The year 2020 is almost upon us, not only is it the beginning of a new year, it the beginning of a new decade. Every decade comes with enthralling opportunities and also challenges. If you want to make a change in your professional life and accept new challenges, you can still make the most of this year by learning and investing in new skills.
Many factors and elements work together to create a recipe for success in work and in business. One of the most important ingredients to success is the ability to adapt as technology changes and new trends emerge in a fast-paced digital world.
Skills are fast-changing and as a decade is fading away gradually, new skills are coming up every day and to keep up in a fast-changing world, one must adapt, learning they say; never ends.
In 2020, the ability to come up with ideas, solutions, and responses will be highly sought after and will put you in front of your business.
As an entrepreneur, you must constantly be advancing and always recreate yourself. The need for constant learning and identify ways to improve your brand and business.
Here are 10 skills you need to have as an entrepreneur, to thrive well in the year 2020.
Curiosity and Idea Generation
Every great achievement and success begins with curiosity and inquisition, the quest to solve a particular problem and provide a solution for others, curiosity which in turn leads to idea generation. Great entrepreneurs are tasked to discover new problems, reveal a potential niche opportunity, redesign their original business process and innovate.
Time management is the process of careful planning and controlling how much time we spend on specific activities. Careful priority planning, defining milestones, execution, and iteration are all important. Effective time management helps you properly manage and control your time. It relieves you of stress: balance is key, it gives you an opportunity for extra time to spend in daily life, also, leads to more opportunities and finally helps you to keep tracts and realize your goal.
Strategic thinking is a process that defines the manner in which people think, assess, view, and create the future they want for themselves and others. Strategic thinking is an extremely effective and valuable tool. Learning to disintegrate a problem to its core and reveal an opportunity for growth. Finding new ways of creating solutions and identifying low hanging fruits, and testing concepts within a limited time with a low budget.
Efficiency is the quality of being efficient or being able to accomplish something within the least of time and effort. You need high performance when it comes to solving a problem. Applying the 80/20 rule and other techniques yield higher results in less time. Efficiency enables you to be able to switch between different chores and progress effectively.
This is the ability to manage one’s emotions. Handling rejections, stress, burnouts, can lead to lack of focus and slow progress. Determination and eagerness to fight challenges each morning and every day without telling on your emotion and how you relate with people is one of the greatest instruments in building and excelling in your business.
The ability to properly communicate your thought, ideas, product, and services to others in a crisp and concise manner. It is also the proper interaction with clients, partners, peers, and prospects.
Financial analysis is an integral part of any business as it can either make or mar a business. Handling resources properly and carefully assessing investment compared to ROI is a solid requirement for entrepreneurs. All finances must be properly accounted for.
Building relationships is the key to a successful business, leveraging influential connections, improving your social networking skills by expanding the number of ones’ business and /or social contacts by making connections through individuals via social media sites such as Facebook, Twitter and LinkedIn. Growing a network facilitates business opportunities and partnership deals.
Branding skills are essential in business, building a consistent personal brand tailored to the right audience and also igniting brand awareness in new verticals. Your brand speaks even better than you, effort must be made in branding/rebranding to fit the tailored need.
Customer service orientation is the ability to display positive attitudes and behavior towards your customers and client. Finding the right sales channels that convert better and investing heavily in developing them.
In addition to the above skills, the following are the fast emerging tech trend.
With the incredible experience and innovations in the technological world, from the rise of robotics and personal assistants to amazon Prime’s one-day delivery gamble and the proliferation of voice search, Nigeria is not left behind in the swiftly changing technology, as with the advent of fintech services such as Opay, Gray, PayPal amongst others. One may be curious to ask, what big Tech will change or affect the way we live and work in 2020?
Mobile commerce keeps taking first place in our lives for some times now, people have become used to shopping with their phones online. Services such as Jumia, Amazon, aliexpress, and Opay makes it easier. These fintech apps are fast evolving and payment made easier coupled with the humble QR code is back in mode. The world is gradually moving to a cashless economy. However, online shopping still has its perils as most times customers do not get what they see. Still, the service provider is working to get meet up with demands.
with the advent of the 5g network in Africa, the increased bandwidth will provide faster internet speeds with a simpler setup process. 5G technology which promises faster data transfer speeds and sub 5ms latency in the nearest future. 5G uses cases and applications for the digital transformation of industries such as mining, transportation, agriculture, manufacturing, and utilities. As if that is not enough, the 5G network will also facilitate the use of drones and driverless cars, allowing them to rapidly communicate with any other smart vehicles in their vicinity. In comparison, 5G boasts of faster data transfer speeds and lower latency than 4G, along with support for more devices with improved reliability.
Artificial Intelligence and the next industrial revolution
It has been said the next industrial revolution is that of Artificial intelligence. There have been many views and opinions on artificial intelligence, such as the fear that the rise of AI could evolve beyond understanding and take over mankind. AI, however, is still lagging in some areas such as Speech recognition. Platforms like Google, Amazon, Microsoft, Facebook and other large companies that use AI are already offering machine-learning solutions and training. AI is becoming an integral part of the business and even though it still cannot compete with humans when it comes to customer delivery and meeting tailored needs. It is, however, a force to be reckoned with.
The world is fast advancing and changing, as a decade is gradually fading away, we must not fade away with the decade but rise and be prepared for what is ahead.
The list above highlights some of the more interesting development, but it far from exhaustive. Whatever happens, 2020 will be an interesting year for major tech companies and entrepreneurs alike.