There are many skills a small business owner needs to master in order to run their business successfully. Here are five of the most important.
Communication. It all starts with clear messaging. Say what you mean, mean what you say. Effective communication for the SMB owner begins and ends with being a motivating force. It is imperative to maximize the performance of your entire team, and being upbeat and positive goes a long way to keeping morale up and everyone’s attention pointed in the right direction.
Listening. Once you master the ability to communicate clearly, it’s time to shut up and listen! Working in a small company means that every employee knows what’s going on and probably has an opinion on how to make things work better and run more smoothly. You have to admit to yourself that you don’t know everything – but your people probably do. So practice the art of being an effective listener. I think it’s the #1 skillset anyone in any position needs to become adept at.
Hiring the right people. So, you own a shiny new bus. Now you have to get the right butts on board – and then you need the right butts in the right seats. Hiring is so critical that you might want to get a consultant or other professional help if you don’t seem to be able to hold onto the right people.
Delegating. While you probably know every job in intimate detail, that doesn’t mean you should do them. You need to do your job and let others do theirs. You have to build trust within the team, and that trust extends to asking for help when it’s needed. By you or one of your team members.
Making smart decisions. The more time you spend in a leadership position, the easier it becomes to make those instant, ‘need an answer right now’ decisions. The effective business leader will review their decisions and decision making process and evaluate themselves. Admit when you’re wrong and move on. Without self-reflection, repetitive bad decisions puts everyone’s livelihood in jeopardy.