It is a given that entrepreneurship begins with a great idea and the passion to pursue that idea to fruition. However, if all it takes is an idea then why do only a small percentage of these ideas succeed? Almost 90% of all new businesses do not make it. What then, is the answer? To my mind it is execution and good leadership that does the trick.

Soft skills or a person’s ‘Emotional Intelligence Quotient’ is the thin line that separates a good entrepreneur from a superb leader. These skills determine the nature of a person and his ability to succeed in all endeavors. Hard skills, or ‘Intelligence Quotient’, which comprises mostly of the technical knowledge in a field, can be learnt in classrooms, through books, etc., whereas soft skills, or ‘Interpersonal Skills’ have to be imbibed, practiced and explored. There are no stringent rules, but a general set of guidelines which helps every individual correctly interact with people around them and communicate not only basic information but make them comfortable to get appropriate responses.

Any C-Suite executive has to know the art of delegating work to individuals by understanding their abilities, even the ones that are not apparent. This has to yield maximum output and cannot be forced onto an employee. The executive needs to disseminate the story in a way that each employee relates to it and is connected to it for more than just the monthly pay cheque.

Amazon founder Jeff Bezos, follows some exceptional lessons for all who are pursuing organizational excellence. He uses the “Disagree and Commit” method where he openly disagrees to an idea but commits to it too, to keep employee morale up. Bezos writes, “It’s a genuine disagreement of opinion, a candid expression of my view, a chance for the team to weigh my view, and a quick, sincere commitment to go their way.”

An Entrepreneur goes through many situations which need thoughtful decision making that cannot be taken with only logical reasoning, the kind that only calculates permutations and combinations. Any decision is weighed with empathy and intelligence both, to yield the most effective of results. Self-awareness is the key to succeed in today’s world. Mary A. Laschinger, the CEO of Veritiv Corporation judges each candidate by asking them a simple question,

How do you get things done?

Laschinger says she asks this question to get three things out of the job candidate: their values, willingness to learn, and their technical capabilities. These all comprise of a person’s soft skills which give her/him the edge over someone who is intelligent but not ‘street smart’. It is said that hard skills may earn you an interview but it is the soft skills that will get you the job. Management would want to train and retain those individuals who show managerial abilities. They would be willing to teach the technical knowhow but want the person to have respect for different opinions, common sense and logical thinking. An ideal candidate needs to have integrity, strong ethics and be self-motivated. Alongside those, a healthy sense of humor, optimism and self-confidence can take a person a long way.

All individuals have goals and aspirations; they have their own cultures and thought processes that shape them. Each of them has to be treated subjectively. The cookie cut textbook rules do not apply to contemporary work environments where loyalty lasts only as long as the person does not find greener pastures. An entrepreneur has to learn the art of balancing all these facets and use them to his advantage. This is the only way any business can multiple in quantity as well as quality.

Entrepreneurs need not have the answer to everything nor do they need know everything. This does not show a lack; they are ‘Human’ after all. They need to give each individual the power to do take accountable decisions that work for not only the betterment of the company but also our society at large. I urge each individual to hone their soft skills to not only excel in their professional lives but also to become better human being

( Opinion Piece by Arvind Kajaria, Member, Entrepreneurs’ Organization, Kolkata)

Source: BW Disrupt