To understand what entrepreneurs should expect in starting their own business may be a lengthy discussion, but to become an instrument to ensure everyone's success is more vital.

It is often stressed how an ideal entrepreneur should develop specific skills to climb the ladder of success. Through these skills, one may feel weighed down if the kind of business one has chosen is something that thet want to sustain. So, clearly an entrepreneur must have a passion for business; otherwise, the company will crumble.

Being the boss of the company means taking on a lot of responsibilities. Regardless of the number of people who work in every department, it is the entrepreneur's responsibility to look into every detail to ensure that the business operates smoothly.

An overlooked characteristic

If you were asked as to what you think is the most valuable skill that an entrepreneur should have, you may think of choosing one of the following:

• Innovation
• Financial Management
• Strategy Formulation
• Flexibility
• Networking
• Tech-Savvy

There is a long list of skills expected of an entrepreneur. It is pretty overwhelming, actually, but these are all needed if you want to sustain your business. However, despite all of these, there is one skill that some entrepreneurs may have overlooked—and that is empathy.

What is empathy?

Empathy is the process of fostering the capability of understanding and appreciating feelings, thoughts, and experiences. Since entrepreneurship is about introducing various innovations in the community, it is only fit that an entrepreneur should have a better understanding of what the community needs.

Simply put, empathy is having the ability to understand the feelings of another individual. Although, some entrepreneurs may raise their eyebrows when talking about compassion because they may view themselves as tough individuals and some may feel there should be no room for the soft-hearted. But, they should be clear with their company's mission and vision, including the importance to see right through another person and understand why certain things happen—which may sometimes be unavoidable.

The role of empathy in business

It is a challenge to see the world from other people's perspective. But, it is something that entrepreneurs should face if they want to become successful.  So, what benefits can empathy bring to entrepreneurs?

1. It motivates employees to be hardworking and productive. When employees see their boss being considerate and giving time to listen to their grievances, the employees would likely love their jobs more, thus making them highly productive.
2. A skilled salesperson does not only make a friendly smile and greets his customer with a warm greeting. He should also understand what his customer truly needs and that he addresses its concerns. And when customers see how a salesperson treats his customer positively, word of mouth goes around, which increases customer loyalty and sales.
3. The success of a business is affected by the kind of culture that it adopts. Belonging to an empathic company indeed gives it a slot to be among the most successful companies in the country. Certainly, having a positive environment attracts fortune.
4. Excellent teamwork and collaboration. For when a company personnel is open to multiple ideas, they create a broader perspective and develop better solutions. As the saying goes, "Two heads are better than one." 

Although, all of these tips may still not be a guarantee in making a successful business, unless one genuinely puts their heart into what they do. Making money as the only motivation to work will never be as effective as genuinely understanding others' feelings. It is essential that it becomes a part of the company's culture for everyone to feel valued. And by creating a better connection with others, it makes one have a better perspective and relationship.

Looking into an individual's needs is helpful because an entrepreneur gets to create a tailor-made solution. Remember, giving out financial rewards may not always be the best incentive to give an employee for his exemplary talent or skills. As one should not always impose financial rewards; rather, think of other ways to boost every individual to make a positive impact on your business.

Lastly, showing empathy is not showing weakness. It only shows that you value what others may feel and consider their feelings to build a stronger foundation not only for your business, but for customers and employees alike.

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