Empathy: what is the key role of this crucial skill for Young entrepreneurs?

Article by Materahub

According to Gartner Inc. “companies that base their customer relationship on empathy are three times more likely to be successful”. For the same reason the innovative marketing strategies are no longer based on aggressive advertising campaigns but on transparency, social impact and integrity. The goal is to understand the market demand from its roots, connect with the customer and understand their needs.

To understand the market, the company must be part of it: if the company remains a detached microcosm with its own rules, it will never be able to look at itself through the eyes of the users. Based on what stated above, all Young Entrepreneurs should know how important “Empathy” will be for their business, since entrepreneurship is about introducing innovations into a community, having a deep understanding and appreciation of the needs and desires of community members is a key entrepreneurial skill that plays a really important role in the growth of a business. With this human-centric, thoughtful, and compassionate approach, young Entrepreneurs will improve the workplace, benefits, and retention, and ensure the sustainable growth for their own businesses.

”As “thinking” human being, we all wonder if Empathy is innate or can be learned and the answer is summarized by Biologist Frans de Waal who explained that empathy lies within us as part of the DNA but we can nurture this skill to make it stronger or as said by Chade-Meng Tan (former software engineer and motivator at Google’s Office): “Empathy is preinstalled in our brains; we are all endowed with it. However, it is a quality that can be increased with practice involving awareness and the creation of empathy-oriented mental habits. The new main mental habit is kindness”. The entrepreneur who practices “the art of looking far ahead” and empathizes with her/his employees will make the company be prosperous developing great human resources inside the business that will take good care of her/his customers and will become sustainable. As Mary Gordon said: “The ability to understand and share the feelings of others, is a key skill for entrepreneurs that want to create impact. Everyone needs the empathic skill in order to adapt, make good decisions, collaborate effectively and thrive”.

So we can definitely confirm that the answer is YES! Empathy is a really important skill and plays an important role in Entrepreneurship and Young Entrepreneurs that would like to do a step forward to make our world a better place.