Financial Freedom Series – Build Your Own Business (Part 11 – Business Skills)

Over the past few weeks, we looked at the terrible reality that 32% of South Africans are unemployed. In SA, it can be difficult to find a job. And, even if you have a job, you may still be battling to make ends meet.

Have you looked at all your options?

Are you prepared to consider an alternative solution?

Why not consider becoming an entrepreneur?

By starting your own business, you will not need to rely on others.

Could you use your current qualifications, skills, talents, experience, and passions to sell something you believe in, or to provide a service?

Could you offer a simple solution to help solve other people’s everyday problems?

Do you have a unique idea that could add value to others?

Let me give you a quick overview of a few key ingredients to succeed at starting your own business.

To start your own business or side hustle, you will need…

A PRODUCT OR SERVICE that can add value to people

CUSTOMERS who could benefit from your product or service

A simple BUSINESS PLAN to ensure your business can run efficiently

Today, I want to examine a few essential business skills you must develop to run your business efficiently.

Having a few good business and financial skills can be the difference between your business failing and succeeding.

A solid financial foundation and the right business skills will help you to run your business profitably and protect your investment.

To Succeed in Business, You Need These 10 BUSINESS SKILLS:

Passion:

You must be passionate about your business and believe in your product or service.

You need to set goals and have a business plan:

You need to know what your ultimate goal is.
What do you want out of your business?
Why do you want this?
Answering the “what” and the “why” will help you clarify what is important to you.
Your Business Plan should outline your aims and objectives and your strategy.

Communication skills

You need to communicate effectively with suppliers, staff, and customers.
Building good working relationships is essential to any business, so ensure everyone is on the same page. Communication is critical to building success.

Marketing

It is essential to promote your services and products.

Sales

You need a good strategy showing the value you can add to your product or service.
Having a good strategy will help you generate good sales opportunities.

Customer service

You need to treat your client well if you want to run a sustainable business.

Flexibility

In any business, you will encounter problems.
You need to be able to adapt your strategy and find solutions to take your business forward.

Management skills

If you have staff, you must learn to show leadership and manage your business well.
You need to hire the right people with the right skill set who will add value to your business.
Training and motivating staff is also vital to bring out the best in them, which will help improve your business productivity.
Learning to delegate responsibilities and keep your staff accountable is also essential.

Negotiation skills

You need to be able to negotiate with both suppliers and customers.

Networking

You can build good business relationships by building a network of like-minded people.
Networking can open new doors of opportunity, offer support, and help you grow your business.

In a Nutshell…

Can you use your qualifications, skills, experience, and unique gifts and talents to set up a business that provides a service? You could start small and work from home to cut costs.

Why not consider becoming an entrepreneur and starting a business or side hustle?

May God open doors of opportunity, give you wisdom, and take you on an adventure as you build your business. May God bless your business.

Please do not do it alone. Ask God for guidance. He wants to lead you.

Next week, we will continue to INSPIRE you and give you PRACTICAL TOOLS and INSIGHT to help you BUILD YOUR OWN BUSINESS to attain FINANCIAL FREEDOM while HONORING GOD.