5 Skills Small Business Owners Need To Know

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5 Skills Small Business Owners Need To Know

Being an entrepreneur means wearing many hats, especially if you’re just starting out. For many small businesses in this day and age, years pass before there is enough room in the budget to pay someone a salary. Many entrepreneurs don’t even collect a real paycheck their first year, so you have to learn as much as you can to grow your business quickly. If you’re running an operation solo, here are five skills you should start learning to give your business an edge.

Fleet Management

If you are interested in owning a fleet, then you’ll want to learn how to manage commercial vehicles like a boss. You can review a fleet manager’s guide to dash cams with GPS tracking here, which are one of the leading safety features in trucks today. Dash cams and fleet management software give you an in-depth look at how your fleet is running, how drivers are performing and how to improve to reduce costs.

Graphic Design

You might outsource your content now but consider how much more effective it would be to know how to make your own designs. Graphic design is about so much more than a logo and sleek website. With the right design skills, you can make all your business’s promotional material, including business cards, posters, social media posts and the like. Being able to do this also helps you craft a cohesive brand identity that’s both appropriate for your audience and engaging to viewers.

Basic Accounting

While it’s best to leave business financing to a professional, small business owners can manage their own expenses well with a little know-how. Learn about insurance requirements, tax rates, invoicing and expense reporting now so you can maximize your profit. Keep detailed records as much as you can, and don’t underestimate the importance of a budget. Even if you are making a good profit, you should be making calculations for growth projection as well. Without knowing how to scale your business, you’ll eventually stagnate.

Customer Service

You have to be the collective voice of your business on every front. You may decide to use “we” online and in all communication with customers even if you’re a company of one. In addition to having the right software, you should also incorporate features like an FAQ and auto-response feature onto your website. Being able to make customers feel supported and cared for will help you build a solid reputation that grows with your business.

Digital Marketing

You need to know where your audience hangs out online so you can market to them effectively. Research online and social media marketing concepts so that you know where to begin looking in the first place. Are they on TikTok, the Pinterest-loving crowd, or do they prefer to shop on Instagram? You may even be a little unconventional and wind up pulling in a larger audience through YouTube. Think about ways you can market your company without spending a fortune on paid advertising. While Google and Facebook Ads can be helpful, they can equally be a huge waste if they aren’t supported by strong content.

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