Once the decision is made to follow a certain career path there is one question to ask – what skills will be needed? CEO of Universal Business School Sydney and author of The Unlikely Entrepreneur, Alan Manly explains the five key skills all successful entrepreneurs must have.

In the case of skills to be a successful entrepreneur, perhaps the secret is that there is no secret. Skills can be innate or learned, while the outcome may well be the same. So let’s look at what having a skill is all about.

First, what exactly is a ‘skill’? According to dictionary.com, a skill is “the ability, coming from one’s knowledge, practice, aptitude, etc., to do something well”. This definition includes several important elements that are crucial for any successful entrepreneur. However, entrepreneurship for many has insurmountable barriers and many folks may feel that they just don’t have the skills to ultimately succeed.

Let’s examine the five key skills that all successful entrepreneurs possess.