Entrepreneurial success is gained through the accomplishment of mission and objectives. Success and failure are tied directly to the entrepreneur’s reason for being in business, that is, their mission and objectives. Success requires being both effective and efficient.
With clearly stated mission and objective and producing the intended resulted, the entrepreneur is termed as being effective. Efficiency describes the relationship between the resources used and the extent to which objectives were accomplished.
The effective and efficient entrepreneur uses three basic management skills to accomplish the mission and objective of the business.
Technical Skills: the ability to use tools, techniques, and specialized knowledge to carry out a method, process or procedure. A typical example for us online marketers is the use of the autoresponder, imagine emailing thousands of prospects without such tool.
Human skill: used to build positive interpersonal relationship, solve human problems and build acceptance of one’s customers. Even though the autoresponder is such a great tool for communicating with one’s prospects, the human factor cannot be absent. The successful home based business entrepreneur knows that in order to gain the trust and loyalty of the prospect, personal communication has to be present.
Conceptual Skills: careful thoughts are taken about how decisions will affect the business overall and are made to benefit the entire business. Analytical, creative and intuitive talents are conceptual skills that an entrepreneur must develop.
Integrating these three management skills and continuously improving them will work wonders for the home based business entrepreneur as the business progresses.