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Have you ever had an idea brewing in your head and thought, “Hey, I could make some money off of this!”? 

Kenny Powers from Eastbound and Down gesturing. He says, 'Dollar, dollar, bills y'all.'

From opening a lemonade stand in the summer to founding a multinational corporation, starting a business isn't as easy as it might sound.

While there are several skills a person needs to be successful when starting a business, three key ones include communication, organization, and time management.

1. Communication

From speaking with clients to emailing employees, having great communication skills is essential to leading a business to success.

A yellow background with a green speech bubble. The green speech bubble has three yellow dots.Photo by Volodymyr Hryshchenko on Unsplash

What does having great business communication skills really mean, though?

Did you know?

Depending on their size, companies lose thousands to millions of dollars per year due to poor communication.

Active Listening

Imagine you need to close an important sale with a new client. The client is friendly, but they simply won't stop talking. You don't want to be disrespectful, but you do need to gather information. What do you need to do?

Listening to understand oractive listeningallows you to focus on what someone is truly saying instead of what you want to reply.

Joey Tribbiani holds his ear and says, 'You have got to listen,' to another person.

Try to take mental note of some of the client's key concerns so you can address them later. This will help the client feel understood and most likely like to a successful sale.

Written Communication

From emailing clients to messaging employees, communication is important to any business's success. But business communication is not as easy as it looks. For example, when can you use "Reply All"? When do you use formal language instead of informal language?

Drake meme. Top (wrong): 'Hit 'Reply All.'' Bottom (correct): 'Hit 'Reply' and only CC relevant people.'

While Drake suggests using the CC field instead of "Reply All" is better, the level of formality in your written communication should match your business brand.

Non-verbal Communication

What we don't say with words is sometimes said with the face or body. From a stern face and crossed arms to signal disapproval to an enthusiastic "thumbs up" to communicate agreement, body language matters.

Ursula from The Little Mermaid: 'Don't underestimate the importance of body language.'

Did you know?

Body language is different across the world! While Western cultures see a "thumbs up" as positive, Middle Eastern cultures consider it offensive.

2. Organization

Keeping physical and digital documents like employee files, taxes, and customer account information organized is a must for any new business owner. How does one organize all of the things? Say no more!

Physical Documents

Digital Documents

Tax documents in an open folder. A pen and cup of coffee are next to the documents.Photo by Kelly Sikkema on Unsplash

Regardless of whether a document is physical or digital, following a consistent naming system is crucial. For example, use a customer's last name and first name initial followed by their company name and document title: "DoeJ-CompanyA-Budget."

3. Time Management

Starting and maintaining a business will sometimes require working odd or overtime hours. That said, good time management skills will help you find balance between your personal life and work as a new business owner.

A stick figure trying to balance on a seesaw. The seesaw is labeled with 'Life' on the left and 'Work' on the right.

Follow these three tips to help you manage your time:

  1. Use productivity applications like Notion.

  2. Delegate tasks to employees or hire independent contractors.

  3. Block out time for breaks.

Quiz

A new small business owner is struggling to manage meetings with over 30 clients. They have no staff and work over 40 hours per week. How can they better manage their time?

Take Action

The world of business can sure feel like being in a tank full of sharks, but now that you know the top three skills needed to start a business, are you ready for a swim?

Mark Cuban from Shark Tank adjusting his suit jacket. He says, 'Let's do this!'

Remember, communication, organization, and time management are not just important business skills. You can take these skills anywhere and find success!

License:

This Byte has been authored by

JB

Jessica Bustamante Moreno

Freelance Learning Experience Designer

MS

English

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