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Unit 36 Starting a Small Business - P3
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Unit 36 Starting a Small Business - P3
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Unit 36 – P3 Kojar AhmedIn order to successfully start up and run a business, I must first understand the skills and personal
development required to adequately manage a small business. When starting a business, it is
important that a managers and owner understands and recognises the skills they possess, being
unable to do this would make things difficult when it comes to identifying problems with the
business. One way in which a manager can understand the skills they possess is to produce a skills
audit, this will tell them the skills they possess, any weaknesses and how they can improve.
If a business owners lacks a certain skill that they cannot improve upon or just simply don’t have,
then they can consider hiring or employing somebody with those skills, such as accountants or
general business partners.
One major aspect of a business is its technical and operational needs, this usually comes into play
when a business decides to create its own website or it heavily implements technology in their
business, such as with my business, World Wide Cutz. Not all businesses will require the expertise of
someone familiar with technology, although it is helpful in making websites and maintaining tech, a
business owner may even decide to pay an independent company separate from their own to make a
website, this is done in an effort to save money instead of having to pay a wage to an employee.
If a business has more specialised equipment, such as a car manufacturer which has specialised
robotics to build car components, they will have to hire specialists who can maintain the equipment,
this is likely to be a large cost for the business and is one of the reasons many business depend on
actual workers rather than robotics.
One more common component of both big and small businesses is management. Most if not all
businesses will have some sort of hierarchy that consists of managers, these will be in charge of
ensuring employees are performing their job to the correct standard and that they are following
protocol etc. In order to be a successful manager, three specific key skills are required, these are:
Human Skills – Managers are required to be able to lead, communicate and influence
effectively everyone involved in the business including colleagues, customers, shareholders
and suppliers.
Technical Skills – Mangers are required to have the technical skills and knowledge to enable
the product to be developed and produced.
Conceptual Skills – Managers should have the ability to perceive and develop new concepts
as well as be able to solve problems and make decisions.
Some managers may also be required to be educated and have a certain degree of political skills, this
is to allow them to network and build relationships with potential suppliers and shareholders.
Personal selling is a skill most employees and managers require in order to do their job effectively as
it is a key part of common jobs such as retail. Personal selling skills are simple to an extent in that
they only require the employee or manager to treat their customers or shareholder well. This can be
done in the following ways:
To meet and greet customers
To identify the customer’s product needs
To put across the attributes of the product or service
Excellent product knowledge and to be able to communicate this effectively
Good listening skills
To counter objections to the sale from the customer
To effectively close the sale
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