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Hi awesome hivers,
Any fundamental issue that can't be identified and treated may give a serious challenge in the course of a business.
I have discovered that most businesses today neglect some basic things before or during or after business. For effective and productive business, one must possess some skills.
what are basic skills?
Basic skills are capacity or area of specialisation which an investor leverage on for business expansion.
Basic skills entails competency possessed by an investor or client for a sustainable business.
I would like to highlight some of these basic skills.
- COMMUNICATION.
Over time, I heard how businesses crashed within a particular period of time because of their inability to maintain good communication. Communication in business entails feedback from the client or the investor.
There must be a good channel of communication either interpersonal or intraperitoneal. In order to manage this, an adequate skill must be acquired for good delivery. - KNOWLEDGE
Most organisations and entrepreneurs most at times don't believe in getting more knowledge rather preferred maintaining status quo. Knowledge is dynamic so also business. In the twenty first century there's a little shift in business. For instance the advent of Covid-19 some organisations couldn't continue in business because a body of knowledge was required to match with the current need. When you don't upgrade your knowledge, you may go on extinction. Therefore it's important that every investor or organisation sow into more knowledge by attending workshop or other trainings. Have the knowledge about your customers, the market and the business. - COST MANAGEMENT.
A good track record of income and expenses need to be kept. When you don't keep good records of all the transactions you may not be able to figure out the profit margin at the end of a business season.
Get books for different kind of records. This accounting skill is very important and you mustn't be an accountant but at least possess the record keeping skill. - PLANNING SKILL
You just have to be a good planner in order to enjoy your investment.Plan your risk management and everything about the business. Planning skills helps to develop good business stamina to breakthrough either the bullish or bearish trend.
thanks for stopping bye and all the comments appreciated.
Posted Using LeoFinance Beta
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