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Tag: leadership qualities

  • 10 Skills Investors look for in an Entrepreneur | How to impress an Investor?

    The internet along with modern technology has seen a boom in the past decade. It has stimulated a lot of young people to turn into entrepreneurs by crafting their unique business ideas. The 2021 Entrepreneurial Spirit Index published by IPSOS shows 29% of Generation Z ranked as having a very high entrepreneurial spirit, compared to 36% of Millennials, 33 % of Generation X, and 25% of Baby Boomers. As of 2022, there are reportedly 582 million entrepreneurs worldwide. This growth has encouraged more people and companies to become investors.

    The business you start might have huge market potential. But, for it to reach a wider market and attain success beyond the geographical limit, it needs constant financial support. This financial aid is offered by Investors and VCs who are always choosy about their investments. Investors expect certain qualities from entrepreneurs before they decide to invest. So, what are they? What are the qualities that an investor looks for in an entrepreneur? Let’s see.

    10 Skills Investors look for in an Entrepreneur

    How to attract investors?

    10 Skills Investors look for in an Entrepreneur

    Here are some of the entrepreneurial skills to impress an investor.

    In-depth Business Knowledge

    Pitching your business plan to investors requires inside-out knowledge of your business and its market. An excellent idea portrayed with poor business knowledge can be fatal. Moreover, the confidence with which you approach the investor has a direct effect on the funding. In-depth business knowledge gives you that confidence.

    Before preparing your presentation for investors, gain clear knowledge about the scope and problems of your business and market. Construct a plan to solve those problems. You can gain that by interacting with your prospective customers and other market experts. Look for the questions, criticisms, and suggestions that the investor might toss at you. Be prepared for such things so you can provide a satisfactory response.

    Team Building Skills

    Many investors prefer to invest in businesses that have a good team. As Will Herman, a popular Angel Investor himself said, he believes in a founder who has a good team. It includes not only the co-founders but also the management team as a whole.

    Every person can’t be an expert in all aspects of the business. So experiencing yourself in what you’re good at and building a team for other aspects can gain you a positive note from investors. Even an average business idea can be executed exceptionally through a good team. If you’re desperate about getting the investor’s concern, then knock on their doors with a competitive squad.

    Precision in Fund Requirements

    Being clear about the amount required and the ways of utilizing them is a significant factor seen by Investors. Opting for an open-ended request for funds shows your lack of business awareness. Get to know the market well and be as accurate as possible in your need for funds.

    Determining the channel of fund flow is another important and challenging factor. You need to be more specific to the investors regarding what ways their money will be utilized. It could be for customer acquisition, product development, or anything. Pitch them with specific numbers to gain their interest.

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    Communication Skills

    The primary quality of a good entrepreneur is his Communication skills. The success of a business depends on the coordination between various departments, teams, and stakeholders. All these can be successfully bridged through effective communication by the entrepreneur.

    Therefore investors expect entrepreneurs to be good communicators for effectively managing the business. This will be keenly observed during your pitching. Now, what makes one a good communicator? Deep knowledge develops confidence and this, in turn, grooms you to be a good communicator.

    Passion towards Business

    Create a vision for your business and develop a sense of passion while running towards it. The more passionate you are, the more determined you’ll be towards achieving your goal. The path to success in business will be loaded with ups and downs. How you overcome it depends on how passionate you are about your vision. Investors look for such dedicated and vision-driven entrepreneurs to invest their money.

    Organizational and Leadership Skills

    The success of the business depends on the way it is organized and managed. Coordinating teams, assigning appropriate tasks, and motivating them towards the company’s goals are some of the functions that come under organizational and leadership skills. A leader inspires his employees directly. Therefore, this skill becomes essential for the success of a business. Due to its impact on their investment, investors expect this quality in you during pitching.

    Adaptability and Learning Skills

    An entrepreneur should always be open to learning and suggestions. Adapting to the constantly changing market is a crucial skill that an entrepreneur should possess. It keeps you alive in the face of a competitive market.

    Experienced investors may provide you with advice regarding the business. Even some people you meet, customers, or your failures might teach you something. You must keep yourself open to such learnings. Failing to look around and close yourself off might land you and your business in trouble.

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    Problem Solving Skills

    Every entrepreneur must possess problem-solving skills to deal with day-to-day business challenges. Problem-solving is a combination of various other skills like analytical and critical thinking. It starts from identifying a problem and may involve taking complex decisions for business growth. You can develop this skill by going through various case studies of organizations and thinking from their perspective.

    Strategic and Critical Thinking Skills

    Strategic and critical thinking becomes essential for the overall development of entrepreneurial skills. You should be able to foresee problems from various perspectives to arrive at the best solution. Critical thinking becomes essential for making strategic business decisions.

    Developing the skill of thinking strategically and critically would help you out beat your competitors and expand your market reach.

    Marketing Ability

    Communication skills will help not only to sell your ideas to investors but also your products to customers. This requires a clear understanding of customers’ needs and preferences, your competitors, market conditions, and other external factors. Investors look for your team’s ability to convince a person and make them buy your product or service.

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    Conclusion

    Investors believe more in you than your business plan or products. Their investment depends on the value of trust you offered them. Trust can be built from possessing a combination of various skills mentioned here. Gaining as many skills as possible is always an added advantage to you and your business.

    FAQs

    What are the 10 Entrepreneurial skills?

    10 important entrepreneurial skills an investor looks for in an entrepreneur are:

    • In-depth Business Knowledge
    • Team Building Skills
    • Precision in Fund Requirements
    • Communication Skills
    • Passion towards Business
    • Organizational and Leadership Skills
    • Adaptability and Learning Skills
    • Problem Solving Skills
    • Strategic and Critical Thinking Skills
    • Marketing Ability

    Who are the top angel investors in India?

    Some of the Top angel Investors in India are:

    • Rajan Anandan
    • Mohandas Pai
    • Ratan Tata
    • Anand Chandrasekaran
    • Anupam Mittal
    • Kunal Shah
    • Dheeraj Jain
    • Gokul Rajaram
    • Amit Somani
    • Vijay Shekhar Sharma

  • 5 Skills that Make Introverts Great Leaders

    The word ‘introvert’ brings multiple thoughts to our minds. The most common perception that everyone has is that extroverts are amazing public speakers and make for good leaders. However, you will be surprised to know that even introverts make for great leaders.

    It is true that extroverts make for a great company owing to their vibrant nature, outspoken attitude, and socialite features. It is why they become quick decision-makers, make connections, and become great public leaders.

    With such extraordinary traits possesses by extroverts, people often think that introverts lack the chance to excel as leaders. However, that assumption is completely wrong. In fact, studies have shown that introverts make great leaders.

    To be honest, almost a lot of leaders around the world are introverts. According to almostleader.com, about 40% of leaders are introverted people. Strange, isn’t it? Are you still looking for examples? We have them here – Bill Gates, Marissa Mayer, and Steve Wozniak.

    All these biggies are successful in the business world despite being introverts. Some people may think that such people are stubborn, shy, or quiet. The scenario may be true, but that does not affect their productivity. It is the quality possessed by people that make them great leaders. The same case applies to introverts. Do you want to know why? Let us have a look into it.

    Introverts are Calm people
    Introverts Make for Great Listeners
    Introverts Do Not Like to Remain in the Limelight
    Introverts Resist Self-Defeating Impulses
    Introverts Crave Meaningful Conversations
    FAQ

    Introverts are Calm people

    Introverts are Calm People
    Introverts are Calm People

    These people are collected and calm by nature. If someone is stressed or anxious all the time, they can’t fix things. When it comes to leaders, people always want them to be calm and composed even if the situation gets worse at times. For the unversed, extroverts get easily upset or tensed in such situations.

    Introverts, on the other hand, are known to maintain their composure during this time. Calm people make great leaders and that is what makes introverts fit for the role. So, if you are an introvert still thinking about how to face the world, then now is the time to rethink your decision.

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    Introverts Make for Great Listeners

    Introverts are Good Listeners
    Introverts are Good Listeners

    These people are mostly thoughtful and observant. This is why they make for great listeners. Not only do they talk but they also listen intently to everything said by the employees, and other related people. Moreover, introverts are also vocal about their ideas and opinions.

    Apart from that, they are open to change and feedback. Such people consider the ideas of the employees and try to execute them. Everyone loves to give opinions and expects others to hear them. So, having an introvert as a leader is a plus point for all the employees.

    Moreover, such leaders are patient and listen to all woes with utmost dedication. This is totally the opposite of what extroverts do. These people love to talk and like being the centre of attention. However, it is the ability to pay attention that makes one a good leader. And once again, introverts prove their worth in this field.

    Introverts Do Not Like to Remain in the Limelight

    These people are humble people who do not like to remain in the limelight. Most of the time, introverts want their employees to take charge of tasks. It is an important quality of the leaders who give freedom to their employees to take charge of situations and exercise opinions.

    Introverts believe in one important thing – their task is to guide and not to micromanage people. For the unversed, micromanagement is known for lowering morale, making employees feel suffocated, banning creativity, and creating resentment. So, good leaders need to balance this scale and that is exactly what introverts do in their professional life. Perfect leaders never like micromanaging things – be it at home or be it at the office.

    Introverts Resist Self-Defeating Impulses

    Great leaders set examples for their employees. Introverts follow this rule in their real lives. For instance, if a person wants his or her employees to arrive on time, he/she follows the same rules. This focus helps them deliver better results in every aspect of professional life.

    Moreover, they also set a positive example for everyone working around them. The desire to do something better always stays inside the mind of introverts. This is why most of them love doing things perfectly. So, most people prefer connecting with introverts for the same reason. No one says no to good company and introverts definitely make for a good one. Besides, who wouldn’t want to adopt some good habits, isn’t it?

    Introverts Crave Meaningful Conversations

    For the unversed, introverts are those people who love in-depth and meaningful conversations. They do not want to waste their time on small talk. As mentioned earlier, they are great listeners and thus, gain deep knowledge about any matter that is discussed.

    Introvert leaders take a step back and listen to what their employees have to say to help them understand the situation better. However, people around them must make sure that they convey only meaningful information.

    Remember, introverts love short talk and that is what makes them unique from others. It is also their mantra for being great leaders. The best part is that people listen to introverts when they speak. They try to create a positive perception of things that makes others feel attracted towards them. Do you want to know why? It is because their contributions are always thought through and well developed. That makes them a valuable asset to the group.

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    Conclusion

    And here’s how we have busted the myth about introverts being less effective leaders. These people might be difficult to talk to, but once they open up, you will find an amazing companion in them.

    They not only make for great leaders but also successful human beings who inspire others with their motivational work. So, if you are thinking that your introverted friend has a long way to go, it’s time to think again! Introverts not only make good leaders but they also make for great companions. It is what makes them great personalities!

    FAQ

    Why might an introverted person make a good leader?

    Introverts are good listeners they crave in-depth and meaningful conversations, introverts avoid being in limelight, and introverts are calm people which makes them better leaders.

    What leadership qualities do introverts have?

    They are calm people, are great listeners, avoid the limelight, and they think first and talk later.

    Why introverts are better leaders than extroverts?

    Introverts avoid being in limelight they let their employees take the spotlight, introverts are calm during a crisis, and introverts are deep thinkers which makes them better leaders.

  • Be a Leader or a Boss? How To Manage a Team Most Effectively

    A person or any individual who has the authorization over employees or any organization is known as the boss. He is the person around to whom any worker can report about their problem or anything related to their job. It signifies that the boss is the immediate supervisor of the employees.

    The boss has the authority by which he exercises the given control over the workers or employees. Besides, a boss gives the orders required, assigns each employee under him their respective tasks, and maintains the record. The boss is the person who is entitled to make crucial decisions on matters concerned. The term ‘ Boss ‘ refers to a person who is the owner or the head of any organization. Thus, a boss can be any supervisor, director, or anyone working on any higher post.

    A leader refers to an individual who has the ability to motivate and influence people for the achievement and accomplishment of mutual goals. The term ‘leader’ refers to a person who graces that dominant position with much responsibility. He is the one who leads the other members of the team. He sets the right objectives, goals, and examples in mutual interest. He is the person who walks with a vision for society. The leader is the one who stays honest to his commitments for the sake of the goals set by him. A leader always keeps striving for the achievement of that mutual goal of people. The way a leader sets examples motivates people to follow his footsteps and directions.

    How to become a good leader?
    What are the efficient ways to manage a team?
    What are the benefits of being a leader rather than a boss?
    Conclusion
    FAQs

    Leader Vs Boss

    How to become a good leader?

    When a question like this arises, then the most important qualities which are cited in a leader are intelligence, assertiveness, conscientiousness. The enthusiastic and energetic leaders are known as Transformational Leaders. They are empowering, enigmatic, positive, and a lot more inspiring. These leaders value their followers as well as inspire them for better performance. So some of the factors to be idealized are:

    1. First comes that an individual should have a thorough understanding of his leadership skills.
    2. A leader must encourage his followers to improve their creativity. It makes a transformational leader intellectual. In return, it helps to achieve mutual goals.
    3. The purpose of fostering these qualities in the group members or the followers makes them go beyond limits and not get disgraced by mere failure.
    4. One of the main four components of transformational leadership is his idealized influence. It is the behavior and attitude of the leader, which makes him stand as a role model in encouraging their followers.
    5. A transformational leader is not worried about the completion of a task. But, he tries to inhibit the passion and genuine spirit among the members for the project they are working on.
    6. The essential quality of a leader is to create one-to-one communication among the people or the followers.

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    What are the efficient ways to manage a team?

    Managing Team
    Managing team

    It’s better to be a leader than a boss. The role of a leader in composing a team is not always about free and smooth sailing. In the beginning, a leader is responsible for a given assignment alone. It is the job of the leader to motivate, energize and lead the team to meet the mutual goals of the organization. It is not going to be easy to work with each and everyone. It is a great challenge for a leader to ensure a smooth drive without any speed breaker obstructing. So these are the possible ways to manage a team:

    1. A leader must keep the employees in a proper loop by regularly informing them about the current projects and their respective deadlines.
    2. A leader must communicate well among the employees and keep them posted about what is going on.
    3. A leader must know all the members of his organization individually on their root levels. It means that a leader is familiar with his group both from a professional aspect and a personal aspect.
    4. A better leader for the coming age must have the ability to prove his authority and take up some crucial decisions for the organization.

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    –

    What are the benefits of being a leader rather than a boss?

    First of all, this is a matter of great respect to grace as a leader for many people. It is because a boss is available anywhere bossing around for the job he is assigned. But, a leader creates the difference by bringing change for the achievement of mutual goals. But talking about this matter, there are more benefits of becoming a leader rather than a leader not only for an individual but also for the convolved. Here are quite a few points which can make an in benefits better:

    1. It is widespread that a leader leads his team but never rules it. A leader never works in front of members. Instead, he works with them.
    2. A leader never gets embarrassed to learn from a person holding a lower position.
    3. A leader always gives time and pays attention to his employees at times. It is necessary for their growth not only as great members but also as human beings.
    4. A leader looks to build better relationships, which will enhance the performance of the employees at the workplace. It makes employees quite creative.
    5. A leader always has a mindset of getting involved and helping the members at any point if they need it.
    6. A leader always tries to make adjustments according to the comfort of the members.

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    –

    Conclusion

    Therefore, a leader is better suited for the organization and a better option for its smooth conduct. It is because every member or employee hopes to see a leader around in the form of a boss. A leader is the only person who takes care of every happening and takes responsibility too. A leader always walks alongside to help at any point may be on a professional or personal level. Hence, a leader is the need of the hour. He is the demand of the society for the revolution rather than a mere boss.

    FAQs

    What are leadership skills?

    Best leadership skills includes:

    • Self-development
    • Team Development
    • Strategic Thinking
    • Ethical Practice
    • Innovation

    What is a good leadership?

    A great leader posses qualities such as:

    • Clear vision
    • Courage
    • Integrity
    • Honesty
    • clear focus

    What separates a boss from a leader?

    Being a leader requires going above and beyond the call of duty whereas a boss is involved in getting the  job responsibilities attained.

  • Entrepreneurial Lessons from India’s Most Iconic Captain – MS Dhoni

    MS Dhoni is the most iconic captain that Indian Cricket has ever seen. A journey which started from being a ticket collector to India’s most successful captain is something every entrepreneur should try to imitate. Dhoni has his unique leadership skill that can be useful to any entrepreneurs who are guiding a team or running a business. But there is a lot more behind the scenes of a man who inspired a common man to dream.

    For a man hailing from a humble background, conquering the world seems like a fairy tale. Dhoni’s unparalleled success in a short span of time has been accomplished by being fearless in tough times. He has always delivered for the nation when it has mattered the most. The leadership qualities of MS Dhoni have won India three ICC trophies which in itself is a dream for any player leading the side. There is much to learn from Dhoni for leading entrepreneurs and managers.

    Important Entrepreneurial Lessons from the Leadership of MS Dhoni

    Important Entrepreneurial Lessons from the Leadership of MS Dhoni

    MS Dhoni’s 7 rules of Success to which Entrepreneurs can relate

    Try Till You Die

    Building a business is like playing in unknown territories. One has to be involved in every aspect of the business. MS Dhoni as a leader didn’t dwell down on successive test failures in England and Australia. Rather, he led India to a tri-series triumph in Australia. He treats each game a new one and with it comes a new challenge. Keeping a similar attitude could greatly help startup founders and leaders to achieve the desired results. Dhoni teaches that victory does not mean never falling, but rising every time you fall.

    Leadership Qualities of MS Dhoni
    MS Dhoni

    Keep Calm Under Adverse Situations

    MSD is bestowed upon with “Captain Cool” by the cricket fraternity as he remains calm and composed even when things are not going his way. Everyone has to face up and downs no matter what your field is. But only a few have the ability to control the outburst of the emotions during tough periods. We rarely see him antagonized by bad deliveries, poor throws from the deep.

    Every entrepreneur must inculcate his calm and patient approach to deal with the worst situations in a business. A calm leader radiates confidence in a team. A leader, who keeps calm in adverse situations, can think rationally and take appropriate decisions. Thus, a leader must learn to keep clam.

    Lead From The Front

    A great leader leads by example. Be it a failure or a success, a leader takes full responsibility. A captain has to play a huge role in a sport as Cricket and MSD have always been at the forefront. The skipper is the man behind all the strategies, team combinations and decisions. Batting up the order in 2011 World Cup Final was one such a move which showcased his leadership style and ability to take responsibility when his team needed the most. The same holds true for an entrepreneur as his leadership style decides the fate of the budding organization.

    Bring The Best Out of Your Team

    MSD has been one of the few leaders who understand the strengths and weaknesses of every individual of the team. Choosing Joginder Sharma to bowl the last over of a T20I final showcased his belief in a young individual and this belief took the best out of the bowler in the crunch moment. This won India their first T20I World Cup. The Right person for the right job has been Dhoni’s philosophy that every manager or company owner must follow to get the best talent within the team.

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    Humbleness, Modesty, and Humaneness

    Above all those accomplishments as a leader and a player, there have been these innate traits that have earned MS Dhoni a name for himself. Seeing every success that a cricketer aspires to, he never got carried away with success. He hands over the winning trophy to his teammates which is his gratitude towards the contribution of every team member.

    Tell your team that the success that the company has achieved wouldn’t have been possible without them. Acknowledging every team member imparts confidence in employees and motivates them to work harder.

    Believe in your Instincts

    MSD has been the most unorthodox cricketer that India has ever seen. As a batsman, he is not technically sound as Sachin Tendulkar or Rahul Dravid and neither his wicket-keeping style resembles cricketing manuals. He faced severe critics for his batting and keeping styles, but he always believed in his abilities and proved others wrong. As an entrepreneur, you must learn to believe in your instincts and move ahead fearlessly.

    Final Words

    Dhoni’s story has everything to inspire a generation. The numbers speak for the man. Two ICC World Cups, Test No. 1 and Champions Trophy is a rare feat in a captain’s kitty. Take a bow captain! A true servant of Indian Cricket and a true human being.

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    FAQs

    What managers should learn from Dhoni?

    These are the leadership qualities of MS Dhoni that managers should learn:

    • Stay Calm
    • Stay Grounded
    • Lead from the Front
    • Encourage Others to Perform
    • Share the Credits

    Where is from MS Dhoni?

    MS Dhoni is from Ranchi.

    What is special about Dhoni?

    Dhoni is a right-handed batsman. He is known as the greatest captain of all time, having achieved more success than any other captain in the history of cricket. The Indian cricket team won the 2011 Cricket World Cup under his captainship.

    Who is the Inspiration of Dhoni?

    Hailing from a very small town of Ranchi, Dhoni dared to dream and with courage and guts make that dream a reality. Since a very young age, he idolized Sachin Tendulkar who is known as the God of Cricket and Bollywood actor Amitabh Bachchan.

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