5 Important Business Skills You Can Learn in 5 Minutes

Starting a business as a single mom is a bit more challenging that it is for the average person. You make the only income in the family to support it, so there is a lot more risk. On the other hand, being a single mom often gives you just the motivation you need to succeed in your business endeavors.

Improving your business skills can lead to great improvement in your career. In order to learn all these you need have to go for any educational institution. Just a weekly glance over the internet can give you a great start to your business. If you don’t concentrate towards improving your business, it’s sure that you are going to be stagnant at your business.

If you need some inspiration, check this out by Entreprenuer.com too see how these 10 single moms created their business!

Here are the top 5 skills needed to have a successful business 

1. Negotiation skills:

This is the main key difference between success and failure in any area of business. One of the very important benefits of having negotiation skills is that, you can save lot money and you can make more money for your business as well. In order to sell your product or secure your product, you need to negotiate yourself in order to bring it to existence. By following such methodologies you can achieve a larger margin of profit. Improving profit is one of the biggest achievements in every business. If you are in any business field, developing negotiation skills should be of your top priority.

Keep in mind, when negotiating, it is rare to get 100% of what you want. It is all a give or take process so make sure you clearly state what you want but be willing to give a little bit of it up.

2. Communication skills :

Communication skills mainly focus on your interaction with the customers, co-employees. Effective management is a part of communication skills. Being able to communicate plays a very important role in the pace of life and even in businesses as well. Skills such as effective communication and impressing new clients by your communication are very much important when trying to attract new clients. No matter how much knowledge you have, if you can communicate and sell the product, it will most likely be successful. Today’s working environment is changing at each and every step, so you have to be more effective with your communication that helps you in get advanced and success in business.

Word of Mouth is one of the most effective ways to get a product to be big, and you are the first mouth to talk about it, so sell it.

For example:

If a person is very highly talented and has spent hours together in preparing the brilliant presentation of ever in order to win the contract of very potential client but due to the lack of communication skills and confidence over it and unlike to convince the client with presentation. By lacking backward in all these factors, your new order will be lost.

3. Time management skills :

Time management skills should include time relaxing, family work, etc… It should be a top priority of personal skills towards success. So plan your schedule accordingly so that you can be committed to both your business and personal life. If you lack in the time management, you can’t achieve up to your expectation in any business. When having a business, you can become very busy and start forgetting out your health, so don’t overwork yourself! You must be able to manage the things efficiently and wisely with your time. Mainly you have to concentrate on your decision making so as to decide which area of work requires more work.

4. Stress management:

When you follow a proper time management scheme for your work, automatically stress management will follow you. Stress management includes deals with both physical and mental stress. It helps you to cope up with the stress and anxiety in your business. It also helps you to focus on your skills and habits and view through the business success automatically.

5. Decision making:

Success in any business depends upon the decision planning of your work. Development of good decisions includes checking of your wishes, priority and desires. It helps in making proper goals and is very powerful in remaining aspects of the business. Problems can be handled with the efficient decision making. Decision making and planning involves keen analysis and observation of data.

Any one can make a decision, but being able to implement it can become difficult. Make sure the choices you make are executable and are within your means.

Individual Development Account

As you begin to add the details to your business plan, apply for an Individual Development Account (IDA). You can be matched by up to $3 for every $1 that you put into savings and you are allowed to use that savings to start a business.

While you are gathering information and saving up your money, consider whether a college degree would benefit you in your business. Even if you just take a few business classes, you can use some of the funds that you get as part of your financial aid to obtain some of the things you need to survive while trying to start a business. Even if your business does no require a degree, getting an education will never hurt anyone and it might make potential investors take you more seriously.

Government Grants for A New Business

Check various government branches for specific grants that may relate to your business. You can either search through the listings on each government website or you can do a search for specific grants. You might be shocked to learn about some of the departments that handle grants. For instance, the USDA has a program to help potential homeowners buy their first house, but that is not the first place you think of when it comes to finding a grant or loans (like SBA loans) for housing.

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