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All successful entrepreneurs have these competencies

By Caitlin Leishman on May, 8 2017
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Caitlin Leishman

A little while back, HRSG released over 500 job descriptions covering a wide range of jobs, but one description that we didn’t cover was for entrepreneurs.

Some of this was because entrepreneurs rarely have a job description (making it hard for the AI to properly map it), and beyond that, most entrepreneurs jobs change from one day to the next. 

Since a job description is hard to pin down, the solution, of course, is to create a set of competencies (i.e. the behaviors needed to achieve a goal) that align with the entrepreneur’s vision.

This can be difficult to do from a technical standpoint; so often the focus moves to the competencies that tend to capture visionary leadership and charisma such as Achievement Orientation and Creativity and Innovation. We actually call these softer skills, knowledge and behavior sets, behavioral competencies.  


The Benefits of Behavioral Competencies for Entrepreneurs 

Behavioral competencies provide a tangible set of behaviors that align the vision of an entrepreneur with behaviors that seek to catalyze business success.

Building out your personal capabilities as an entrepreneur is an important first step to getting started on a proven approach to growing your business.  

Competencies have a key advantage in their applicability to a wide range of situations. This makes it easier to define the core competencies to build a team of people around. After all, while the competencies of an entrepreneur are important, few start-ups are comprised of one-person teams.  

By defining the core competencies that will be needed by the team in a start-up environment, it becomes easier to identify the people that are needed to support that business, and increase the chances for success.

This can be further supported through asking behavioral-based interviewing questions, tied to the chosen competencies, to identify the best candidate for the job.  


Using Competencies to Build Out Your HR Programs 

Competencies provide the perfect foundation to establish effective, scalable HR programs that introduces standardization and control of processes as your organization grows. 

As one of the key issues all businesses face are human resource challenges, introducing a standardized competency system helps to ensure a better quality of hire, and a closer alignment between employees and the business.

It also serves as an excellent way to begin building the HR function, and having a system in place for later when the start-up needs an HR function more directly.  

The biggest advantage entrepreneurs get with competencies though is the ability to formulate a strategy based on the competencies, as their staff will have a clear path to success.

Outlining a drive towards increasing sales in the company is much easier to do if the behaviors that lead to success, such as those found in Achievement Orientation, are clearly understood by all participants throughout the company.

Additionally, the communication advantages that competencies provide, ensures that all team members are united through a common goal and purpose towards a singular objective.  

Get Started with Competencies in Your SMB 

HRSG has the content and expertise to help you implement competencies in your growing organization. Talk to one of our experts to learn more about aligning competencies to your vision today.