Complete Business Skills LIST

Achieve Business Excellence

1. Sales

Sales is the exchange of money for a product or service. When you're starting a business, it's important to focus on sales. Being the salesperson allows you to learn about your customers and bridge the gap between marketing and the backend.

By having sales conversations and understanding who is the right fit for your product or service, you can refine your approach and avoid wasting time on the wrong audience.

2. Finance

Finance is the management of money within a company. It's all about understanding your core numbers that guide your business decisions. These numbers include your revenue, margin, and net margin.

Revenue is how much money you make, while margin and net margin represent how much it costs you to make that money.

The goal is to increase revenue and decrease costs. You track these numbers month over month in a profit and loss statement (P&L).

You don't necessarily need to create the statement yourself, but it's important to know how to read it. You can outsource this task to a firm that specializes in small businesses for a reasonable cost. This way, you can focus on using those numbers to drive more sales, marketing, and overall growth in your business.

4. Communication

Communication in business is about effectively sending and receiving information. It includes writing clear emails and ensuring others understand your message. It's also about speaking to your team and setting expectations.

Communication skills are crucial for success in business, but they can be developed over time. To improve, it's important to listen first and then express yourself clearly. It's a process of learning and adapting.

5. Human Resource Management

Human Resource Management is all about nurturing and supporting employees to create a positive and productive workplace.

One key aspect is properly onboarding people. By effectively bringing new hires into the business, you can address many potential issues and make things easier for yourself in the long run.

To do this, it's important to provide two things: context and skills. Context includes helping them understand the business and their role in solving specific problems. Skills refer to both the existing skills they bring and the ones you need to transfer to ensure their success. By focusing on these aspects, you can set your employees up for success and create a thriving work environment.

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