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Are You a Business Owner? The Must-Have Skills in the Modern Age

Updated on March 1, 2016
A young businessman.
A young businessman.


In today’s ever-changing business environment, one must learn how to be dynamic in terms of skills.

Knowing is not enough. Knowledge in business will not even suffice. What's required for survival in a fierce modern market is have competitiveness in all aspects.

You must perform and deliver what the present circumstances require. You don’t need to call on someone to help you every now and then.

You can do it on your own and you must do it yourself. This is the true mark of a holistically competent entrepreneur.

Thus, if you are a business owner who has been passive about these things or you are someone who is planning to put up your own establishment soon, it is best to prepare yourself by learning the skills required to survive the dynamic trade and business industry.

You have to be effective and efficient in making decisions.

You might wonder, is there a difference between the two? Are they not the same? Actually, there is big difference between these two business terms, but they are interrelated. This goes to say that you have been an efficient manager if you have been effective at what you do, and vice versa.

As the owner and manager, it is very important to be able to decide on matters effectively and efficiently. When we say efficient in making decisions, it means the process has been thorough yet within the prescribed period. Being effective, on the other hand, is measured by the result of your decision. Balancing these two requires decision-making skill.

Manager with authority.
Manager with authority.

You have to observe the principles of management.

There are actually 14 principles developed by Henri Fayol. You should be able to divide the tasks between your employees. In other words, there should be division of labor. As the owner, you need to know the expertise of your workers and assign them to the right department accordingly. That way, you can expect them to perform better.

Aside from this, you must be a man or woman of authority; in such way, that everyone listens to whatever you say and follows as a result. Discipline must also be present in your company. You have to learn when to give positive or negative disciplinary measures. Overall, an entrepreneur must be an expert in managing people. You must have the skill that can make everyone perform at his or her best.

Table meeting.
Table meeting.

You have to build healthy relationship with clients.

Remember that without your customers, your business will not exist nor flourish. In other words, the success of which depends on how well you value your clients by giving them the best service possible. They should be on top of your list of business priority. Always listen to what they say because at the end, it is them that matters.

It is even said that as the owner and manager, you must be able to have a special place in the heart of your customers. If so, they will always think of you before others. They will go to your first and will do anything just to get your product or service.

If you reach this level of relationship, you must also learn how to maintain this in the next generations to come. Just remember that honesty and fairness to your clients will always result to trust and loyalty.

Business meeting.
Business meeting.

You have to become pro in digital marketing.

In this modern age, you have to learn the new and advanced ways to market your business. Almost everything now is digitized. In fact, you can communicate with someone through online calls, video conferences, chats, and more.

As an entrepreneur, you need to know how to use the most recent and advanced ways to advertise your products or services. One of which is using search engine optimization. Your website have to be optimized for this purpose so that your business will become more visible to searchers or users all over the world.

Another is social media marketing. Your company must have accounts with Facebook, Twitter, and other social media platforms in order to widen your reach especially to the younger generation. Sending electronic mail can now be used for marketing in the way of newsletter sign up and the like. Blogging, mobile marketing, and others are also very important to learn.

These skills are not difficult to master as long as you are in good hands. You can always find a school that offers a training or course about it. For example, if you are based in India right now, you can directly negotiate with the Delhi School of Digital Marketing – one of the premier schools offering digital marketing course in delhi.

Start-up online marketing study.
Start-up online marketing study.

You have to be adaptable to different situations.

Business in itself is ever changing in nature. As such, as an entrepreneur, you must have that vibrant, dynamic, or adaptable attitude or personality. You must be open to any possible changes and be able to adapt but at the same time, maintain your own identity as a leader with authority and effective decision-making skill. Be mindful that life is full of ups and downs, and so is your business.

Talking to co-workers.
Talking to co-workers.

So having known these necessary skills, can you say that you are holistically prepared to run your own business?

Which do you think is the most challenging business skill?

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