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To succeed on your own, you must understand and master the six core competencies of an entrepreneur.
Everyday I read and write. It’s one of the personal rules I’ve set for myself.
Being an entrepreneur, I find it essential to continue to develop my writing skills. After all, writing copy is one of the most valuable skills you can develop.
Additionally, I’m constantly reading to expand my knowledge, and also, from an endless curiosity for knowledge and to learn about new things. I’ve read dozens of books so far this year.
This morning, I was reviewing a section of Dan Kennedy’s “No B.S.” series, entitled; “Business Success.” If you’re not familiar with Dan’s writing, it’s truly NO BS. He’s blunt, direct and straight-forward. Any of his books are worth the read.
In the book, he lays out 6 Core Competencies of Entrepreneur:
- Ability to provide appealing products, services, and offers
- Ability to affordably acquire customers
- Ability to manage for maximum profit
- Ability to retain customers and maximize values
- Ability to develop value and equity
- Ability to meet personal and lifestyle goals
Successful entrepreneurs have learned to minimize tasks that detract from their most important activities.
Reviewing the above list, take stock of how much, if any, you’re dedicating to each task.
Are you stuck in number 1?
This list helps guide me in my daily actions. It help keeps me focused on where to spend my time, energy and money in the pursuit of building a business. My ideal is a business that can run without me, or that is so valuable, it can be sold. For me, it’s not about replicating a job that needs me to function.
What about you?
In reviewing the list of core competencies of an entrepreneur, what areas could you spend more time on? One suggestion, and what I do, is dedicate specific time each week to these core activities.
These are the most important tasks to be focusing on as an entrepreneur – which includes coaches, consultants and other professionals.
The first 5 core competencies enable you to meet the 6th of being able to meet your personal and lifestyle goals – and isn’t that what you went into business for in the first place?
For example, #5 may seem so remote if you’re struggling to get by. How can you focus on developing value and equity – or even what that really means – if you’re struggling to find clients each day.
But, by keeping an eye on value and equity, you can better create and provide products, services and other offerings that eventually contribute to the overall value and equity of your business.
Integrating the Core Competencies of an Entrepreneur
Review the list above and consider what you’re focusing on, what you’re not and commit to investing a specific amount of time to each.
Continue to work on and develop the core competencies of an entrepreneur. You may not see immediate results, but in the long run, if you keep your focus on them, you’ll see dramatic results in your business and life.
To Your Millionaire!
David Koons
FreeAgentCoach.com
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Tags: Business plan, core competencies of entrepreneur, Core competency, Dan Kennedy, Entrepreneur, Free Agent Coach
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