Skills and training for directors and owners

New skills required by growing businesses

As your business grows, the skills your business needs to access will grow too.

Your finance arrangements are likely to become more complex. For example, finding and managing outside investment may become an issue.

Your marketing may need to be more sophisticated. For example, understanding the intricacies of media planning and buying may become necessary.

As the number of people your business employs increases, specialist human resource management skills will become important.

New equipment and new processes in your business will bring with them new demands, as will the need for specialist IT know-how as your IT system becomes more complicated.

Changes in the law, for example employment law or health and safety regulations, may require new skills for tasks.

As the owner or director of a successful growing business it is essential that you recognise when new skills are needed and you take the right steps to meet them. You are unlikely to be able to find the time or have the ability to meet most of them yourself. Consider:

• building a management team
• delegating
• recruiting
• outsourcing

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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