5 Extra Skills Every Small Business Owner Should Have

There are several skills that you need to have in order to be a successful business owner. Good time management, leadership, and problem-solving are some of the basic skills that will make you a better small business and startup founder.

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Aside from these basic skills, there are also abilities that help you perform better as a small business owner. Some extra skills are worth mastering simply because they support your life as a business owner. We are going to review the top five extra skills to have as a small business owner in this article.

Public Speaking

Public speaking – and communication skills in general – is a crucial skill to have, especially in today’s world. As a founder or business owner, having the ability to communicate your ideas well is a huge plus that will further support your success.

If you are not confident about your ability to communicate, consider taking an executive communication training course to sharpen your skill. You will find communicating with the press, fellow founders, employees, and other stakeholders easier after some training.

Risk Management

Your ability to think critically is what makes you a great business owner. By being able to review every situation from an objective standpoint, you can count on your critical thinking skills and come up with the right decisions most of the time.

That said, you still need to be able to manage the risks you will face along the way. Risk management is something that can be mastered either through formal education, a comprehensive course, or through trial and error (experience) in the field.

Social Media

Another important skill to have as a business owner is social media savviness. Knowing how to use social media to your advantage – and for the benefit of your business – is a huge plus, mainly because you can reach thousands of potential customers by doing social media correctly.

At the very least, you need to know how to build a stronger online presence. Both the business and you as the business owner need to be approachable online. Only then will you be able to connect with the audience on a more personal, genuine level.

Empathy

Empathy is one of those abilities that people seldom consider important, but it is a very valuable skill to have when you are a business owner. Empathy allows you to understand the people around you better, which in turn will make you an incredible leader and business owner.

Understanding the market, specific customer segments, the people you work with, and even investors and shareholders are definitely easier when you have empathy. Yes, it is a skill that can be mastered and sharpened too.

Balance

Last but not least, you need to know how to balance your life. Business owners who are skilled in keeping everything in their lives proportional and balanced are the business owners who are leading the market today.

Things like the ability to prioritize tasks, knowing when to step away from work and have fun, and finding joy in everything you do is how you maintain that balance; these too are skills that can be mastered with time.

So, how many of these skills have you mastered? Work towards sharpening these extra skills and you will be a much better business owner before you realize it.

Adam Torkildson