3 Essential Skills That Every Business Owner Must Have

leadershipTo build a successful and sustainable enterprise, there are essential skills that every business owner must have. One of the biggest frustrations owners of manufacturing, trades and technology businesses have is dealing with staff issues. At first, they were a “one man show”, the “chief cook and bottle washer”. It was hard work but the business seemed simple.

As a business grows there is a need to add a first, 2nd and 3rd employee. Life is now getting complex. Employees don’t seem to share the same level of passion as we do, they have lives to balance and they sometimes let us down. As the frustration builds the owner faces the temptation to scale down and go back to the simple life.

Business owners that are able to break through the threshold from being an owner-centered business to a true enterprise recognize an important fact. That is, the skills and specialization they started out with becomes less relevant as their business grows. There is a whole new set of skills to develop to have an effective enterprise.

The 3 Essential Skills That Every Business Owner Must Have

1. Ability to Attract Quality People

Many business owners often hire people in haste. Business is hectic and they need a body. This often results in unnecessary turnover and stress. Create a profile of your perfect employee. What are their skills, attitude and values? Be sure to write a proper job description.

Take time to write a good job ad. Remember the phrase: “You get what you ask for.” Write the Ad so it reaches out to the exact type of person you want to attract.

2. Ability to Train

Many business owners take their specialized skills for granted. They just can’t understand why their employees are not as good as they are. The key is to break down what you know into steps and a repeatable process that you can teach. Create a system and have your team follow it. The result will be much less “fires” to deal with if they follow your system.

3. Ability To Motivate

It is great to have talented people who know what they are doing. But an uninspired employee is no better than an unqualified employee. How often have we seen a talented sports team underachieve and almost instantly turn around their fortunes when a coaching change is made. Inspiring the players to achieve is often the single ingredient that turns things around.

In summary, the essential skills that every business owner must have fall under “people skills” or “leadership” categories. The business owner that develops these skills through training and development earns a much higher chance of building a successful and sustainable enterprise.

If you want to further develop your Leadership skills I would be happy to share my list of 100 Leadership Strategies with you. Just call me at 604.374.5934 or email tony@empoweredbusiness.ca and I will be happy to send it to you.

Tony Malyk

Tony Malyk is a Certified Professional Business Coach and Business Value Accelerator specializing in improving profitability and increasing business value in the manufacturing, distribution, trades and technology sectors.