Wednesday 16 February 2011

Business Fundamentals


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The vast majority of businesses begin small. Most begin with one individual using a particular technical skill, be it plumbing, printing, legal, web design, or any one of a host of other talents. Sometimes the enterprise is helped by the offer of work from a former employer, but when that dries up the business must compete in the marketplace with everyone else.

It is at this point that the single-skill approach suffers. Being a great plumber is only part of making a living in a plumbing business. Some of the other skills needed include marketing, sales, finance and self-motivation. Without those skills being appropriately exercised customers will not come and the technical skill, whatever it is, is destined to waste away from lack of use.

Now, being a great plumber, printer, solicitor or whatever is no guarantee that you will be equally talented where marketing, sales, finance and self-motivation are concerned. Some dabbling may yield partial results, but those will necessarily be limited and the enterprise will quickly hit a ceiling. Indeed, it is almost guaranteed that all or most of this skill set will not be available to you, because you have not had the opportunity to acquire and practice the necessary techniques.

However, all is not lost. Having a particular technical skill proves you have the ability to learn and master certain methods and systems in one area that can be mapped across into other functions. We all have multiple abilities that seemed tough to learn at the outset, but we now take for granted, like walking, talking, swimming and driving in most cases.

If you have the nerve and the self-belief to set out in business for yourself the need to learn more about how that is done successfully will come as no surprise. These are not natural, instinctive skills, but they can be learned by trial and error. Yet few of us have the time or the money to make all the mistakes required for such a long and wasteful study.

Despite that fact, judging by the number of businesses that are struggling at any one time, many still take that route even though it is demonstrably easier and cheaper to learn from those who already have the proven skills and are willing to share them.

More savvy members of the business community make use of workshops and seminars, like those provided by H&H Business, to add the missing ingredients of success. They are a shortcut to early success and save an awful lot of time.