Skills to run a business

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As my business is a convenient store so I need management skills some of these are contacting suppliers, providing customer services and looking for the best investments in the business to make sure I survive in the competition war. Skills needed to run my business: The main skills required to convenient store are to be able to see what could be a potential benefit towards the business. To find these you need to be good with communicating wither its talking to a angry customer or if your ordering stock by supply on demand. Another skill needed is IT as you need to update flyers and promotional offers by computer; these must be done professionally unless they are made by hand for in-store proposes.

Some other skills required: Maths: to run any business you must have maths skills you need these from working out when you will have you break-even point to working out your revenue. Multitasking: NEED TO EDIT FROM ERE As I am running a corner shop I need to have knowledge of products in my store. This knowledge is important because many customers might be buying certain product first time. This could be ingredients, company of product or if the product is suitable for vegetarian. Creativity: Creativity is skill which can be used to attract customers by decorating the shop in a way which people will like. This also includes organising products in sections so it’s easy for customers to find things they want.

Stock taking: Stock taking is to know what product I will want for my shop. This stock taken after observing expiry date and amount of products would be taken. Stock taking might also need some market research to find out what will people buy most. Setting budget: While setting budget I should know that it will make profit not loss. I should also consider what budget people would think its good value for money. Skill needed to run a sole trader business The main skill needed for all the sole trader businesses are to be self esteem and self confidence. This means that a person running a business should be able to start a business by him self as no one else will help be there and also to be confidence in what you do and think. In sole trader business a person should know how to manage there day to day business including:

Finance: when running a business person should know where to invest profit and what to do during debt. This also includes limited liability. This means that what a business is going to do when it goes in debt and you can’t pay the loan. Manage customer service: To manage customer service a person needs to be strict in terms of time. This also needs hard work and give customer better service then they expect. Creativity: To run a business the surrounding of business should be kept clean and hygienic and should be clear of any other health and safety issues in the store. This also includes that the store should be attractive to attract customer.

To be competitive: A business also needs to market research in to observe the other competitors. This will help to be competitive in terms of price, quality of product and services and even the ways of advertising. Skills I have and Skills I needed There are many skills needed to run a corner shop. I have some of the skills which are: I have knowledge of using computer. I will prove this by designing a leaflet for my shop. I have social skills. I can speak in non-violate language and behaviour.

I can communicate in three two other languages which is Hindi and Guajarati. I also have skills to be creative so I can design my store to be attractive. There other skills I need to learn are as follows: I need to learn how to speak in proper ascent and fluently in English. I need to have more knowledge of products I am going to sell so that I can answer if any of my customers ask. To improve these skills I have decided to take classes so that I can learn to speak English fluently and to get knowledge of products I have decided to get information of internet.

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