11 Essential Skills You Need to Start a
Small Business
Many professionals ambitiously begin their businesses based on their lustrous
career of diverse experience. However, it is observed that only a select few actually
manage to survive, sustain and grow their business successfully.
What could be the key factors of their success when they are doing business in the
same market conditions? There could definitely be some specific reasons why they
are sustaining and succeeding.
Let's explore the underlying reasons that possibly contribute to small business
growth.
● Clear Vision
Every entrepreneur should have a clear vision about the business is going to be
done. What would be the objective of the business? To identify the goal behind doing
the business. There should be a solid passion behind the business idea. Some do
business to offer a solution to the needs while others offer to resolve the existing
situation through their business services.

● Proper Business Planning
Once the vision is clear, the business structure needs to be written down on the
paper. Including all the basic functional aspects to most mandatory documentation,
all are very necessary. It should include the steps of business management with all
the methods and systems that are essential to be applied.
● Adhering to the Government procedures
Taking all the mandatory licenses, permissions and legal formalities is the first and
foremost step in starting of the new business. Registering the business with the
registrar of companies, government institutions and business associations, is
essential. With all the compliances set in place, an entrepreneur can freely apply for
a loan and other required facilities.
● Setting up of Work System
Select a proper work location for the business where the business can be operated
easily. Preferably nearness to the market with decent connectivity from all sides
essential. Get the interiors planned and executed with good ergonomics for effective
space, light and ventilation arrangements. Furniture to include smart storage with
seating arrangements for proper functioning of the business activities.
IT infrastructure set up with the server system and the necessary software system
for the business to be executed. Proper arrangement according to the business
layout to be made for smooth and effective working of the workplace.
Designing and development of a business website is the most essential for creating
and maintaining a credible business identity.

● Staff Selection and Human Resources
Planning of human resources is very important business function as it facilitates
effective working of the business. Recruitment of proper qualified and suitably
trained people who adorn corporate skills for the respective departments will be
necessary. Moreover, a thorough process layout of the internal hierarchy with
comprehensive business communication to be decided. The team should be well
versed with the basic business communication skills and understanding the work
process.
● Developing Effective Marketing Strategies
Communication is the most important aspect of every business. Successful
businesses are those who adopt extensive activities in regular communication with
prospects through numerous means. Mass media advertising in Newspapers,
magazines, hoardings help to reach a larger audience in individual effort. In the new
age of digital technologies, digital marketing is the important key factor for spreading
awareness, encouraging customer engagement and generating sales effectively.
Social media tools of Facebook, Instagram, Twitter, YouTube and Linkedin need to
be smartly used to attract the traffic towards our website. Search engine optimization
of the website helps in effective customer development through improved google
business ranking. Customizing the right messages with positive content effectively
applying the business communication skills, takes the company ahead of the
competition.
● Organizing Proper Accounting Process
All the operations need to be integrated with the computer network and mandatory
software systems. Having a proper accounts department with the qualified staff
required with complete knowhow of the business accounting, finance management,
taxation, salaries, vendor management and audits. Budgeting is the collateral
function that would be carried out with the purchase department.

● Monitoring the Daily Work
An entrepreneur should always be alert in his business operations. With the full
awareness of the work process, he should be involved in all he functions to ensure
his control in the process. There are challenging situations which may arise from
unforeseen circumstances or unpredictable external factors. Always be ready to
customize the solutions for smooth functioning of the functions.
● Purchase Process and Vendor Management
Arrangement of proper raw material and ensuring the regular flow at feasible rates is
necessary to maintain the cost balance. The purchase function plays an important
role in controlling the input costs, ensuring the right quality and getting the service on
time of the need. It also helps in maintaining good relations with the vendors and
supplier segment.
● CRM Or Customer Relationship Management
Businesses succeed those who can understand the nerve of the customer. This is
the precise reason why CRM or Customer Relationship Management has become so
important function in developing, retaining and growing the business. It actually
complements to the business development skills to the sales department. This
function ensures regular communication with the prospects to understand their
requirements and customize the product offering that meets their expectations.
Satisfied customers are great reliable sources of new business that gets generated
through their valuable referrals.
Moreover, CRM also helps in providing the actual product performance from the
customer feedback. Companies that value customer feedbacks seriously and
implement the improvements in the quality, service and user experience accordingly.
It has been an effective tool in contributing to the small business growth by building a
better control over the function of customer relations.

● Dynamic Sales Management
Every business offers products or services or both in its business model. It becomes
essential for the entrepreneur to generate the requirements for the product offerings
from the market which also can be called as sale. Generating sales is always
necessary to bring in the revenue for running the business. Marketing and
promotional activities need to be conducted to spread the awareness of the business
in the market and generate requirements from the potential customers.
Team of Smart professionals needs to be organized for the marketing and sales
functions effectively. With proper communication tools, visual aids, promotional
support; the sales team effectively communicates the product offerings to the
prospects to generate sales effectively. The sales team members are trained in
business development skills on presentation, estimation, negotiation skills and
customer experience management.