Small business operators need to 'wear many hats'. In addition to being
a specialist in their area, they must also assume the roles of financial
controller, human resources manager and sales assistant.
The trick to fulfilling these multiple roles successfully is developing
many skills.
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Financial skills
- Understanding profit and loss sheets - cashflow management
- Budget
management
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Management skills
- Planning
- Leadership
- Organising
- Record keeping
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Customer service and
personal skills
- Selling ability - interpersonal communication
- Ability to deal with complaints
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Negotiation and conflict resolution
- Networking skills
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Marketing skills
- Promoting - pricing
- Distribution skills
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Technical skills
This will vary according to your chosen industry,
but may include the following.
- Extensive expertise in the main area of business.
- Specialist knowledge where appropriate.
- A strong professional network.
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