You are the most important thing in your business, so you must know what you are good at doing. It’s also important to look at how you can get better at the things you don’t do so well.
This section is especially useful to you when you are planning your new business. It will also be helpful when your business is running and you will need to make sure that your skills keep pace with your business as it grows.
The main topics
When you look at your own skills and abilities, you will need to:
- decide what skills are needed for the business;
- look at your own skills;
- plan how you will develop your own skills; and
- check your own performance.
You will find that your skills improve as you develop your business plan and you start running your business. Usually, you will find that you are better at some things than others, and that you enjoy doing some things more than others. If you are doing everything yourself, it is important that you make sure that even the things you don’t like doing are done properly. If you don’t, you may be making problems for later.
What you can do
When you have checked your own skill and ability for running the business, you can:
- decide what skills the business needs and what skills you have;
- develop a clear understanding of your own strengths and weaknesses, and
- look at the ways in which these are likely to affect the business;
- decide how you will develop your skills to meet the needs of the business; and
- decide how you will judge your own performance.
You might decide that you need to employ staff to get the right skills in your business. If so, you will find that the activities in this section overlap with those in Unit 10 (Employing people in the first years of trading).
What you need to know
To do this properly, you need to know and understand the following points.
- How the business will operate, and what tasks and processes you have to complete to provide the service or product to your customers.
- How you will manage the business.
- What needs to be in place to make sure the business runs well – this will include things like keeping paperwork in order, and making sure that everything is of the right quality.
- What you want personally from the business.
- What your own skills are, and how to check them.
- Any training and development that you need, and how to plan for it.
- What the goals of the business are.
- How to cope with change.
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