I shall be discussing Skill Sets Portfolio Entrepreneurs Need!!

Becoming an entrepreneur is critical because it has become clear that salary does not make one rich, because of the need for independence, and need to prepare for retirement

It’s wrong to become an entrepreneur after retirement if you are not trained for that. Research concluded that it takes at least 4 years to build entrepreneurial skill set

I have seen many retirees lose money because they think they can become entrepreneurs overnight

The skills take time to develop….asking an expert to be your partner is not even the solution

There are many types of entrepreneur that you can start with

Types of entrepreneur that you can start with

1. Innovator

2. Imitator

3. Buyer

4. Opportunist

5. Optimizer

6. Researcher

7. Juggler

8. Hustler

9. Wantpreneur (someone with rich idea that’s impracticable)

….today, my focus is on portfolio entrepreneur: someone who owns or operates more than one business at the same time

Kelvin works in government ministry. He formed a cleaning company in order to get contracts. He built car wash at his uncle’s empty land and rented it out. He opened a shop for the wife to sell what his friend imports from China. He is also a building contractor because he read Engineering. His brother manages a rental business for him and he also does MC at private hours

Kelvin is example of a portfolio entrepreneur and that’s how conglomerates are built.

Friends, we need multiple streams of income. A single product business is no longer in vague

The first skill is the ability to identify good location for your passion

Business is all about location. Not just location for business but location where your passion can blossom

There are peculiar businesses people with particular passion can manage together

For instance, actors can easily move into modelling,  boutique, crusaders, public speakers, advertising,  etc… find businesses that are compatible

Businesses are seen with the mind, not just the eyes. Grow your ability to spot opportunities by knowing exactly what you are looking for and where to find them

Read biographies,  stroll around your environment to know businesses that can thrive. Listen to people with openness and find a way to solve their problems

2. Build your Risk assessment skill You should know ahead of time the emotional,  financial,  career and business risk associated with the opportunity you wish to exploit.

People are too optimistic when it comes to business, that’s why they give up when their expectations are not met. Learn to be resilient and plan ahead how to mitigate the risk

An army officer is now a school driver because he lost his gratuity and pensions to importation business. Have an exit strategy before you invest.

3. Study strategies and become a strategist. Do not use haphazard approach to managing your business. Have a detailed plan and plan B. Be adept at failure management because people, customers, team, government will fail you. Failure management is a must have skill for 21st century entrepreneurs

4. Thinking skill (problem solving and decision making skill): People who worry instead of thinking never make good entrepreneurs

Also, people who delay decision making and wait for consensus always regret it. Grow your instinct and trust your guts!

Have you brainstormed before? Have you joined brainstorming session where you lock yourself with writing material until you come up with solutions?

It’s part of developing thinking skill. Develope analytical and critical thinking skill. Learn to look at business from customers and other person’s perspective

It is developed brain that makes money; a brain that can synthesize information and summarize events in a sentence. A brain that reads mind and predict the future. A brain that asks critical question that exposes lie

5. Information management skill. Learn to sieve fact from fallacy, emotions from the real gist. You need a skill to evaluate if an idea has a value or not. You don’t need an hour before you realize whether the person you are staying with have something to offer or not. Speedy way of processing information is needed

Communication skill is crucial. Build your abilities in person to person,  public presentation, digital presentation, and sales skill

Friends please I need your opinion.

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