Episode 26 – What is the Number One Skill an Entrepreneur Must Develop?

Skills for entrepreneursIn today’s video, I will discuss what I believe is the Number One skill an entrepreneur needs in order to be successful.

As I explain, there are actually two skills that go hand in hand – Marketing and Sales.

Enjoy the video!

If you’re interested in networking and converting leads into sales, check out my video on Building Relationships in Network Marketing. 

Hope you get lots of value and feel free to check out the video on YouTube as well!

Video Transcription

Hi guys, this is Nick Pratt, welcome to another episode of Nick Pratt TV.

In this episode, I am going to answer the question I get quite a bit, which is “What is the number one skill that an entrepreneur or business owner or whatever needs to learn to be successful.”

I’m going to really share that in this video, I hope you get a lot of value from it, so stay tuned!

The topic for today’s video is What is the Number One Skill an Entrepreneur or Business Owner should learn to be Successful. It’s a pretty tough skill because, as you can imagine, as an entrepreneur or business owner you need to learn a variety of skills in order to be successful.

I’m going to give my take on the Number One most important, but I’m going to cheat a little bit, and kind of give two ideas that are sort of joined together. That is Marketing and Sales.

  1. Marketing is the ability to bring in new customers, it could be new sign ups for your business opportunity or it could be new customers buying your products. Marketing is the whole point of attracting people to you through the form of your marketing strategy.
  2. Sales is the form of converting those leads that you’ve generated into paying customers.

These two are both kind of related. I am going to cover each one.



So first of all, what you have to understand, as a business owner you’re job is to market. It’s to bring in new customers, new sales. I’ll give an example of this. If you run a gardening business, I once heard from somebody that it’s not that you’re gardening business, you are a marketer of gardening or landscaping services or whatever it may be. It’s not a case of you’re not the person who does all the work. It might be that when you’re just starting out, but the idea is to get to a position where you are controlling a machine that brings in new customers, new clients, whatever.

How does this relate to you if you run a home business? Well, what you have got to understand is that if you’re in a direct sales, network marketing, affiliate marketing program, whatever, you need to find ways of doing two things. First of all, you need to market effectively, you need to get enough leads in each and every week. You need to get to at least 20, 30, 40 leads, a day.


The next thing is you need to be fantastic at converting those leads. You need to know how to convert those leads. You need to use specific strategies, you need hold webinars, you need to use email, you need to talk to people on the phone, you need to talk to people on Facebook, you need to have ways of selling.

A lot of people are worried about selling, they think they can’t do it and they’ve got loads of hang-ups about it. They’ve got some psychological barriers. The point is, I sell. I absolutely sell. I sell to people on Facebook, I sometimes talk to people on the phone, but I also leverage a phone team, which is very powerful. It means I can outsource certain parts of that.

You may not have a phone team, that’s no problem. You can talk to me about that if you want to get your own phone team with my opportunity, but I’m not selling that at the moment.

The point is, I sell. I sell myself, and I also leverage those selling for me, like my phone team.

I do marketing and sales, I produce videos like this, I have advertising companies, I bring leads in.

I think work with some of those leads, and sell them something. It could be a product, it could be a lead generation system, or it could be my business opportunity. It doesn’t matter, but my point is, I find a way of helping them, and yes, I’m making sale.

Now what I want you to ask yourself is “Do you have this kind of machine in place? Do you have a machine where you’re generating leads where you can also convert them?”

If you don’t, then you absolutely need to do something about that. You need to learn how to generate leads. Reach out to me on Facebook, there should be a link to add me to Facebook, if you’re on my website that’s nicktrat.tv, there should be something in the sidebar to add me to Facebook. Reach out to me and I’ll give you some advice on marketing strategies and also converting.

This is the formula. This is the formula I learned from a mentor of mine. Traffic plus conversion equals money, okay? Traffic plus conversions equals cash, equals money. You’ve got to get traffic, you’ve got to get leads coming in. You’ve got to have conversions, You have to have a process to convert those leads.

That’s how you get paid. That is as simple as business is.

The number one skill is marketing and sales. I’ve cheated by using two because this video is about the number one skill, but it’s marketing and sales.

If you need help with that guys, reach out to me on Facebook, that is what you need to focus on to be successful in this business.

Hope this has helped, give this video a like, give it a comment and share it around. Please subscribe on YouTube.

I look forward to seeing you on the next episode.

Take Care.

About the author

Nick Pratt

I earn a full time income from the Internet and my passion is to teach other regular ordinary people to do the same!