Develop Your Business Skills and Build Your Championship Team
Understanding business skills will help set you up for success.
Because while passion and product knowledge are key, they aren’t everything. If you want to turn your passion into profit, you’ll have to go a bit deeper.
What Business Skills Are You Bringing to the Table?
I talk about passion a lot. Passion gives you purpose; it’s what will keep you bright and motivated through the tough times all businesses have to face.
But passion isn’t all you need.
Being dispassionate every now and again is essential
A huge part of the “WHY YOU?” question is about looking honestly at the specific skills you are taking into your business. Once you understand your current business skills, you will have a much better view of the skills you need to develop further yourself and those that you will need to buy in from other people – your Championship Team.
No one person can possibly know everything there is to know about running a business. I can think of a whole host of different skills, just off the top of my head: research, finance, product knowledge, product and service development, customer service, technology, sales, marketing…the list is endless!
Micro and side hustle business owners can be especially guilty of trying to do everything themselves. However, it’s important to remember that being responsible for everything doesn’t mean you have to do everything!
The world’s top entrepreneurs are successful partly because of their self-knowledge. They know when they need to develop themselves, and they don’t hesitate to outsource skills they know are best left to other experts.
Do, Develop or Delegate?
Now it’s time to be very honest with yourself. Answer these four questions:
- What do you enjoy doing in your business?
- What do you often ignore or try your best to avoid doing – and why?
- What skills would you most like to learn, and why?
- What skills that are essential are you ‘missing’ in your business, that you don’t want to do or learn to do?
Bear in mind that running a business is demanding enough, without having to spend most of your time on tasks you just don’t enjoy or don’t really know how to do (on this point I’m just going to throw two words in here – social media!)
Think carefully about this. Just because you’re good at something, or you’ve always done it before, doesn’t mean you have to keep on doing it – particularly if there are other tasks you can’t wait to get your teeth into.
This is especially relevant when you consider the skills you developed in a previous career. If you’re a qualified accountant, for example, you might feel that you have to take care of all your business finances yourself. But if the idea of that leaves you cold, why not outsource the task to someone who actually enjoys it?
A little while back, I ran a training session on how to build a Facebook page. One of the attendees came up to me afterwards, to tell me she’d found the session very interesting.
The only problem was that she hated Facebook, didn’t use it, and didn’t see the point of it!
Because of this, I explained that she was probably the worst person to be using Facebook for her business. I recommended she paid someone else to do it for her, instead.
Building Your Championship Team
Developing your skills and outsourcing others may sound like an expensive option. Cost is one of the main reasons why people often prefer to attempt everything themselves, at least in the beginning.
While you don’t have to spend a fortune, you do need to invest in up-skilling your business. Try to see it as exactly that – an investment, rather than a cost.
You can budget sensibly for outsourcing skills by analysing your business costs, and how much money you need to make, then making a list of the skills your business needs the most. Begin with those.
In exchange, you’ll equip yourself with vital knowledge, and you’ll build your own championship team of people who can be relied upon to help grow your business.
That’s not a bad return on your investment, is it?
Networking and social media are fantastic ways to start finding your own ‘people who can’. Don’t be afraid to ask for recommendations.
Do try to be wary of roping in friends or family members to help out – if you don’t like their work, it will be much harder for you to say so.
In essence, WHY YOU is all about taking a dispassionate step back from your business so that you can develop your passion…and turn it into profit!