Essential Skills For Small Business Owners

Small business owners are often a Jack of all trades. They have to know at least a little about many things. On any given day they could be called on to do things they don’t necessarily know how to do well.

Here are some essential skills all small business owners should have, or work on achieving.

1. Small business owners need to at least have basic bookkeeping skills. Even if you have the money to hire someone to do your bookkeeping, you need to be able to keep an eye on what’s going on with your money.
2. If you own a small business you need to have some marketing skills. You need to understand where your marketing dollars are going, and how much your company is benefiting from the money spent. What is your marketing rate of return?
3. Today’s small business owner will be way ahead of the crowd if they understand online marketing and social networking skills. You will be able to market your business to a global crowd.
4. Small business owners need to have strong problem solving and decision making skills, or your business will get no where. Everyone will be looking to you for a decision. When there’s a problem you need to know how to solve problems on the fly.
5. Owning a small business means you have to have people skills. You have to be able to deal with customers, suppliers, and other business people in a professional, courteous manner.
6. Small business owners need to be good planners. To run a small business effectively  you need to set up a business plan, goals, and budgets. Just to get started.
7. Being a good leader will get you a long way when you’re running a small business. If you lead and your employees don’t follow, there could be a problem.

I’m sure I didn’t think of everything. What essential skills do you think I should add to the list?

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