There are countless components that go into building a successful company, but soft skills act as the fundamental building blocks of a functioning business. Hard skills are considered to be job-specific, whereas soft skills are interpersonal skills, like listening and communication. 

Nearly 93% of employers said that soft skills are an “essential” or “very important” factor in hiring decisions. With the right blend of hard and soft skills, an entrepreneur is capable of great things.

Here are five soft skills that can help entrepreneurs scale their growth and lead successful ventures:

1. Confidence

A successful company starts from individual confidence. In order to motivate and inspire others, an entrepreneur must find reassurance in themselves. Other businesses and consumers will believe in your company if you consistently believe in yourself. 

Being confident also means becoming comfortable with being uncomfortable— taking risks will expand your business and place you above competitors. As an entrepreneur, and leader, it’s crucial that you not only possess confidence, but exhibit it throughout every step of your business ventures.

2.Self-Awareness

It is vital that an entrepreneur have a clear insight into their personality, especially their strengths, weaknesses, thoughts,and emotions. 

When an entrepreneur is self-aware, it can lead them to beneficial partnerships and agreements. Without good self-awareness, leaders become easily persuaded and spineless. Self-awareness also includes control. Becoming overly emotional, for example, can lead to detrimental impulsive decision making. 

“Self awareness is the ability to take an honest look at your life without any attachment to it being right or wrong, good or bad.” – Debbie Ford

3. Collaboration

From the day we begin talking, the ability to work well with others is pivotal to any project. As an entrepreneur, it is important to recognize and understand your own responsibilities. To do this, you must identify your business culture and have tools on hand to manage mutually dependent relationships. 

Active listening inspires collaboration within teams and creates learning opportunities. Without open collaboration or sharing and discussing information, the success of your business is  limited.

4. Time Management

Time is the greatest equalizer. No matter who you are or what you do, we all have the exact same amount of time in the day. Successful management of that time separates the great entrepreneurs from the bad ones. 

Entrepreneurs have many responsibilities; they are often jumping between tasks, hopping on calls, and attending events. They also tend to make every decision within the business.

It is crucial for business owners to find an organization system that works for their company and their goals. Creating a long term road map of company ambitions is an excellent way to distinguish high versus low priority initiatives. Entrepreneurs should create prioritization systems that employees can follow each month, ensuring business targets are met.

“Once you have mastered time, you will understand how true it is that most people overestimate what they can accomplish in a year – and underestimate what they can achieve in a decade!” – Tony Robbins

5. Resilience

Throughout your entrepreneurial journey, unexpected hurdles and setbacks are inevitable. The process of starting a business will not be perfect. What matters most is how you progress when the outlook seems bleak. Your ability to stay tough and weather the storm speaks volumes to your leadership— and will lead to a huge payout at the end of the day. 

Maintaining entrepreneurial resilience throughout rocky times will empower your employees while simultaneously building your credibility. Resilience will also inform potential clients and customers that you are willing to fight through thick and thin.

Soft skills are the backbone of every successful entrepreneur. While hard skills like financing and marketing are crucial to conducting business, soft skills provide the essential groundwork. Developing these soft skills will come with time, mindfulness, and an eagerness to grow. Take the initiative to prioritize these skills in yourself. Once you’ve done that, you can then cultivate those same qualities in your business.

Do you think soft skills tend to be more important than hard skills in today’s business world? Share your thoughts with us below!