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4 Must Have Skills For Business Owners

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Leadership is the frontrunner in the school of business and entrepreneurship. When you come out as a business owner, there are intrinsic qualities which you must possess in other to be able to run that business from the ground up in a successful manner.


These skills are not optional, neither can they be bought for a fee, you the owner of any prospective business would have to grow yourself into those skills because they probably the factors that will decide whether your business will succeed or not.

So below are 4 must have skills which business owners must really have –

Financial Literacy

It’s a crucial skill in the world of business for anyone that doesn’t want to get duped in business one day. Likewise, learning how to manage your company’s finance goes along way to determine how the company will fare in the future.

You’ll have to learn how to manage the company’s money, how to keep thorough track of invoices and sells made for each day, how to plot a profit and loss sheet of the company annually in other to know how well the company is faring financially and places which needs more money attention etc.

All these skills boil down to financial literacy and they’re very vital if you’re ever planning to take that business to a professional business level.

So striving to be financially literate in business won’t really cost you much as all the information you’ll ever need are already on business start-up books in your favourite bookshop. Try and grab some pertaining to the areas you want to be financially literate on and learn everything concerning those areas in a thorough manner.

Marketing to Customers

Knowing how to market your products to customers is another very vital skill which a business owner literally needs.

Effective marketing of your products will obviously help boost your sales and help you get better leads too.

To market, you must strive to know where your customers meet more regularly and what types of products they buy more, how negative they respond to your competitors who sell similar products and how you can bridge that gap and leverage it to your own advantage.

However, marketing isn’t an easy skill to develop or learn; you’ll need to understand the reason why your customers buy your type of products and why they don’t. Then leveraging the reason they don’t buy your products, can repackage your products into a new product that fits why they don’t buy and make them buy it.

Knowing all this involves studying a little psychology, reverse psychology and some broad topics on it. Read some books related to those topics to grasp a little about understand the psychology of customers and why they buy the products they buy.

Remember:  “If you can’t do marketing, then you’re not fit to handle or head a business”. So learn it now so that your business won’t die a painful disastrous death.


Been creative is priceless in business. This is the very sole factor that determines which business is leading in a particular market in this world.

Let’s take Microsoft for example, they’ve being outranking the Operating System market for the past 20 years with their Windows series of OS, which still remains top ranking all because Microsoft invests more money in gathering creative minds who can create more innovative tools for the operating system in other to keep it rankings.

Business owners can take a cue from this example and aspire to be creative in their individual businesses. What are their competitors doing presently? How can they outrank them in their game?

All these things are exactly what business owners should sit themselves down to really ponder on and find ways to be creative in other to lure customers their way.

Remember: “The more creative a person is will determine how much leads he gets in his business”. So be creative with your business today and surpass your competitors.


Knowing how to network around to get words out for your business is yet another vital skill that you really need. Sometimes, it’s not what you sell or know, but who you know through networking that brings better business leads.

Likewise, a little networking or a little side talk with a friend can sometimes get you that contract that your business really needs. That’s why business owners should endeavor to network with as much people they can find a long their business line.

Going to conference, seminars, and keeping tab of the people will bring in more business leads in the long run. So networking as a skill is a much needed necessity in the world of business, because all the big time business leads you’ll get sometimes will come from you networking your brand to people in a conference or just plain talk with a friend. So learn this skill now and escape business isolation.

Remember: Sometimes the most wonderful way to get noticed by a swarm of business leads is to be the guy up on the stage.

So get in front of people and network your business to stardom in no time.

And finally, running a business all boils down to how much skills you have in place. If you have enough relevant skills to your entourage, then handling a business won’t really be a tough situation for you.

So strive to learn the components that you need in other for your business to be able to advance and continue to grow up exponentially. For example – If you’re a writer, then learn to write at least everyday in other to perfect the act of writing. If you’re a painter or sculptor, it still revolves around persistent learning of the skill in other to get to mastery.

So learn and teach yourself these skills about your business and watch better leads follow you into any industry you’re currently in.

However, I’d like to ask, which of these skills do you think isn’t really need? And why do you think it isn’t?

Let’s meet in the comment to share our views.

Thanks for reading.

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