Are you a new business owner or a start-up company? When you run your own business, you have to fulfil various different roles in the beginning. You probably started to work alone or with a partner. The moment your business grows and you start to employ others; you need to make sure that your team have the necessary skills to grow your business. By improving your own and the teams’ skills, it will assist you in achieving the success you want in business.
Any successful entrepreneur needs at least five essential business skills to take you all the way to the top. Here we explain what “hats” you need as an entrepreneur:
1. Marketing and Sales Hat
How will people know? Whether it is knowledge, a service or a product you have on offer, you need to be able to sell and market it. Creating awareness and building a brand is extremely important if you want to promote your business. Marketing should drive customers in to your business. Sales and the level of service you provide your customers with are what make customers come back and get you the money into the bank. Did you know that most entrepreneurs come from a sales background?
2. Planning Hat
During the early stages of development, planning is particularly important. Yes it can make or break your business should you not plan and strategize properly. Successful entrepreneurs stick to the plan, but also innovate and adapt as changes or challenges arise. Make sure you think of every risk, benefit, and cost of an option available and from every angle possible. Set realistic timeframes and budgets. Make sure you plan around your cash flow.
3. Communication Hat
A lot can be achieved with good communication. You can create loyal employees, charm customers to turn into returning customers, and convince investors for your business. Be friendly in business-to-business relationships. Communication is what builds relationships, sort out problems, helps everyone adapt to change etc.
4. Customer Hat
Keep your focus on the customer. The customer is paying your bills. Customers allow you to do what your do – remember they pay you to do what they want. Have time for your customers, follow up on satisfaction levels and remember to show interest in them both personally and professionally, whether it is to give a complaint or praise or whether you congratulate them on the birthday, asking them how business is going etc. You should give your customers opportunity to do better and grow. If they grow you grow.
5. Inquisitive hat
Look at what your competitors are doing. Research and use new technologies to make your life easier and show that you keep with the times, this can streamline your business goals as well. By implementing new avenues to reach out to new customers, you will ultimately grow your business.