The skills needed to be a successful entrepreneur

Self relection
1. Are you able to reflect on your own personal performance in the business?
  1. Completing SWAT analysis to establish room for improvement and areas of success
  2. Identify where the business is going well
  3. Identify the weaknesses in the business
Leadership
1. Managing a team
  1. Ensuring everyone knows their job role and responsibilities
2. Running the business as a whole
3. Ensure the business runs smoothly and efficiently
Management
1. Employees
  1. Assigning tasks & goals
  2. Ensuring all staff know their responsibilities and the expectation
2. Business concept
  1. Where do you plan to take the business in the future?
  2. Political responsibilities
Recording and monitoring of performance
1. How well is the business doing?
  1. Turning profit?
  2. Breaking even?
  3. in its market and against its' competitors?
2. What resources are coming in and out?
  1. How much of each?
Human resources & staff management
1. Maintaining the well being of staff
2. Hiring staff
3. Payroll
4. Knowing and enforcing the employment legislation
5. Implementing human rights
6. Setting goals
Communication
1. Be able to deal with all manners and types of people in different situations
2. Listen & interact
  1. Employees
  2. Clients
  3. Advice
3. Strong supply chain
Technical
1. Use of tools & equipment
2. Management and maintenance of website and online store
Administation
1. knowing dates
2. Ensuring you file tax returns
3. Registering business
4. keeping records of money in and out
5. Keeping record of purchases, receipts, invoices
Know your market
1. Understand your competitors and what you are up against
Financial knowledge
1. Manage cash flow
  1. Monitor cost price, selling price and margins
2. Business plan

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The skills needed to be a successful entrepreneur

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	Created by Rosie Wallis about 8 years ago