What are the business skills that I should master?

As a young entrepreneur, I believe that there are many things that i need to learn when it comes to business strategies. In order to be successful, I need to learn a lot of skills and master them by heart but I don;t know which skills I should be focusing on. What are the business skills that I need to master to become a successful business owner?

User comments

No Name

The first skill you need to master is strategic planning. In order for a business to succeed, a foolproof strategy must be in place and it must always be more than three steps ahead of the competitors. The most basic but also a very important skill to learn is communication cause you need to know how to communicate to your clients and employees and once you've learned how to communicate properly, you will learn how to negotiate. The most important skill to acquire and master is the Leadership skills for you are not only the owner but also the leader of your business. There are more skills to master but you should start off with these.

2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

How can market automation make my company better?

There are many advantages in incorporating market automation to your business. With your market being automated, you can focus more on doing more important things. You can also stay relevant to your customers as their needs constantly change. You can easily track results with market automation. There are more benefits to this so you should do more research and try it yourself.

Is it possible to run a small business using my SmartPhone?

It is definitely possible to start a small business usign your SmartPhone. Communication has been made easier with different applications, transactions and paymens can be done online, bluetooth keyboards can be used to send longer and detailed messages when necessary, credit card readers are now also available and cloud-applications can help business owners create, edit and post contents and ideas using their SmartPhone. There are many possibilities using your SmartPhones and it is just upto the user to explore and fully utilize it's capacity.

How do I start a business?

Before starting a business you need to ythink about what you love to do most. It will take some time but your passion would lead you to your success.Polish your knowledge on the field and spend time knowing everything there is to know about it. Then find your clientel and eventually realize that you want to achieve more. You could always find a mentor to guide you. Launch your product. You wouldn't know if you wouldn't try. If it fails then turn to another product. Perfect your business model and then turn your knowledge into products and watch your business grow.

How should I name my company?

Naming a business can be very hard but there are ways to make life easier. Fist step would be to thoroughly search the internet for suggested names but avoid names that are hard to spell and make sure that the name is not limiting to your business' growth. Make sure that you and your employees are happy saying the name. Make a list of names and make a survey to see which sounds better.

What are the different types private companies?

The first one is Sole Proprietorship where an individual who starts up a business, Partnerships whre two or more persons (up to 20) who create a company. Has Limited and Limited Liability versions and Private Limited Companies where the company is an entity separate to the shareholders who aren’t personally liable for any debts incurred. A public company just needs to register itself to the Singapore Exchange.

Should I be using a time tracking software?

There are numerous advantages in using a time tracking software. One of which is that you could hold your team accountable for how they use their time. Transparency and objectivity are the other advantages. Motivating your employees by using a software with an objective metrics. The main disadvantage to this is reductionism where you know how long it takes to finish the task but you don't know how it was finished. The most noticeable disadvantage is paranoia. This would cause your employees to be paranoid because they know that someone is watching them all the time.