I believe that business, means business no matter where it is conducted! If I was to tell you, I have found a fool proof way of how to improve my business skills! To be honest it wasn’t difficult to find and once I made the discovery, I’ve never looked back!
This post is going to be focused on improving your business skills, because in business, if your not constantly selling, recruiting or buying, depending on your business model. You’re going backwards! So, it doesn’t matter where you conduct your business, you can always learn ways to improve how you work and if you’re of the older generation, there’s a lot happening online that you’ve probably missed!
How to Improve my business skills.
Nobody knows everything and in this amazing world that we live in, everything is constantly evolving. So, something you did yesterday, can be done better, easier and possibly more economically today. To be absolutely clear, you should make time to learn new things. It does make total sense, especially when everybody always wants to know how to make a little extra money.
So, when you ask how to improve my business skills, I feel compelled to answer your question. To give you the best guidance, I would first look at how any generic business could improve its standing, in a cut-throat business environment. And what skills you would need to make the changes work.
The first thing I would advise you to look at is your:
- In’s and out goings – cash flow.
- Your business efficiency – buying, selling and refunds, where necessary.
- Staffing issues – Too much or not enough help.
- Update your knowledge.
Now, the subjects I have mentioned above might not seem relevant at the first glance, but they are very important and they all require a good business etiquette to manage them correctly.
Finances – in’s and out goings.
One of the biggest problems with most businesses, is cash flow. Although, before starting your business, you should have constructed a business plan and that should contain a cash flow chart. Understanding and implementing your business plan is a skill, in itself. If you’re struggling in this part of your business, then this is the first part of how to improve my business skills could help you.
Balancing the books.
The term means, making enough money to cover all your business transactions. This means wages, utility bills and buying essential products, depending on your business model. I would like to point out one very important thing and that is, if you’re planning to conduct your business online, you might still need a business plan, but you will not have staffing issues, especially at the beginning. I would also like to add, your business wouldn’t have big utility bills either.
Back to balancing the books! So, you need to have a very firm grip on the reigns, when it comes to spending money. I have found that one of the smart ways to keep the cash flowing, is to spread payments out throughout the month, usually making a payment after I have received an incoming payment and usually not spending more than I got in!
I found that by implementing this little trick, I could slowly build up a steady amount of cash. Depending on how your business works you could also:
- Rent, instead of buying equipment.
- Have access to credit, in case of emergencies.
- Make getting paid a priority.
Renting equipment or transport – LEASE IT!
Renting has always been a very popular and sensible way to cut back on your outgoings. This is also taxable, so the advantages are twofold. If your business relies on equipment I would advise you to compare the prices of buying it, against renting, especially, if the piece of equipment is only used once or twice a year! LEASE IT!
But don’t stop there, implement the same strategy on your work and personal vehicle. Cars and vans can be very costly to maintain and they come with a lot of extra costs too! So, LEASE THEM too!
Have some credit at hand.
Having access to credit can be the deciding factor between your business surviving or going bust. Money is the life blood of every business and without cash, you would struggle to pay bills, put food on the table, keep a roof over your head, the consequences of running out of money can be devastating.
Managing money in a business is a skill in itself. By this I mean, it requires planning, the kind of planning that comes from executing a well constructed business plan. Follow your business plan and cash flow charts to the letter, but always keep a stream of credit available for emergencies. I would urge you only to take additional credit, if:
- There’s a very low interest charge.
- You have a good term of payment.
- No early repayment fee.
Taking credit can be very costly and will incur more charges! Please consider all options before taking this step.
Running a branch of your business or conducting your business solely online, does have its advantages. For instance, the cash required to start your business is minimal, this is because there isn’t any over-heads to contend with. It’s taken me quite a while to grasp and understand how to improve my business skills and now I’m passing on all I have learned, over to you.
Getting paid on time!
Most people find asking for money very uncomfortable, when in fact what you’re asking for is yours! You’ve’e performed a service, which someone or some business has requested and when payment falls due, you’re fobbed off! If you’re a small business, not being paid on time will cause ripples through your business. Now, this is about using your common sense, rather than saying its a skill.
When you perform a service, please make sure contract covers when payment should be received, It’s the only way to avoid any misunderstandings and uncomfortable situations, for everyone involved.
Having an efficient workforce.
Do you need staff? And If the answer is yes, then how much do you need and for how long? Most businesses, will need some kind of staffing to aid, efficient function of a business. Again, I’d like to mention this is not the case with an online business, well not initially any way! Some business start up’s will be run by a sole trader and has the business grows, so will its reliance on staff. To maintain that growth, but just like equipment, you have a few options to consider.
Depending on what your business is in need of you could:
- Hire a skilled contractor.
- Offer work experience – unskilled labor.
The important thing to take into consideration here is, you’re going to get the job done. There’s no need to take on a new worker onto your books, if the skills they possess will only be needed for a short period! To some this might seem harsh but please let me explain. Every member of staff will come with a lot of costs, that can over stretch any business budget. Use your skill and judgment to make rational decisions that will benefit the longevity and growth of your business.
Keeping up to date with business strategies.
We all know no day is like the day before and everything around us is constantly changing. But if we understand and accept this fact. Why do we expect our old business practices, we have adhered to for the last 10 years to still be effective! The true fact of it is they won’t. It is paramount that you constantly update yourself, in relation to your business.
This is a skill in itself! Although, to be honest all it really takes is a little time management. Set yourself 1 day a month to research your business and everything associated with it. The purpose of this little drill is to help your business, which will happen in a few ways:
- Competition – Discover new competition in your field of business and analyze them.
- New changes – More efficient ways to conduct your business.
- Network – Forge new alliances.
Always remember, when it comes to business it doesn’t matter how good the product or service is you’re selling. If there’s one to buy it! Always make to time to reach out to new customers!
How to improve my business skills through training.
There’s no secret that training plays a very important role in how you manage your business and how you implement your skills. Most entrepreneurs will access a new business proposition in a number of ways and I do believe it’s important you look at your business ventures, in a different manner. Look at your business opportunity, taking into consideration:
- Your chances of success.
- Your competition.
- Skills needed to make a difference.
- Where to obtain training for success.
Your chances of success are great!
You can achieve anything that you put your mind, heart and soul into and because you’re reading my review. Your chances of success have vastly improved! Do you know the reason why some businesses do better than others? Well the reason is this, they have associated themselves with other businesses, that are successful and knowledgeable. They are masters of how to improve my business skills and implementing these skills, has reaped many benefits!
You are now strategically placed to do the same. I would like to you start thinking like an entrepreneur, be constantly on the lookout for opportunities and believe me they do exist. Have you heard the saying, “When one door closes, another one opens“? There’s many people who believe in this saying and I am one of them!
The key is where to look for that open door. To make things easier, I have placed many doors in this post, all you need to do is choose which door is right for you!
Staying ahead of your competition.
Business is a funny thing, don’t get me wrong, I don’t mean its funny hah, hah, I mean funny peculiar. It can build you up or it can break you! It can make you rich or it can make you broke! I believe everyone who starts a business, does it with the intention of building themselves up and becoming rich. Well the only way to make this dream a reality, is to develop your business skills and then keep updating them. This will keep your business in good shape.
Competition is a good thing and without competition, there wouldn’t be much need to make regular changes. But unfortunately, it does exist and lots of it too. So, you need to make every day count, if you want to stay ahead. At the end of the day it boils down to the skills you possess, as well as the skills you’re prepared to learn! I’ve come across many business owners online and off and I have found most of them stuck in there ways.
First of all I’d like to say that being stuck in your ways, isn’t bad. But if you truly want your business to thrive, you’ll need to adapt or risk going out of business! Secondly, picture yourself back at school, any year is fine. Now imagine you’ve been selected to represent your house in the 100-meter sprint, what’s the first thing you start doing – practicing! Because you want to win or should I say do well, you’ve started training. That’s exactly what competition does for your business, except your losses will be a lot more.
Finding business training for success!
Up to this point I have suggested many ways for you to take control of your business. Improving your business skills, to boost your sales or output. But where would you find that type of training and what would be cost? Well by now you should have realized how important training is, but it doesn’t have to be a costly affair!
I would like to introduce you to Wealthy Affiliate. Wealthy Affiliate is a web based company that specializes in affiliate marketing. They have, what they refer to as a university. Now, this is why I believe they will be of great importance to you. I have taken an in depth look at how they operate and whether they are good value for money and this is what I have found.
They host one of the best online business platforms I have had the pleasure to use. They conduct live question and answer webinars, dealing with all types of business issues, such as:
Building a business website and all aspects of building a successful online business.
- Training in S.E.O.
- Building a social media presence.
- Video training courses, which are updated regularly.
- 247/7 website support.
- A. 2 million strong business network community.
They have all the answers and more to how you can improve your business skills. The good thing is that their prices are also very cheap and soon you’ll find, its also worth every penny!
I believe that building a business requires a lot of know how, or better still, you’ll need the right set of skills. Before I started my first business, the first thing I did was to speak to a friend, who was already running a very successful business. His words were very direct and to the point. He said, “Anyone can start a business, it does require effort and determination but if you take it slow, in a few years time you’ll have something to be proud of“. Those words have guided me through all my endeavors and he was right!
It has taken me many years and I’ll be the first to say at times I felt like giving up and not because my business wasn’t heading in the right direction, but because I was very impatient! I wanted everything to happen straight away and unfortunately business doesn’t work that way!
Time plays a very important role in life, no matter what you want to achieve, it’ll all take time! Your training will take time and the results you obtain from boosting your skills, will also take some time for you to see the benefits. But they will come!
My final words.
We all possess some kind of skills, the skills you possess could range from being good with your hands to having a natural gift for numbers. The main thing is that its a skill. Now, most skills can be built upon and this is where, getting the right kind of training can transcend your business to another level.
Conducting your business online or off, doesn’t matter. I believe the aim of everyone who starts a business, is to make it a success and the key to success is finding the right training.
Getting you to start your business and growing it, is my aim and I know, if I can help you to understand the benefits of improving your business skills. Then writing this post on how to improve my business skills, will fill me with overwhelming satisfaction and joy!
Your online business guide.