Skillset required to start a business

[ctrlbrk]

What do you think are the must-have skills* for anyone considering starting a business?

Is there a minimum set of skills (must-have), and is there an ideal one?


Interested to get a wide range of views, given opinions will vary.



*My question applies to both hard and soft skills.

 

[fisicx]

Surely it depends on the business. I had zero skills, I made most of it up as I went along. Probably not the best way to do things but it worked for me.

One skill you do need is the ability to say no.

 

[ctrlbrk]

Surely it depends on the business

Thanks but - if I understand your quote correctly, revert if not - I am not talking about, for example, being able to cook if you want to open a restaurant.

I am talking about certain skills that may be common to many/all businesses.


For example, a total lack of business acumen would certainly not help.

 

[Lucan Unlordly]

Some of the most successful small business owners I know are thick, fearless and ride their luck but have the key requirement of being able to listen to everyone and work it out for themselves.

Industry/product knowledge above and beyond the norm.

Willingness to work smart and hard when required.

 

[WaveJumper]

I’ll start the list:

Positive attitude
Self-belief - a willingness to succeed
Passion & Drive
A good work ethic
Be prepared to work long hours to achieve your goals
Keep an open mind
Learn from others
Stay Focussed

 

[WaveJumper]

I think work hard and work smart mentioned above is very true. You can run around like a headless chicken being chased by 15 of your clients but when you sit down and analyse what they bring to your bank account it might not be worth as much as you thought, and worse still they are causing you to lose focus on those other clients who do bring substantially more to the table.

In short you should be evaluating your business almost daily …. Yep Work Smart

 

[fisicx]

Thanks but - if I understand your quote correctly, revert if not - I am not talking about, for example, being able to cook if you want to open a restaurant.

Why do you need to be able to cook to open a restaurant? You pay the chef to do this.

Still not sure there is a set of core skills applicable to all. I don’t have any of the things in the list from @WaveJumper

 

[ctrlbrk]

Still not sure there is a set of core skills applicable to all. I don’t have any of the things in the list from @WaveJumper

That's why I am inviting a varied range of opinions - not everyone thinks alike.

 

[japancool]

No skills are required to start a business.

Now, to run one, or even better, run one and make it successful, that's different.

 

[fisicx]

Are they skills or is it knowledge and understanding?

I don’t know how to file my accounts but I know a man who can.

Skills and knowledge are things you gain as the business develops.

 

[Fagin2021]

A degree in Psychology.

 

[ctrlbrk]

A degree in Psychology.

You can tell when some online replies are facetious - with this one I can't tell whether you're serious or what you mean by that.

 

[ctrlbrk]

No skills are required to start a business.

Now, to run one, or even better, run one and make it successful, that's different.

Thanks for this profound insight.

Care to share your ideal recipe for running a successful business?

 

[japancool]

Care to share your ideal recipe for running a successful business?

For $1000, then you too can run a successful business.

 

[Fagin2021]

You can tell when some online replies are facetious - with this one I can't tell whether you're serious or what you mean by that.

Semi-serious. I mean the ability to get into the minds of customers, suppliers, employees etc and think what they are thinking. To understand what makes groups and individuals tick in particular circumstances. It's sometimes called 'empathy' but I don't like that word. It implies sympathy and understanding which is not necessarily the case.

In fact, we've all spent lifetimes developing this skill but typically, we don't use it.

For anyone interested I recommend watching a 5 part TV series by David Eagleman called ''The Brain'.

 

[Stas Lawicki]

It depends on what outcome you're looking for and what the business is. As above, I know plenty of completely clueless individuals, who have no formal training, no financial backing, no qualifications, no management skill or idea yet make very good money, blissfully unaware of how close they are to litigation or hurting somebody.

I have to say that luck does play a large part in it. How this luck manifests itself has a bearing but it seems just being in business is sometimes enough to get going. The problem comes when without training, plans, direction or some competence, growing the business is sometimes extremely difficult or impossible.

 

[ctrlbrk]

Thanks @Stas Lawicki - I agree:

• luck does play a part, but luck alone won't sustain a business in the long term
  
• you don't necessarily need formal training to be successful, innate talent can be part of the equation

The unaware of how close they are to litigation bit though suggests that business will be unsustainable in the long run, doesn't it?

 

[WaveJumper]

Interesting when you look around the internet there are sorts of lists covering everything from entrepreneurs to successfully businesspeople, large companies to small. Here’s Google’s six for small business owners:

Confident. Confidence comes from knowing yourself and your abilities. ...
Persistent. Running abusinessdoesn't always go as planned. ...
Goal-Oriented. ...
Budget Conscious. ...
Personable. ...
Passionate.

I then started looking for one word that would describe the successful business leaders / entrepreneurs and came across the following

“What entrepreneurs need most of all—above motivation, focus, hope, financing, marketing skill, a brilliant idea, etc.—is desire”.

“Unless you truly want to make something happen, the odds are nothing will. Without that desire, nothing else matters…or occurs. Your life will be filled in other ways”.

Or maybe you just need to be in the right place at the right time

 

[ctrlbrk]

@WaveJumper that's why I posted the thread - people will come up with all sorts of opinions.

For example, I would replace desire with grit.

 

[WaveJumper]

@WaveJumper that's why I posted the thread - people will come up with all sorts of opinions.

For example, I would replace desire with grit.

My son just informed me on the subject ...... dad you just gotta be ON-IT

Oh the younger generation but he does have two companies so I bow to his superior knowledge

 

[fisicx]

Desire isn’t a skill. Nor is grit.

I thought the thread was about must have skills.

 

[WaveJumper]

Desire isn’t a skill. Nor is grit.

I thought the thread was about must have skills.

Over the years what is the number one skill you picked up or developed which helped to make your business a success

 

[Stas Lawicki]

Thanks @Stas Lawicki - I agree:

• luck does play a part, but luck alone won't sustain a business in the long term
  
• you don't necessarily need formal training to be successful, innate talent can be part of the equation

The unaware of how close they are to litigation bit though suggests that business will be unsustainable in the long run, doesn't it?

Not necessarily. People get away with all sorts and always will. Still plenty of clueless people who will always do well whatever happens.

 

[fisicx]

Over the years what is the number one skill you picked up or developed which helped to make your business a success

How to make something useable and accessible.

 

[Scalloway]

Why do you need to be able to cook to open a restaurant? You pay the chef to do this.

You need the skill to hire the best chef.

 

[fisicx]

You need the skill to hire the best chef.

Or know someone who can do this for you

 

[WaveJumper]

Or know someone who can do this for you

And there’s defiantly a skill in interviewing & employing the right person

 

[ctrlbrk]

Desire isn’t a skill. Nor is grit.

I thought the thread was about must have skills.

What do you define as "skill"?

Is communication a skill?

Is leadership a skill?

 

[fisicx]

Is communication a skill?
Is leadership a skill?

They can be - but neither are 'must-haves' to start a business.

 

[fisicx]

And there’s defiantly a skill in interviewing & employing the right person

Agreed. But it's not a must have to start a business.

 

[ctrlbrk]

I had zero skills, I made most of it up as I went along. Probably not the best way to do things but it worked for me.

From a different angle: of the skills that you built along the way which are the ones you wish you had from the beginning?

 

[fisicx]

From a different angle: of the skills that you built along the way which are the ones you wish you had from the beginning?

Not really. I didn't need them at the beginning, it was only as the business came together that I needed to learn new things. For example, after two years I decided to form a limited company. I went online and did it all in a couple of hours. No skills required - I just followed the instructions on the screen.

Running a business is often more about acquiring knowledge rather than learning a skill. I know how to install and configure WordPress, it's not really a skill, it's just remembering the sequence of events.

A skill for me would be learning how to cook properly rather than just following a recipe.

 

[Alan]

TLDR:
Skill of asking the right questions
Skill of problem solving

.............

I disagree.

Learning how to follow a recipe is a skill. Trust me there are plenty that cannot.

Dictionary says something like skill = a learned power of doing something competently

Is using Google effectively a skill? I think so. Any one can use Google, but can they ask the questions in such a ways they get the right answers and are they able to quickly filter out the dross.

So I would say a useful skill in starting a business is the ability to ask the right questions of the right people ( or search engine ) so you can bootstrap your knowledge.

@fisicx you didn't know how to set up your limited company online by osmosis did you, you either asked someone like your accountant, or on here, or read a book or article, or put a question into a search engine and read something.

Another skill is problem solving. This is something that you learn and improve on, there is a process to problem solving and again many have no idea how to do it. I do it so much I forget it is a learned skill and just think it is a natural ability.

I'm often asked to fix complex technical things by friends, family, colleagues and often people say things like 'I really must learn more about technology' and my answer is 'Do you really think I know everything about technology, I knew nothing about your problem, but I know how to solve problems, what you need to do is learn how to problem solve'.

 

[Mark T Jones]

For my 50p

- Crystal clear vision on who your customer is and what they want
- the ability to recruit, outsource and delegate effectively
- great communication skills

 

[WaveJumper]

TLDR:
Skill of asking the right questions
Skill of problem solving

.............

I disagree.

Learning how to follow a recipe is a skill. Trust me there are plenty that cannot.

Dictionary says something like skill = a learned power of doing something competently

Is using Google effectively a skill? I think so. Any one can use Google, but can they ask the questions in such a ways they get the right answers and are they able to quickly filter out the dross.

So I would say a useful skill in starting a business is the ability to ask the right questions of the right people ( or search engine ) so you can bootstrap your knowledge.

@fisicx you didn't know how to set up your limited company online by osmosis did you, you either asked someone like your accountant, or on here, or read a book or article, or put a question into a search engine and read something.

Another skill is problem solving. This is something that you learn and improve on, there is a process to problem solving and again many have no idea how to do it. I do it so much I forget it is a learned skill and just think it is a natural ability.

I'm often asked to fix complex technical things by friends, family, colleagues and often people say things like 'I really must learn more about technology' and my answer is 'Do you really think I know everything about technology, I knew nothing about your problem, but I know how to solve problems, what you need to do is learn how to problem solve'.

A good post. It’s the can-do attitude that probably separates those who are successful and those who are not. This thread is clearly showing there are a hundred and one skills required to start /run or own a successful business and being able to take on the challenges finding the right information at the right time to make it work is a skill set in itself.

Its amazing how many just want to leave it to others and quite happy to be led.

 

[Deleted member 59730]

I cannot believe some of the answers on here. How pedestrian.

How about: To make a profit doing what you enjoy in the least number of hours a week.

(For many on here the answer seems to be: Ask a number of ignorant question and not listen to the answers. 2 or 3 years later ask questions about the Sponge Bob Plan.)

 

[ctrlbrk]

I cannot believe some of the answers on here. How pedestrian.

How about: To make a profit doing what you enjoy in the least number of hours a week.

(For many on here the answer seems to be: Ask a number of ignorant question and not listen to the answers. 2 or 3 years later ask questions about the Sponge Bob Plan.)

Another post where I can't tell whether the poster is being serious.

 

[Chris Ashdown]

Common sense and the ability to quickly learn a wide range of skills

 

[WaveJumper]

I sometimes think there's not a lot of common sense out there, seems in short supply a lot lately.

 

[Deleted member 59730]

Another post where I can't tell whether the poster is being serious.

You have a lot to learn.