Advertising
Advertising

5 Attributes and Skills Millennial Entrepreneurs Need to Succeed in Business

5 Attributes and Skills Millennial Entrepreneurs Need to Succeed in Business

A shifting trend has witnessed many millennial entrepreneurs joining the ranks of young business owners – 18% started their own companies in 2014 according to a global report.

Additionally, an ever increasing number of millennials consider themselves “entrepreneurial”; 70% were cited as saying that they would ditch working in traditional businesses to become full-time entrepreneurs, while one in five would quit their jobs and form their own company to become young entrepreneurs.

Did you know that the average millennial will most likely have four or more careers in his or her lifetime? No matter what industry you choose, as a young and ambitious entrepreneur, here are five skills and attributes you’re going to need to be successful in your line of business:

Advertising

1. Tap into Your Emotional and Social Intelligence

In the hyper-digital world where news gets around fast, you need to learn how to sharpen your emotional and social intelligence skills. The power of social media lets us easily connect with thousands to millions of people around the world. However, many believe that this has led to a general lack of creating real connections and meaningful person-to-person relationships. It’s important for a number of reasons and helps in building and retaining clients.

Communication mediums like email and instant messaging tend to put a cap on our ability to display certain emotions such as empathy and sincerity. As a millennial entrepreneur, you must understand the limitations these platforms pose, and learn a thing or two about effective communication. It’s all about making your client feel special and approaching them the way they’d like to be approached.

2. Be Your Own Best Manager

The number of professionals and freelancers working from remote locations has more than doubled over the past decade – millions today are seamlessly working without the need of any direct on-site supervision. However, to maintain high efficiency, you must develop exceptional self-management skills such as managing your own schedules, lines of communication, daily tasks, projects etc.

Advertising

Nobody knows your priorities or mind as well as you do. It is important to be in control of yourself and be your own manager. While you may need someone to manage your work, never count on them to manage you.

Tools like Basecamp, for example, can help you stay on top of daily to-dos and stay in touch with your team at all times to see what milestones are being achieved in real time. These tools also work great to let teams do “daily check-ins” and keep tabs on what they were able to achieve on a day to day basis. It’s exactly this type of consistent communication that allows every team member to own up to their tasks and eliminate the possibility of any bottlenecks.

3. Save Time by Utilizing More Productivity Tools and Third Party Resources

Being a millennial entrepreneur means you need to understand early on that time is one of your most valuable assets. You must know how to make good use of your working hours. Consider registering yourself on platforms like Upwork where you can save plenty of time by hiring experienced freelancers to oversee some of your daily business functions.

Advertising

Personal productivity tools such as Feedly and Evernote make it more convenient to stay organized, act on actions quickly and communicate with your team more effectively.  As your business start to explode and the time comes when you have to register your company, make sure you are with pros and cons of setting up different types of companies.

4. Capitalize on Mobile Digital Marketing

In the days of old, entrepreneurs had to make do with hard-to-scale and expensive marketing channels. As a millennial entrepreneur, however, you have the luxury of mobile digital marketing which makes its much more practical and quicker to identify your prospects’ needs, work on product ideas and test those ideas extensively before making your offer available.

Millennials are spending most of their time on smartphones – more than 65% of Facebook’s 8 billion video views come from handheld devices.

Advertising

If you truly want to be successful at selling and be an influential figure in today’s online business economy, you need to know how to tap into social media to get your message across. There’s such an overwhelming amount of meaningful content being produced every day on social channels that you need to stand out as a millennial entrepreneur. You might want to consider hiring a digital marketing firm with an established track record to take care of this aspect.

5. Understand How Financing and Investments Work

Owing to the 2008 worldwide financial crisis, a number of millennial entrepreneurs are still intimidated by the financial system. They’re using bots and computer programs instead of real financial advisors just to play it safe, and in some cases, not investing at all.

Financial information is something many people find overwhelming – to make matters worse, there are conflicting opinions or complex investment routes that millennials are often not willing to bet on. In reality, all you need is a good understanding of financial elements like debt vs. equity, cash flow statements, compound interest, balance statements and tax implications with regard to various financial decisions. Understand these and you’ll have full control over your financial goals and personal budget.

Good to know:

  • A new generation of millennial entrepreneurs is outperforming their baby boomer counterparts.
  • Millennials are embracing entrepreneurship much earlier than boomers did.
  • Millennial entrepreneurs today are generally more open to failure than boomers. They are also far more likely to keep going.
  • Millennials are focusing on much larger profit margins; 75% expect their profits to increase in the following year, which was 42% for boomers.
  • Facebook creator Mark Zuckerberg was a young millennial entrepreneur at the age of 31, when he became one of the richest people in the world, with a net worth of over $42 billion.

More by this author

Ahmed Raza

CEO of Samurais.co

5 Things Our Parents Expect From Us During Old Age 4 Powerful Strategies to Increase Conversions of Your Ecommerce Business 5 Ways Technology Can Help You Balance School and Life 4 Ways Businesses Can Stand out on Pinterest 3 Ways You Can Make Your Dad Feel Special This Christmas

Trending in Career Advice

1 The Lifehack Show: Standing Out in Today’s Job Market with Dr. Julia Ivy 2 Clueless On Your Career? Sabbatical vs. Career Break 3 10 Essential Career Change Questions To Ask Yourself This Year 4 10 Job Search Tools Every Jobseekers Need To Know About 5 If You Have This Key Behavior, You’ll Be More Successful Than 90% Of People

Read Next

Advertising
Advertising
Advertising

Published on January 7, 2021

How To Train Yourself When You Lack Attention To Details

How To Train Yourself When You Lack Attention To Details

Some people see the trees for the forest, and some see only the forest, meaning they lack strong attention to detail. But even if you’re one of the people who take a macro rather than a micro view, true professionalism requires balancing both.

If focusing on the fine points is not your forte, you will benefit from training yourself to pay attention to details. You will profit by saving yourself time, effort, money, and credibility.

Why Training Yourself in Attention to Details Pays Off

You add value to your organization when you make the effort to ensure that you performed your work thoroughly and effectively. This is why job postings often list “attention to details” among the required skills.

When you present your supervisor or client with well-completed, high-quality work the first time, it maximizes your value and minimizes wasted time. Detail-oriented people are also more adept at catching mistakes that could lead to costly blunders.

Moreover, attention to detail is an indicator of possessing other in-demand employee qualities, such as organization, thoroughness, and focus. In some professions, such as accounting, engineering, medical research, and more, you can only excel if you have trained yourself to pay attention to details.

In other professions, possessing strong attention to detail is the very quality that will get you promoted to a position where you will be asked to consider the big picture.

Finally, if you are the “go-to” details person, everyone else on the team can relax a bit. They know the project is in good hands and will likely throw you more projects as a reward. This will ultimately lead to your advancement.

3 Important Aspects of Becoming More Detail-Oriented

Here are the 3 important things you need to learn if you want to remedy your lack of attention to detail:

Advertising

  1. Respect deadlines
  2. Understand the work-flow plan
  3. Build in time to mess up

1. Respect Deadlines

Deadlines lend all projects a finish line. One smart idea is to take the given deadline and work backward from it, calculating when your piece of the project is due. Then, if you stick to the proscribed schedule for completing the mini-projects that you have, you will never miss a deadline.

One important note on this: It is smarter to stick to the deadline and turn in work that merits a “B+” than to blow the deadline with “A” work. Chances are, through revision and suggested changes from others on the team, you can bring up your B+ work to an A later. But if you disregard deadlines, you will lose the respect of your boss and fellow teammates.

2. Understand the Work-Flow Plan

Your team is developing work in conjunction with other teams who have projects and deadlines of their own. When you grasp the whole work-flow plan, you may be able to either add insight to the greater project or to your own smaller piece of it that others at the firm will consider valuable.

3. Build in Time to Mess Up

You can expect that “what can go wrong will go wrong.” Don’t overpromise on deadlines. Something likely will mess up, but when it does if you built in the time to fix it, those around you won’t freak out.

Chances are, you already give your attention to several details. Take heart. You can do this! You can overcome your lack of attention to detail and become more detail-oriented.

For starters, consider this: Most people take the time and put in extra effort into the activities or undertakings that matter to them most. Training yourself to become more detail-oriented can mean adopting a similar pattern of behavior.

Apply the same attention you give to your appearance. Are you a meticulous dresser? Do you pay attention to how you pair patterns and colors, and how you accessorize a particular outfit?

This is the same system to use when you lack attention to detail with your work. Give every item careful consideration so that each one contributes to the perfectly pieced-together whole.

Advertising

Assemble the ingredients the way you do when you cook. Cooking and baking from scratch require close attention to details as you measure and add each ingredient in sequence, and you time everything so that the meal comes together at the same time.

Similarly, your work product requires you to gauge whether all the ingredients have been added and that your final product is delivered on time.

Organize your business network like you do your social contacts. If you follow a broad base of friends and acquaintances on social media, you can apply similar skills to stay up-to-date on details associated with business acquaintances.

When you meet somebody who could be influential to your career or a resource for improving your skills, follow that person on social media. Respond to their posts to keep the lines of communication flowing.

12 Tips to Help You if You Lack Attention to Detail

Teaching yourself to take note of important details involves sharpening your perceptions and thinking ahead. The following tips will help you adopt these practices. Master these habits when training yourself to become detail-oriented.

1. Learn to Listen Well

You will pick up relevant information and needed nuance when you apply the skills of active listening. In conversations, train yourself to make eye contact, give your undivided attention to the speaker, and ask pertinent follow-up questions.

Training yourself to pay better attention to details in conversations includes learning to fully concentrate on what others have to say. If you find it hard, there’s no harm in taking notes on what they say.

2. Pay Attention to Social Cues

Make a point of noticing body language and facial expressions that provide insights into how others perceive a situation. Social cues offer details that give you an understanding of how words and actions impact others. The infamous character Michael Scott of the television show “The Office” epitomizes the consequences of not paying attention to others’ body language.[1]

Advertising

3. Follow Rules

Rules and protocols usually come about from lessons learned and are put in place to avoid further mishaps—whether from a safety or efficiency standpoint. If you’re given step-by-step procedures to follow, check them off as you go. Also, return to the rules at the project’s end just to make sure you adhered to them all.

4. Take Notes

Note-taking is a way to boost your retention and gives you something to refer back to when you need to keep track of pertinent details. You will also heighten your focus as you listen for relevant information. Review your notes shortly after the meeting or conversation and highlight the content that you intend to apply.

5. Prioritize What Needs Your Attention Now

When you have a full slate of work that demands your attention, take a few moments to sort assignments from most to least urgent. Keep a calendar, spreadsheet, or project planning software up-to-date with schedules and deadlines to help you stay organized.

As you tackle each urgent assignment, give it your full attention so no details are missed. Give yourself ample time—especially if you tend to be someone who waits until the last minute—as rushing can make you overlook important details.

6. Have a Detail-Oriented Assistant Check Your Work

If you lack attention to detail, then it makes sense to seek help from someone detail-oriented. If you have this option, take advantage of it. Two sets of eyes are better than one. Just be sure to credit your assistant for their help once the project is completed.

7. Learn the Rules of Writing Well

English is a difficult language, and grammar, punctuation, and spelling can all sabotage you unless you pay attention to detail. When in doubt, look it up. Free to use website services such as Grammarly can help.

8. Proofread Before You Hit Send

Nothing is perfect in its first draft. If you lack attention to detail, then put in the extra effort before submitting things. Before you send off any written work, check carefully not only for misspellings and incomplete sentences but also for improper tone, inappropriate colloquialisms, and inconsistent formatting. When your written communications are error-free, they will have their intended impact.

9. Minimize Distractions

It is impossible to stay focused when colleagues carry on conversations nearby or your mobile notifications ding you throughout the day. Do your best to limit distractions.

Advertising

If you are working where there is a lot of noise or side activity, try wearing noise-canceling headphones or seeking out a quiet corner. Disable your notifications when you need to focus, and resolve to only check them after you have completed your assignment.

10. Take Breaks

It may sound counter-intuitive to stop and take a walk, but it’s necessary. Walk away from the screen. Moving from one task to the next across the span of your workday is a recipe for brain fatigue. Give your brain a recess time when you come to a natural stopping place or after you complete one project and before you start the next. These short pauses are necessary for sorting through all the details needed for coming up with successful solutions.

11. Make Time for Reflection

At the end of a workday, take a few minutes to go over the day’s events in your mind. What was said or relayed in conversations? What is the status of the projects you worked on? What else occurred that you should pay attention to? Could there have been any details you might have missed that you should address tomorrow?

12. Keep a Detailed To-Do List

This simple organizational tool is your best ally for getting your work done on time and for paying attention to the details. If you are pressed for time (and who isn’t?), write your list to coordinate with dayparts.

Allot a certain number of hours to complete each task, do it, and then check it off. Nothing feels more rewarding than completing all the tasks on your list. But if you can’t finish them, then carry them over to the following day.

Final Thoughts

Details may seem small, but they can become a lot larger when they are overlooked. If you know you lack attention to detail, commit to training yourself to embrace the many facets that can help you consistently excel in the tasks you set out to accomplish.

When you begin to catch your mistakes in advance or apply the tidbits of information you gathered from paying close attention, you will know that you have trained yourself in the fundamentals of becoming detail-oriented. After that, you should start hearing the phrase “Great job!” more often.

More Tips on Boosting Your Attention to Detail

Featured photo credit: Cristina Gottardi via unsplash.com

Reference

Read Next