Rewriting The Entrepreneurial Playbook

According to the 2020 report by Intuit and the Institute for the Future, Generation Y will emerge as the most entrepreneurial generation ever. As digital natives, they are quick to adopt new technologies, and are ready to change the world one startup at a time.

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generation that values freedom to choose their own path, with a high desire to customise their lives to suit their personal goals, members of Generation Y are recognised as initiators, leaders and creators. Highly individualistic, they also have a high requirement for flexibility at work.

This is also the first generation that grew up with computers at home and easy access to technology. As the first adopters of new technology, innovation is a central focus of their lives. All these characteristics have made them more and more inclined towards entrepreneurship.

From local businesses to digital startups, generation Y is behind most businesses across the world. But being a Gen Y member isn’t a guarantee for success. It requires passion, perseverance, a high learning agility and the right balance of knowledge and skills.

How does one become an entrepreneur? What are the skills required to succeed as an entrepreneur? Are there courses one can take to future-proof a career in entrepreneurship?

In addition to being a domain expert, with top-notch technical skills, entrepreneurs also need to possess other skills. Here are the top 5 soft skills required to succeed as an entrepreneur:

🚀 Learning Agility: As an entrepreneur, you have to be an agile learner, in order to stay on top of the constantly changing marketplace. Smart learning practices honed over time by continually consuming information and reading is a very important skill for entrepreneurs. To quote Harry Truman, “Not all readers are leaders, but all leaders are readers.”

🚀 Problem-solving: A major chunk of an entrepreneur’s life is spent in solving problems, making it crucial for you to enhance your creativity and critical thinking skills, which will help you think out of the box, and come up with smart solutions to problems.

🚀 Communication Skills: Effective communication not only helps team work better, and helps solve problems, it can also prevent problems! It goes without saying that communication skills are one of the most important skills for an entrepreneur, whether it is interpersonal and verbal communication, or non-verbal communication.

🚀 Teamwork: Vince Lombardi once said that “individual commitment to a group effort–that is what makes a team work, a company work, a society work, a civilization work.” While some entrepreneurs start as independent consultants and solopreneurs, teamwork is highly crucial in being a successful businessperson.

🚀 Global outlook: As the world becomes increasingly digitized, having a global outlook is extremely important for entrepreneurs, in order to learn from other markets and also develop markets in other countries.

Entrepreneurship is a journey that can’t be completed in a week, a month or even a year. From graduate programs to short courses, modern universities are now offering future-ready courses in entrepreneurship, innovation and even building startups. We are building a platform backed by the power of AI to help you choose the best program in entrepreneurship based on your goals, skills and personality.

For more tips and insights in become an entrepreneur, you can also check the excerpts from our live chat about entrepreneurship with Kalyan Sivasailam, founder and CEO of 5C Network and one of the dynamic young people recognized by the Forbes 30 under 30 list of 2019.

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