurs, you will be well on your way to success in the digital age. However, it is also important to have certain soft skills.
6. Networking –
Networking is all about building relationships with other people. It’s how you meet potential customers, partners, suppliers, and investors. When done right, networking can be a great way to build your business. These social skills for entrepreneurs are important for long-term success.
Be genuine and authentic – People can spot inauthenticity from a mile away. If you’re not interested in the person you’re talking to, they’ll know. Be sincere in your interactions and interest in learning about the other person.
Follow up – After meeting someone, make sure to follow up with them within 24-48 hours. Send them an email or connect with them on social media. Let them know it was nice meeting them and that you’re looking forward to staying in touch.
Tools to use –
LinkedIn – A social networking site for professionals.
Meetup – An online platform that helps people find and attend local events.
AngelList – Social network for startups, angel investors, and skilled professionals.
CoFoundersLab – Online matchmaking service that connects entrepreneurs with compatible co-founders looking to join a startup.
7. Automation –
Being repetitive isn’t productive. It’s a waste of time and leads to a lot of regrets if you do the thing that can be accomplished by software. If you can’t accomplish something with software, learn to delegate it.
Automate tasks that can be automated – There’s software for almost everything. Making coffee, turning off lights, unlocking a vehicle, accounting, payroll, sales, email, marketing, content promotion, and other tasks are all possible with technology. Embrace these digital skills for entrepreneurs and make technology work for you.
Maximize your workflow efficiency – By automating tasks, you can focus on more important things. You can also use technology to automate processes and optimize your workflow. Research alternatives for the tools you’re using at the moment.
Tools to use –
IFTTT – A platform that lets you create “recipes” that automate tasks between different apps and devices.
Zapier – An integration platform that connects over 750 apps.
Integromat – Another integration platform with a visual builder for creating automation scenarios.
CoSchedule – Smart blog post headline analyzer.
Typeform – Free beautiful online survey & form builder.
For a budding digital entrepreneur, it is quite common to face certain challenges. However, one can overcome these challenges by leveraging expertise from different sectors. Benchkart’s Digipreneur program is the perfect solution for budding digital entrepreneurs who want to gain the technical and soft skills required for entrepreneurship. With ample training and support from top agencies, the Digipreneur program is the perfect launchpad for a successful digital entrepreneurship journey.