7 Skills To Master Before Launching a New Business

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entrepreneur

This post-COVID era has, if not anything, created entrepreneurs out of all of us. This means that many people are looking to the internet for skills to master before launching a new business.

If you want to build a lasting business, you need to know the skills to master before launching a new business so that your business will outlive you.

Here are 7 skills to master before launching a new business:

1. Developing A Business Plan: By default, every entrepreneur must know how to develop a business plan. Most entrepreneurs outsource this function, but I would really advise that you learn it and create your business plan yourself.

If you are looking to reach out to venture capitalists, then you must be the one to develop your business plan, so that you will be well informed about the business when you pitch to investors.

It used to be difficult, but these days, there are so many business plan templates to download on the internet.

2. Facebook Marketing: In case you didn’t know, Facebook is the 2nd-largest advertising platform in the world, next to Google. As an entrepreneur, getting acclimatized with this platform should be top on your list.

It is a very important platform to get your products and services known. Facebook also owns Instagram, which means that, if you use the placements, your ads will show to your audience who are on Instagram.

If you want to really do this successfully, you must have determined your target audience and know their demographics, so that as you use the platform, you will be able to target specific people.

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3. Search Engine Optimizing: Search Engine Optimization (SEO) is a major tool for many entrepreneurs and marketers. Every business needs a website so that when people are searching for you online, your well-optimized website will be there to receive them.

With SEO, you can make your website rank on Google’s top search results page, just by optimizing the content.

There are also tons of plugins to download that will make your site well-optimized. an example is the Yoast SEO plugin. Also, a chrome extension like SEO Quake helps to inform you of how well your website is ranking.

4. Copywriting: Great copies sell products.

You must be able to write great sales content that will propel potential customers into taking prompt action. You must also have a third eye for error and be able to write contextual posts.

For instance, when writing copies for Instagram, study and understand the lingual and know that it is different from a copy for LinkedIn. Different content and styles for different platforms, so don’t go copying and pasting from one to another.

To understand better, you can read this post on choosing the right platform for your business.

5. Data Science: Data science is a scientific field that uses methods, processes, algorithms and systems to extract knowledge and insights from many structural and unstructured data.

Data drives everything in business. As an entrepreneur, if you understand how to model and interpret data, you will be a step ahead of the competition.

6. Project Management: Project management is the practice of leading the work of a team to achieve goals and meet success criteria at a specified time.

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Because project managers are in charge of tracking and organizing the priority of tasks and deadlines, they eliminate a stressor on employees who have to focus on the tasks at hand. Which means that you must focus on either learning project management or hiring a project manager.

But remember that when you are just starting up, you need all the money you can get to infuse back into the business, you might not have the budget for a project manager.

7. Public Speaking: The last but not the least skill every entrepreneur must master before launching a new business is public speaking.

Asn an entrepreneur, you must be able to pitch your idea to venture capitalists, bank managers and even your employees. Having the right public speaking skill is necessary for that to happen.

You must also be able to communicate your vision to the people that work for you. With the right skills, you are more likely to inspire people to get on board.

So there you have it.

What other skills do you think an entrepreneur should have?

1 COMMENT

  1. Very insightful article. I do agree with you that you should write your business plan yourself so you can get familiar with the business environment but what happens if you don’t believe in a business plan? Especially in countries where most thing don’t work as planned. Can you completely ignore it writing a plan? Would love to here from you.

    In addition to your 7 points, the last or 8 point should be sales. All entrepreneurs must know how to sell. Without sales there’s no business.

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