When I’ve asked those who are active at the BoP what skills are needed in the space, the answer I receive is deceptively simple: “everything.” Perhaps this is because, as long time BoP entrepreneur Patrick Donohue explained, BoP is really about the “creation of markets.”

After spending many months trying to determine what I “should” do in the field, I realized that I had asked myself the wrong question. The right question is, “What do I want I want to do in the field?” Even better, “What am I good at?” This, as Patrick pointed out, is the difference between causation, or allowing goals to determine means, and effectuation, or enabling the means to define the goals. As a result, what is needed comes down to what you can give and what lens you will use to examine the problem. Nonetheless, we can still agree that there are a number of practical skills that are particularly useful at the BoP.

Fortunately for me, I could look to none other than Sara Standish, New Ventures team member and fellow NextBillionaire, for the inside scoop. For those of you may not be familiar, New Ventures is a WRI program that supports sustainable enterprise creation in emerging economies by accelerating the transfer of venture capital to investment opportunities that incorporate social and environmental benefits. Sara’s work with emerging market entrepreneurs has led her to identify three critical needs for BoP producers: management training, access to new markets, and access to investors.

Not surprisingly, it is difficult for BoP entrepreneurs to find the appropriate resources. As a result, there is a need for management training that teaches business plan writing, business strategy development and financial literacy. By definition, an emerging market or sector often lacks role models to which new entrants can turn for best practices. Consequently, entrepreneurs need information about, and access to, less established sectors. BoP businesses also need working capital and the requisite knowledge to attract and manage venture capital funding. Finally, while achieving scale is challenging for both BoP entrepreneurs and MNCs, it is essential for success.

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