Keep in mind that you do not have to be an expert in each of the skills we mention, nor do you have to work on each of them yourself. You can hire one or more people to do these tasks for you, also another way is to outsource the work.
Common business tasks, traits, and skills
It is recommended that if you do the tasks yourself, hire others or outsource the work, that you are familiar with each job to know what is happening in your business, you are in control and can detect any errors that occur.
Skills to Manage a Small Business: This is a list of skills, tasks and traits that many business people need to have, develop or attend to.
Inventory management:
This task takes care of making sure you have enough inventory, ensuring your inventory is correct, and ordering new inventory before it runs out. You also need to understand different business trends to accommodate seasonal produce.
Accounting / Recordkeeping:
You can do this or hire an accountant to do most of the record keeping and data entry.
Programming:
This skill is not complicated, simply documenting appointments and deadlines will help you see the clear picture of what lies ahead. In addition to ensuring that you have full coverage of your staff, and schedule time off for employees without damaging your operation.
Marketing / Advertising:
You must have a good marketing sense, even if you hire a professional. It is good to know your marketing and advertising bases so that you do not waste your budget without results.
Website development, Maintenance:
You don’t need to become a webmaster, most people hire a professional to create a site, so all you need to know is how to update your website. To update important messages, sales you may have, manage a mailing list, etc. There is an exception of course, if you have a highly technical or comprehensive ecommerce site then you will need an expert.
Organizational skills:
An organized person is a great candidate to run any business. A person who is organized in actions is organized in thought! The more you practice organizational skills, the more it becomes a habit.
Risk management skills:
This skill allows you to assess risks and avoid taking them. Risk is a part of most businesses, but you don’t need to take risks that can lead to bankruptcy. On the other hand, you don’t want to miss out on an opportunity because you feel it is too risky, which is why risk assessment is a great skill to possess.
Effective decision-making skills:
You must build the ability to make good decisions; Good decisions make a stronger business and give much better results!
Time management skills:
Wasted time costs you money and productivity; you need to be able to manage your time effectively.
Be a nice person:
Deal with employees, customers, suppliers, etc. Anything that has to do with people requires you to become a nice person. The way you deal with people reflects every day on how people perceive your business, and how they want to deal with you.
Communication skills:
Communication is key to dealing with others. If you can communicate clearly, there will be fewer misunderstandings. Please note that communication is not only verbal, but includes emails, announcements, memos, etc.
Basic computer skills:
Most businesses require the use of computers. It is to your advantage to know the basics to be comfortable using a computer.
Leadership skills:
As a manager, you basically have a business. As a leader, you build a business. Building great leadership skills will help you grow in the best direction.
Basic math:
Every business deals with numbers, it is a bonus to brush up on your math skills.
Multitasking Capability:
In many cases, you will find that you will need to do many tasks at the same time.
Know how to listen:
Listening is a skill, it is not listening to what someone is saying, rather listening is understanding what the person is saying.
Business training:
Ability to manage, train and supervise employees.
Problem solving skills:
If you are running a small business, you will have problems. You have to develop an ability to solve problems quickly and effectively.
Appearance:
Your appearance affects the way people perceive your business. Would you do business with a man who: has dirty hair, dirty sweatshirt pants and running shoes, or with the same man, well-groomed, in a shirt and tie, with clean paint and smart shoes?
Keeping up with business matters:
It is important that you keep up to date with business matters such as licensees, insurance, permits, industry regulations, industry news, marketing, advertising, technology reverent to your industry, as well as the competition.
Quotes:
Some businesses require you to give them a quote. This is an important skill to master, because if you give quotes that are too high or too low, you will lose money or customers. Take your time and learn how to give accurate quotes.
Sales:
If you sell directly to clients, or have walk-ins, building your sales techniques will improve your slow cash and profitability. Making sales is the key to success.
Financial management skills:
The ability to take care of cash flow, manage your bank account, make sure you don’t run out of money, and make sound financial decisions.
Planning skills:
You must be able to make plans; Running a business without a plan is like walking in the dark. You need to develop skills that allow you to plan ahead.