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You have dreams of one day starting and running your own business. Yes you go girl! You have visions of working long but rewarding hours doing a jobs that you love. So it doesn’t really feel like work right. Sales are soaring and you have many happy customers. Everything goes smoothly and you live happily ever after.
Sorry for the buzz kill, but being an entrepreneur is not all smooth sailing and butterflies all the time. Whilst it’s vital to envision your brand and have goals of running an ideal business one day, it is important to note that there most definitely is a flip-side to being an entrepreneur.
It’s hard. And there will be days where you just want to give in. You will feel you’re treading in unchartered waters for most of the time at the beginning. You need the determination of Wonder Woman, grit, a go-getter attitude and an incredibly thick skin. And there are many skills you didn’t even know you needed to posses.
When it comes to skills, here are 10 essential skills that you need in your repertoire if you want to run your own successful business one day.
The dreaded sales. Vital for the success of your business, but not something you are entirely comfortable doing. Unfortunately, or fortunately, you’re going to have to get very comfortable with selling if you wish to have your own business.
In order to generate an income from your business you will have to sell. This entails constantly promoting yourself and your products. There are slimy sales tactics and there are tactics which can be implemented that don’t make you cringe. It’s all about finding what best suites you.
Most people are not confident and comfortable marketing and selling themselves in the beginning. The fact is you have to get comfortable marketing yourself.
With no boss or immediate superior as a traditional 9-5, the new challenge of managing your own time can be quite a daunting one. You’re no longer working on shared projects and in a team with co-workers. It all comes down to you. And if you want to succeed, then time management and managing it correctly is of upmost importance. The better your time management skills, the more efficiently your business will run.
Starting a new business is wonderful, but the one skill so very often overlooked is that of project management. Seeing a project through from start to finish will rest solely on you. It’s what makes running your own business exciting. But with the excitement comes stress, pressure and more stress. But if you want to succeed in your business then you will have to ensure that projects are completed on time and under budget. It may seem daunting but it can be done!
Unfortunately things never go to plan. It’s just the way it works. And when starting a new business, you will learn very quickly that many problems will arise on a daily basis. In order for your business to survive you need to develop problem solving skills. Problems need to be dealt with quickly and efficiently and you need to grow confident in your decision making. A good way to deal with problems quickly and efficiently is to have a contingency plans. So when planning A, if that doesn’t go according to plan then you can go to plan B. It will solve you time and stress.
Numbers, numbers,numbers. Not many peoples forte, definitely not mine, but a very important aspect of your business. We do not all poses the skill-set, but luckily you don’t need to be an accounting whiz. Fortunately you can pay people to do the accounting for you. Better yet if you have a friend or know someone who could help you out with a better rate. You are after all just starting a new business. That being said, you will have to grasp the basic concepts of accounting. It is after all your business and you will need to track your income, taxes, invoices and expenses. This all can then be sent to the accountant. Quickbooks is a great online tool that will help you to manage the accounting side of your business.
Networking & Building Relationships
If you wanted to start your own business and had visions of lounging around in your pyjamas all day…… then thats okay! You’re the boss and can run your own one woman show which ever way you want to. That being said though, building relationships and making connections is vital for the success of your business Building relationships with clients, people in your industry and vendors is vital. You can still work mostly on you own, but you need to ensure that you are networking and getting your brand out there.
Networking scares the living day-lights out of some people and it does not come naturally to all. You can start of small by joining group discussions on Facebook in your niche, or you can go to networking events. The decision is yours and there are plenty of options out there, you just have to ensure that you are building relationships.
You didn’t become a lawyer for a reason right. I know, but you’ll have to negotiate at some point or another. It might be a contract, payment or vendor terms. Negotiating can be stressful, and scary, but it’s just something that has to be done. There is an art to negotiating and it is something that needs to be practised.
Sorry I just resist the GIF above! Flexibility goes hand in hand with problem solving.Being ready and able to adapt to situations when they haven’t gone to plan is important. Learn to role with the punches and keep going.
Being organised is something normally associated with being OCD. But in business, if you’re not organised then you are wasting time. You have a million and one things to do in a day and in order to be more efficient, you need to be organised. A good way to do this is to make a to-do list for every day. Thus ensuring you know what needs to get done on a daily basis.
Knowledge Is Power
Although not a definitive skill, I believe that in order to succeed you must continually be learning and bettering yourself. By improving and learn new skill sets, you will be improving your business. So go out and keep learning!
Running your own business takes a wide range of skills and knowledge. But do not let that overwhelm you. Start small and focus on one section at a time. Remember that no one or business is perfect and that it will take time to reach your goals. Be patient, keep learning and enjoy the process.
Know someone starting a business? Share this with them.
What skills do you think are essential?