Assess your business skills checklist

Starting and running a business requires specific skills so it's essential that you identify the skills you already have, and the ones you may need to improve or learn. Read through the checklist below and click 'Yes' or 'No' to identify your skillset.

If you answer 'No' to any question, you know which skills you need to improve, which skills you could outsource and which skills to look for when recruiting staff.

Business management skills

Can you delegate tasks effectively?
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Do you have problem-solving and decision-making experience?
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Do you know how to maintain and control stock levels?
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Do you have experience coordinating and planning important tasks/projects?
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Do you have good time-management skills?
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Do you know how to negotiate successfully?
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Interpersonal skills

Can you lead, train, supervise, motivate and mentor employees?
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Do you know how to communicate and negotiate with employees and customers?
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Are you familiar with requirements for staffing and human resources?
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Entrepreneurial skills

Do you have an entrepreneurial spirit?
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Do setbacks motivate you to try harder or do you become frustrated and give up?
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Can you turn your ideas into a business?
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Do you know how to evaluate your business idea?
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Can you find new customers?
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Financial skills

Are you familiar with profit planning, financial forecasting, cash flow management and budgeting?
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Do you know how to manage payroll? Pay superannuation?
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Can you cost your supplies, overheads and labour to price your products or services effectively?
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Can you manage purchasing for the business?
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Do you know how to manage debtors and creditors?
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Do you have bookkeeping skills?
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Do you know your requirements for tax, goods and services tax (GST) and business activity statements (BAS)?
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Sales and marketing skills

Can you analyse your competitors and your customers?
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Do you know how to research the market, test your product and advertise your product?
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Are you familiar with different marketing channels?
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Do you know the best way to promote and sell your product or service?
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Do you have strong written and presentation skills?
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Note: To print this business skills checklist with your responses included, select File > Print (in the top navigation bar of your browser). If you select Print this page (below), you will print a blank business skills checklist.

Training needs analysis and skills audits

Your business may benefit from a more structured approach to assessing where skills need to be improved:

  • A training needs analysis is an assessment, often in the form of a questionnaire, which will identify if a training need exists and, if so, what training would best address the skills gap.
  • A skills audit will assess the skills a business needs to complete its day-to-day work now, but also what skills it may require under various future growth scenarios.

Each of these can be performed in-house or with the help of a specialist training company. Read more about getting outside training help.

Related links

Last reviewed
May 16, 2014

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