Entrepreneurs Need to Stay on Top of Their Game to Succeed
Business owners need to keep their skills up to date so they can stay ahead of the curve and attract customers in an ever competitive marketplace.
James L Katzaman
Education and skill are signs of who is the best in business
Business owners need to keep their skills up to date so they can stay ahead of the curve and attract customers in an ever competitive marketplace.
That applies to every industry ranging from auto glass to photography. On her own, Beth Staub knows more than a little about both.
She has operated Adventure Auto Glass, an automotive glass installation and windshield repair facility, for more than 15 years. Staub is also a professional photographer and owns Adventure Photo.
Together with marketers Ivana Taylor and Iva Ignjatovic, Staub talked about new skills all three of them plan to learn in the coming months.
Taylor owns DIYMarketers, a company “committed to helping small business owners get out of overwhelm.” Ignjatovic is a marketing, strategy, leadership and business consultant.
Upskilling begins with where an entrepreneur chooses to invest money.
“That depends on your goals and aspirations,” Staub said. “I personally enjoy real estate and myself.”
Most often, investment options are either technology or social skills. Not surprisingly, Staub’s first choice would be new camera gear.
“My social skills are OK, but I could always stand to improve and speed up my tech learning,” Taylor said.
“I’m too much of a control freak,” she said. “Tech folks are never available when I need something. So, I like to know how to do things myself.”
That has given her invaluable experience.
“I’ve found that I have to have a lot of tech knowledge to give direction,” Taylor said. “I don’t feel comfortable just handing stuff over. I’ve been burned before.”
Manage Problems and Time
According to accounting software company FreshBooks, the top skills needed for entrepreneurship are communication, problem solving and time management.
“I’m decent with tech, but I can always stand to improve my social skills — especially in-person small talk,” Ignjatovic said. “I just can’t stand that.”
One of small-business owners’ greatest concerns is to help build a better workforce.
“I’m a pit bull about customer service and outrageous customer service,” Staub said. “It’s a problem.”
Another must is to build a database.
“The first step small-business owners should take is to document their procedures,” Taylor said. “Then they can easily add freelancers and train them.
“It makes such a difference when owners are fully engaged — on the court or on the floor of the office, really participating,” she said.
That insight helps owners relate to tasks that their workers face every day.
“I do everything and try to optimize it as much as I can before I ask someone to do it,” Taylor said.
Keep in mind that tech disruption could lead to a scary and stressful new world. The future of work might entail knowing very different kinds of skills.
“Owners should assess their needs and priorities,” Ignjatovic said. “What skills or traits are they looking for in new employees?”
Ideally, small-business owners should be looking out three years in advance.
“I love how I spend my time,” Taylor said. “Three years from now, I’d love to be working with more brands and creating more helpful marketing content.
“I’d love to work with four to six brands a year,” she said. “Some years I get that, others not so much. It just depends.”
Stay Busy for Results
As many entrepreneurs have found, consistent activity is elusive.
“I wish it were more predictable,” Taylor said. “That depends on the size of our DIYMarketers community.”
Higher education is also part of upskilling, but even that can have unexpected drawbacks.
“Parents on a college Facebook page have been angry because the tuition is the same or went up since kids were at home learning and doing nothing due to the pandemic,” Taylor said. “People are questioning college’s value overall.
“Education is a whole conversation — especially the ‘pricing’ conversation and how universities increased prices when loans became prevalent,” she said. “They saw it as free money. So, they raised the prices, making education basically inaccessible for regular people.”
There was also a price extracted in overall learning.
“Education really has changed so much,” Taylor said. “Some kids really struggled with not having in-person interaction. Then others thrived being online. I see more flexibility coming up.”
In one respect, this would revive one of the best aspects of education from years past.
“‘Back in the day’ my masters program had a ‘remote’ version where students would come to the university for a week every quarter for powerful learning,” Taylor said. “Everything else was remote — without internet.”
Taking graduate courses, Staub has also seen the rough side of education.
“It’s a really hot topic,” she said. “The whole world of our public education system needs an overhaul as do many universities. I’m excited to see where it goes. Although there will be many mad people, it’s time.
“I hope that we look at the whole ‘serving all’ for real this time,” Staub said. “The option of online or in-person learning is huge. Education has never been one size fits all.”
Self-Taught Productivity
Meanwhile, CNBC International has found that 78 percent of entrepreneurs say working for themselves has improved their money management skills.
“I see myself doing more client work and maybe even creating an agency,” Ignjatovic said.
Working on new business projects naturally leads to developing more skills.
“One skill I’d really like to add is building community engagement,” Taylor said.
The optimal approach is to start small and build from there.
“I have to admit that I love managing and organizing at scale,” Ignjatovic said. “I’d like to do more of that.”
Being human, small-business owners have blind spots just like everyone else.
“Egads! I have so many,” Staub said. “My justice issue gets me seeing red. So, I need to upgrade my emotional intelligence.”
That perceived shortcoming might lead to a form of inferiority complex.
“My blindspot is in thinking that I’m never enough — that someone else knows better than I do,” Taylor said.
That might prevent overreaching, which has its own drawbacks.
“It’s a horrible way to grow a business,” Taylor said. “If you’re really particular about things, it starts with you and a process through which you can train others to do as well as you do.
“The hardest part is caring,” she said.
Another blind spot is forgetting about a business’ prime concern. From CB Insights, 14 percent of small businesses fail because they ignore their customers’ needs, while the same number fail because of poor marketing skills.
“‘I will do it myself’ has been my blind spot my whole life,” Ignjatovic said. “I’ve found that if I want anything, I have to take care of it. I don’t trust others enough to help.”
Go Basic for Improvement
Upgrades or upskills can have a noticeably positive impact on business.
“Writing search engine optimized-content has made a big difference for me,” Taylor said. “Plus, my basic skills in web design have made the biggest impact.
“I’ve been so lucky with virtual assistants,” she said. “It’s because my work descriptions are very detailed. That really helps with productivity.”
Another change for the better comes from focusing on what you can control when it comes to money. That includes financial planning, building an emergency fund, eliminating debt and saving for retirement.
“The biggest skills that have impacted my business are lead generation and marketing,” Ignjatovic said. “These skills have allowed me to increase my customer base and grow my business.
“Properly implemented, tech also can boost business in so many ways,” she said.
Staying ahead of the curve, entrepreneurs should plan to learn new skills every year.
“We will see what my profs have in store for me,” Staub said. “This summer is about getting our Australian shepherd meaningful work.”
Taylor plans to learn how to use marketing automation tools to create targeted email campaigns.
For those in the job market, the U.S. Chamber of Commerce states that 49 percent of small businesses actively hiring say it is hard to find candidates with the skills they need.
“It’s important to focus on acquiring financial and accounting skills,” Ignjatovic said.
That leads to those looking to upgrade their skills but not sure where to start.
“I would have them tell me about their current job and what they want in the future,” Staub said. “Make a list of wants, desires and needs. Go from there.”
Best Deals for Profits
There is no need for excessive expense.
“Start by consuming as much free content as you can,” Taylor said. “This will give you more direction on where you can invest to learn more.”
For those already in business, DIYMarketers has an article, “11 Lead Magnets You’re Going to Love.”
“You have to make sure you’re upgrading skills that will make the biggest impact on your business,” Ignjatovic said.
Besides knowing high tech, biology can make it difficult to keep up with the latest trends in business technology or skills.
“My age,” Staub said, mostly kidding. “There’s time and money — priorities. Which is more important: that coffee every day or your education? It’s a quandary.”
More immediately, entrepreneurs have to keep up with moving targets.
“There is just so much change with platforms,” Taylor said. “What makes it difficult is understanding all the helpful elements of a platform you don’t use all the time.
“I definitely feel how much more difficult it is for me to learn new things as I get older,” she said. “Yet, I push myself to always be learning new things to keep my brain from shrinking.”
Which to Pick?
That is especially helpful when there is too much of a good thing.
“There are too many platforms,” Ignjatovic said. “To leverage technology, you have to stay on top of it, but when there are too many, it’s hard to keep up.”
Because it’s difficult to find the time or money to invest in yourself, business owners need to upskill on a budget.
“There is so much free information and education out there,” Taylor said. “It’s a great way to gain basic info before you invest a lot of time and money.”
Capitalization on connections is also priceless.
“This is what networks are for,” Ignjatovic said. “Reach out to someone in your network who has this skill. Work with them or offer to help them to learn the new skill.”
Ignoring upskilling is not an option.
“You can’t afford not to upskill,” Staub said. “You will make time and save money for what is most important to you.”
About The Author
Jim Katzaman is a manager at Largo Financial Services and worked in public affairs for the Air Force and federal government. You can connect with him on Twitter, Facebook and LinkedIn.
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James L Katzaman
Jim Katzaman is a charter member of the Tealfeed Creators' program, focusing on marketing and its benefits for companies and consumers. Connect with him on Twitter, Facebook and LinkedIn as well as subscribing here on Tealfeed.
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