Harnessing Unique Skills
On the entrepreneurial journey, some skills are essential for success. Among them, leadership, time management, the ability to make effective decisions and resilience to obstacles that will arise stand out. These skills are fundamental for any entrepreneur, regardless of the sector in which they operate. However, in an increasingly online world, digital skills have become equally crucial. Mastery of digital marketing tools and a good analysis of social media indicators can transform the way business is conducted. Traditional skills guarantee a solid foundation, forming the foundation of business models, and digital skills can boost growth.
Digital skills can be considered a set of skills necessary to successfully use digital technologies in the business environment. For entrepreneurs, the most important include the ability to manage and analyze digital indicators to make more assertive decisions, mastering digital marketing tools to promote products and services, using e-commerce platforms to expand online sales, social media management to engage and retain customers, and understanding cybersecurity to protect sensitive information. These skills allow entrepreneurs to quickly adapt to technological changes and take advantage of new market opportunities, strengthening the competitiveness and growth of their businesses.
In Brazil, a notable example is that of entrepreneur Luiza Trajano, president of Magazine Luiza. Under his leadership, the company invested heavily in digital platforms and e-commerce, transforming itself into one of the largest retail chains in the country – in the latest ranking released by the Conversion portal in June of this year, the company appeared in fifth place, among the ten largest e-commerces in Brazil. Luiza’s ability to lead the company’s digital transformation was crucial to its success, especially in a highly competitive market. Another example is that of Tallis Gomes, founder of Easy Taxi.
Using his digital skills, Tallis created an application that revolutionized the urban transport sector in Brazil. His ability to identify a market opportunity and develop an accessible and efficient technological solution was fundamental to the rapid growth of the business.
In addition to digital and traditional skills, networking is another crucial ability for entrepreneurs. Establishing a solid network of contacts can open doors to new opportunities, strategic partnerships, and valuable knowledge exchanges. Attending events, trade shows, and conferences, as well as maintaining an active presence on professional platforms like LinkedIn, are effective ways to expand your network. The ability to build and maintain professional relationships is a differentiator that can directly influence the growth and sustainability of a business.
Another important skill is adaptability. In today’s dynamic business landscape, the ability to quickly adapt to new situations and market changes is vital. Entrepreneurs who demonstrate flexibility and are willing to adjust their strategies as needed are more likely to thrive. This includes not only adapting to new technologies and trends but also the ability to efficiently handle crises and adversities. The Wadhwani Foundation understands the importance of these skills and offers resources and programs to help entrepreneurs develop this essential adaptability, preparing them to face challenges and seize opportunities in the ever-evolving market.
Furthermore, emotional intelligence (EI) is becoming increasingly recognized as a pivotal skill for entrepreneurial success. EI involves the ability to understand and manage one’s own emotions, as well as the emotions of others. This skill can enhance leadership, improve communication, and foster better team dynamics. Entrepreneurs with high emotional intelligence are better equipped to handle stress, resolve conflicts, and create a positive work environment. By prioritizing emotional intelligence, entrepreneurs can build stronger relationships with employees, customers, and partners, leading to a more resilient and cohesive business.
In conclusion, to stand out in today’s competitive business environment, it is essential for entrepreneurs to develop both traditional and digital skills. Even business models that were born offline must think about improving their digital skills. Together, these skills create a robust foundation to successfully innovate, grow and lead in the modern marketplace. With this in mind, the Wadhwani Foundation offers free education programs to develop entrepreneurial and digital skills.
Felipe B. Reis is a Ph.D. candidate at FEA USP, holds a master’s degree in administration from FEA USP, and conducts research on digital transformation and circular economy. He works as a Program Manager at the Wadhwani Foundation.
