12 Business Skills You Need To Master

               

                 

The key is to know how to gather, review, and evaluate data that is necessary to formulate and express compelling arguments. 

 

•       Sales and Marketing Skills -- Establishing successful sales and marketing methods and policies - from pricing and advertising to sales techniques - are essential in growing your business. The ability to analyze your competition, the marketplace, and industry trends are critical to the development of your marketing strategy.  The key is to know how to craft and communicate a compelling message to the right target audience that generates new business, and in turn, builds profitable revenue streams.

•       General Management Skills -- Management involves directing and controlling a group of one or more people for the purpose of coordinating activities that will accomplish a goal.  Management encompasses the deployment and direction of human resources, financial resources, and technological resources.  The key is to know how to develop and implement a workable management system that will manage daily operations, nurture stakeholders, and support business growth.

 

•       Cash flow Management Skills -- Cash flow is generally acknowledged as the single most pressing concern of the small and medium-sized businesses. In its simplest form, cash flow is the movement of money in and out of your business. Cash flow is the life-blood of all growing businesses and is the primary indicator of business health. The effect of cash flow is real, immediate and, if mismanaged, totally unforgiving. The key is to know how to monitor, protect, control, and put cash to work.  

•       Financial Management Skills --The activity of finance is the application of a set of techniques that individuals and businesses use to manage their money, particularly the differences between income and expenditure and the risks of their investments. The need for timely budgeting and reporting of financial performance is of the upmost importance.  The key is to know how to interpret and analyze your financial statements, in such a way, as to identify the items that are adversely affecting your profitability.  

•       Time Management Skills -- Time Management is a set of related common-sense skills that help you use your time in the most effective and productive way. Time Management is a very important skill to master. Learning this skill will empower you to achieve more and to use your time wisely.  The key is to know how to manage your time efficiently and to focus on the activities most likely to deliver value to your business.