What Skills Make a Good Business Owner?

Are you a new business owner wondering if you have bitten off more than you can chew when it comes to the many hats business owners have to wear? Don’t worry! Here are some key skills to help make anyone a good business owner.

Communication

Arguably, this is one of the most important skills you can bring to the table as excellent written and verbal communication is a core skill as a business owner. Throughout the course of your business, you will be communicating with customers, clients, other business owners, suppliers and governing bodies. Think back to when you have communicated effectively in your working life, what did it look like? Are there any areas you could improve?

Financial Management

Financial management skills are a must in the business world to allow you to keep solid records, make a profit and stay on the right side of the UK tax obligations. If you are already strong when it comes to financial matters, you might feel confident navigating your business finances yourself. If you are in any way unsure, it’s always best to consult with a professional to get you on the right track.

Leadership

Think and act like a leader now because this is what you are. As your business grows, so will your team and responsibilities to them. A good leader will guide their team and will help everyone to stay on the same page and grow together. You might have to manage conflicts, personality clashes or skill gaps within your team. Do you already have leadership experience from a previous managerial role? If not, consider a short course in leadership to build your confidence.

Planning & Project Management

When you first start out, you might only have a project or two to manage, easy right? Remember that businesses can progress quickly and it’s always best to have the right project management tools in place early on for when you might need them. Alongside a well thought out planning process which draws on your skills and abilities, you could also explore project management tools to help you. Here are my tried and tested recommendations.

Problem Solving

As a business owner, it can seem like every new day presents a new problem to be ironed out but this is just part and parcel of business owner life. Consider your current problem solving skills. Are you confident in this area or do you need some extra help? If you feel like you need some support, I highly recommend working with a mentor or coach to help you navigate this side of your business.

What solid skills do you already possess which will help you as a business owner? Start by noting your strengths and then your weaker areas and come up with a plan to bridge any skill gaps. If you need some more support, I am happy to offer my help. Just send me a message to get started.

Now, here comes the salesy part….. If you need a website for your business, check out my portfolio here and get in touch. I also have a new brand which launched in 2023 called One-Page Web Design. This might be super useful for any start-up businesses.