Skills and training for directors and owners

The core skills all businesses require

As a business director or owner it's essential you can identify and meet the core skills your business needs to function.

These skills will be the same whatever business you run - whether you're a sole-trading graphic designer or you head a manufacturing company employing dozens of people. The only difference is that the smaller your business, the more of these skills will have to be met by you:

• Finance - including cashflow planning, credit-management and managing relationships with your bank and accountant.
• Marketing - including advertising, promotion and PR.
• Sales - including pricing, buying, negotiating, customer service and tracking competitors.
• Administration - including bookkeeping, billing, accounts preparation and payroll handling.
• Personnel - including recruitment, dispute resolution, motivating staff and managing training.
• Personal business skills - including computer, written and oral communication, and organisational skills.

In addition to these, there are other intangible skills you will need, such as leadership skills, the ability to cope with long hours and hard work, and the inner resources to deal with stress and risk-taking.

To run a successful business it's essential you recognise the limits of your abilities. So, as a business owner or director you also need the skill to know when it is best to hand over tasks to others by either:

• delegating
• recruiting
• outsourcing

Your local Business Link will be able to advise you on management and leadership training available in your local area.

Subjects covered in this guide

• Introduction
• The core skills all businesses require
• New skills required by growing businesses
• Key skills for owners: strategy
• Key skills for owners: delegation
• Key skills for owners: building a management team
• Key skills for owners: managing your team
• Skills and training for company directors
• Sources of leadership training
• Here's how management training improved our business

 

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