How Entrepreneurs Leverage Their Talents to Grow Profitable Businesses

entrepreneur in meeting to build profitable businessSuccessful entrepreneurs leverage their unique talents to grow profitable businesses. One of the important steps they make is to take an honest assessment of which talents they possess. Then they analyze how these talents can be used effectively to transform their ideas into profitable businesses.  These individuals start with a vision they wish to reach and are willing to relentlessly work toward meeting that goal.  The talents upon which these entrepreneurs rely as they build their profitable businesses vary, but there are common character traits that they often share.  Here are examples of what these grit entrepreneurs utilize as they pursue their journeys.

  • They match their unique set of talents with the industry in which they are working.
  • They are ruthless with their time management and rigorously prioritize.
  • They view failure as not an option, but as a learning opportunity
  • They are willing to re-invent themselves
  • They never give up

These character traits allow entrepreneurs to keep going through difficult times and to remain disciplined, optimistic and focused on their vision.  However, these traits are only the starting point for creating a sustainable business.  Also, entrepreneurs must take advantage of their naturally gifted talents and combine these talents with the character traits listed above to create a formula for successfully building a profitable business.  Here are 4 tactics that you can deploy to leverage your talents and reach the vision of your dreams.

Maintain a big picture perspective.

As an entrepreneur leading a business, you bring certain skills, knowledge and abilities to the table.  Those talents are the foundation for how you successfully operate your business.  Leveraging your talents includes matching those talents with the industry in which you compete.  I understand that you may have started this business to experience personal freedom and be your own boss, but success only comes if you can identify which talents you possess and where you fit in an ever-changing industry landscape.  To grow a successful business, you’ve got to start with the big picture. How is this industry changing? How are you positioning your business to adapt to these industry changes?

Here’s an example of using your talents to build your business.  Both Steve Jobs and Bill Gates, two pioneers in the computer world, had different talents they used in building their businesses.  Jobs leveraged his keen interest in artistic design at Apple.  Gates started at Microsoft writing code.  Both were incredibly successful, because they knew how to use their talents to move their companies forward.  There are many formulas you can use to align your talents with the industry in which you work.  It’s simply your call to determine what works for you.  However, even as you put your head down to focus on the details, make certain to reference the big picture so you stay on course.

Realize you are always evolving.

Your natural talent may be one thing, but it branches into other things over time.  As you grow your business, you most likely have a core product or service that has become your prime revenue source.  This product or service was designed based on the talents you used in establishing your business.  As your industry changes and you grow in your entrepreneurial experience, take advantage of future opportunities still using your talent.

In my line of work as a business development strategist, I assist entrepreneurs grow their businesses by providing individual coaching and consulting.  The consulting business is expanding, and many of my colleagues are using the internet to expand their businesses and accommodate more clients.  To grow our business, I have branched into other venues to utilize my teaching talent and accommodate more clients.  I still work face-to-face with clients, but I also have e-courses, webinars, mastermind groups, and books available.  The talent I brought into the business has evolved and allows me to serve my clients in different ways but still fulfill my core company mission.

Part of the enjoyment of being an entrepreneur is embracing adventure.  There is no status quo in the business world, and taking advantage of your own evolution will keep you focused on new strategies that you can employ to continue in the journey toward your vision.

Find the right skill mix

Mix what you are (interests and passions) with what you know (knowledge skill and talents).  As an entrepreneur, you will need to combine both soft and hard skills to find a winning formula to grow your business.  Soft skills are your personal traits that enable you to interact effectively and harmoniously with other people.  Examples of soft skills are being resilient and optimistic; being a good listener, being a good motivator, and being self-aware.  As an entrepreneur, these are what can be leveraged to set you apart from your competitor.

Hard skills are measurable abilities and skills that can be learned through schooling and other types of formal or informal training.  Writing skills, financial analytics, design work, and internet marketing are examples of hard skills.  Most certainly, entrepreneurs possess several hard skills used to start their enterprises, but savvy entrepreneurs hire others to fill in with hard skills which they don’t possess rather than taking precious time trying to master a new hard skill.

Dream like you mean it.

Success often stems from an extraordinary execution of an ordinary idea.  Entrepreneurs are individuals who have a proclivity to strive.  Entrepreneurs love possibilities and often find themselves pursuing trails other people are afraid to traverse.  As an entrepreneur, your vision is your North Star.  It is your guiding light toward which you lead your company.  I find that many of my clients are afraid to dream big.  They are afraid they might not have what it takes to reach such a big dream.  Dreaming big takes optimism.

With an honest assessment of the talents you bring to your company, along with your willingness to learn and evolve, you can arm yourself with the foundational tools to build a profitable company.  No business idea is guaranteed to succeed.  As I stated earlier, successful entrepreneurs know how to learn from failures that occur along the way of their business building journey.  Because of their strong self-belief in the talents they hold, they never give up. Successful entrepreneurs always focus on building profitable businesses.

Download How Entrepreneurs Leverage Their Talents to Build Profitable Businesses as a pdf.

Dr. Ann Gatty is a partner at Drs. Gatty, LLC, a business consulting firm, helping businesses add value-assets to their businesses. For the past twenty years she and her husband, Gene, have been providing business leadership mentoring and solving HR employment issues. Ann has recently created The Business Sphere of Excellence® a strategic business planning model used to construct annual and long range business plans helping businesses run more efficiently and profitably. Dr. Gatty is an expert in understanding and improving the workplace culture which is foundational for implementing any successful strategic initiatives. In order to better explain the importance of employee engagement, Ann partners with Beretta, her Great Dane therapy dog to present her key findings. For more information about leadership mentoring or building a business to work brilliantly, visit www.strategicpeoplesolutions.com.
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