Skills for business success
Running a business is a challenging, but satisfying endeavour. Once you have decided that your idea could work as a business, you should take the time to consider whether you have the necessary skills to run your new business successfully.
You need a variety of skills to run your business. You may not have all of the necessary skills right now. To help identify areas that need development, consider whether you have skills in the following areas:
- effectively managing your team
- leading, training, motivating and mentoring your employees
- negotiating with employees and customers
- researching business ideas
- thorough understanding of financial reports and indicators
- financial forecasting and cash-flow management
- advertising and marketing your products
- winning new business and growing your sales.
- Learn how to assess whether you have the necessary skills to run a business.
- Find out more about starting a business by reading our business start-up guide.
- Find out how business mentoring can help you set up your business.
- Read about the principles of good customer service.
- Download the Australian Securities and Investments Commission's (ASIC) First Business app for more resources on starting a business.
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