6 Skills For Successful Startup Founders will help maximize your startup chances of success, and frankly, will also be required for all small, medium and large businesses to thrive.
Table Of Contents
1) Technical / Core Skill(s)
- technical skill is the core of the deliverables that your start up want to provide and generate revenue from, be it baking, physical therapy, coding, platforms, massage etc
- to learn go to school or apprentice
2) Hard Product & Systems Processes building, maintaining and refining
- this is about the business itself per se, knowing what and how to build the business system
- online can be a platforms like Amazon, search engines like Google etc
- offline can be physical therapy clinics, bakeries, cafes, massage places
- about knowing what to build
- continually upgrade the system
- build and do part time
- visual, taste & user experience
- visual is how it looks
- taste is the quality and how it communicates
- user experience is how well or easy it is for your clients to use or purchase your stuff
4) Sales and Marketing
- underrated and sometimes looked down upon skill BUT highly highly invaluable core skill, but need to bear ethical and value-add perspective
- be able to get the attention of people
- communicate, convey and convert them
- metrics to know if your business is actually working…growing…or dying
- you need to know how to read profit and loss statements, balance sheet statements
- helps you make decisions to build or grow
6) Leadership & Management
- most important because the higher your leadership ability, the more you’d be able to attract and retain high quality team mates
- how to lead and get people to do things
- leading from empathy is more important
- build trust so that they need to be able to have crucial conversations in a very constructive yet impactful
- learn: take on projects that require coordination with multiple people and with numbers involved eg can we do X to improve Y revenue?
Most of the time, you can likely do well in just 1-3 at most (2 is more normal), and generally know the rest which needs to be supported by hiring or recruiting other team members
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.
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