Skills and Training for Business Success
Byline: CHRIS HETHERINGTON
WHILE being a business owner may put you at the top of the company hierarchy, it does not mean that you should neglect your own training and development needs.
Running a successful business means being able to access many skills.
As your business grows, the range and complexity of skills your business needs will grow too.
Training and development can therefore be crucial to building a successful enterprise.
There is, however, a core skill set that every business owner needs.
This will be the same whatever business you run -whether you''re a sole-trading graphic designer or you head a manufacturing company employing dozens of people.
There are intangible skills you will need, such as effective leadership, the ability to cope with long hours and hard work, and the inner resources to deal with stress and risk-taking.
Strategy-setting and the ability to build and manage a team are also vital skills for business owners.
There are also functional skills that all business owners need, and the smaller your business, the more of these skills you will need personally.
These include: Finance, including cashflow planning, credit-management and managing relationships with your bank and accountant Marketing, including advertising, promotion and PR Sales, including pricing, negotiating, customer service and tracking competitors Procurement and buying, including tendering, managing contracts, stock control and inventory planning Administration, including bookkeeping, billing, accounts preparation and payroll handling Personnel, including recruitment, dispute resolution, motivating staff and managing training Personal business skills, including computer, written and oral communication, and organisational skills. …