Do You Have What it Takes to Become a Business Owner? Key Skills You Will Need
Do you want to be the boss? When you run your own company, you don’t have to answer to anyone. You can run things the way you see fit, and you get to reap the rewards of the profits earned. However, not everyone is cut out for the job. Before taking the plunge with your first business venture, decide if you have the following skills. If not, you may need to work on them!
Communication is everything in business, even more so when you’re the boss. If you’re serious about going into business, you need to work on your communication skills, you should be able to speak clearly and confidently to people from all walks of life. You need to be persuasive- you can encourage others to help you achieve your vision by demonstrating it’s advantages, and pitching ideas in the best possible way. You need good communication skills, and be pleasant and affable when it comes to dealing with customers. Your written communication also needs to be excellent. Thankfully, these are skills that we can work on and improve- and it’s something proactive you can do before establishing your company. Things like public speaking, networking and other events and classes are fantastic for personal development and are also
Research has shown time and time again that being a stern boss doesn’t improve worker productivity. Quite the opposite, it can contribute to stress and actually decrease workflow. As the boss, you need to be able to empathise with your workers. Being able to understand them and work out what will make their life comfortable within their roles in turn will allow them to do their best work for you. Be kind and understanding if they approach you with problems, and be prepared to look for solutions that suit everyone. Of course, you will need to maintain professional boundaries, but being the kind of boss that people feel comfortable speaking to will benefit both you and them. Workers might approach you to tell you about issues that could have otherwise gone unnoticed for a long time. You will be made aware of things like workplace bullying and harassment that could be problematic for your business. Empathy is an unexpected skill that an entrepreneur needs
The ability to delegate
As the owner of a company, it’s tempting to want to try and do everything. Perhaps as a way of cutting costs, or maybe because you don’t want to trust others to do the job. But it’s not the way to go as the boss, you need to be able to delegate. Hire a good workforce you can trust, and then assign out the work according to employees skills and experience. Don’t hold the weight of the world on your shoulders, good delegation helps to boost productivity. For most entrepreneurs, the end goal is to have a business that runs without too much input without them so finding a good workforce and assigning out tasks correctly is essential. The last thing you want is to be micromanaging, it’s bad for your stress levels as well as your employees. Decide on what your tasks will be and stick to them. You will want to make bigger decisions, such as finding a web designer when setting up a new business or hiring staff. But for the day to day runnings, hire employees you know will do a good job and then allow them to do so.
Last, but most definitely not least, to be the boss it makes sense that you need good leadership skills. When you have a team of people working for you, they will be looking to you for guidance and you need to be able to do this properly. Work on thinking strategically, develop a vision of where you want to be and decide on a plan of action to make this happen. Be confident in yourself, your ability and your decisions, this confidence will reflect to your employees who will then put their trust in you as a leader.
It’s not to say that some people are born leaders, and everyone else is destined to follow. However, some people definitely have an advantage. If you don’t feel like you’re a natural leader then work on developing the above skills. Not only will it help towards your own self development, but if you go ahead with setting up a business then it will help enormously with this too.