Three Important Skills needed to run a successful business in 2024
Business is such a strange thing, and I think most of us just really do not understand what it takes to run a business. I had no idea what I was doing when I first decided to register my company. I knew I wanted to work for myself. I had a few ideas of what I wanted to do and what I wanted to create, but no concrete plan. All I knew was that I was going to start a business and that it would be successful somehow.
And I think that is something that a lot of people do. We do not understand the mechanics behind a successful business. In fact, I would go as far as to say that we lack the basic knowledge and principles of running a business. We have this weird perception that we will start the business, and then somehow, by some weird, invisible, and miraculous energy, clients will gravitate toward our business.
But that couldn’t be further from the truth. In my opinion, business, as I have come to find out, is built on a foundation of learning, sales, and, most importantly, communication. Without these three components, I don’t think any business could be successful. It’s no wonder we have so many businesses that fail; many of us just lack these basic skills.
The biggest reason for this is a lack of desire to learn. People don’t read; they are okay with not knowing what they don’t know, which is crazy. There are millions of people out there, and there is a 100% chance that you can find someone who has gone through the same struggle and conquered it. Find them, either through their book, podcast, blog, videos, courses, or in person. Find them and get yourself a mentor.
“Books serve to show a man that those original thoughts of his aren’t very new after all.”
Abraham Lincoln
I don’t think anyone can even hope to succeed in business without having the desire to learn. There is so much knowledge out there, and so much that you do not know. Considering how many people don’t read, if you read one book a month or listen to a podcast, if you just do some learning, that itself will give you a huge upper hand over other businesses. Learn, learn, and keep learning.
I was a bit conflicted as to which order to put communication and sales because they are of equal importance, at least in my experience. Every business owner, in the beginning, is really not a CEO, CFO, COO, or any other fancy abbreviation. There are simply sales agents. And if more people understood this, more people would succeed. You need to learn how to make sales, and this encompasses everything from marketing to lead generation, sales funnels, and closing deals.
No business can survive without making sales, and sales cannot be made without a sales agent. It is your duty to hunt down clients. To pick up the phone and call potential customers. To DM, to email, to do whatever you can to bring paying customers through the door.
“Sales rarely get better by just waiting around.”
Colleen Francis
One of my clients, who owns a construction company and a few other companies, told me an interesting story. Earlier in his youth, he was a welder, and he wasn’t getting enough clients and, therefore, not making enough money to support himself. So, he decided to go to schools and weld their broken chairs and tables for free. After doing it for two or three schools, word of mouth started spreading like wildfire, and he was able to get so much work and high-paying work at that.
It’s not always about cold calling or cold emailing; you need to find creative ways to attract people to your business and let them know what you do. This is the only way you can make money. People will not buy from you unless they know that you exist. So, you need to always be in their face. You need to continuously let them know that you exist. You are here, and you are here to stay. Clearly let them know what you do every day and in any way that you can.
Communication, although not the very first step one needs to take to run a successful business, is still the most important aspect. I mean, this is simple: you’ve learned how to run a successful business from books or somewhere else. You’ve implemented the advice and started booking meetings. If you cannot communicate with the clients, then you cannot build relationships with them. If you cannot negotiate, you cannot get paid the amount you want. If you cannot express yourself professionally and confidently, you cannot close the deal.
It’s really that simple. Maybe, by some miraculous fluke, you are able to close the deal, but a lack of communication will hinder the growth of a relationship between you and your clients. If there is no relationship between you and your clients, then you won’t be able to offer them more deals, entice them to pay more, and, most importantly, encourage them to refer you to other people.
“The way you ask a question — and how you follow through in the conversation — has an impact on the result you get. It might not change the outcome, but it can take a lot of the sting out of hearing no.”
Jia Jiang
Any business owner who lacks any one of these three attributes is destined for failure. I do not care how much capital you might have or the people backing you; it’s all in vain. Nothing can compensate for it. You have to develop these skills; do so by any means. I used to hate reading, but I forced myself to read, and now I just love it. The knowledge I get from books is too addictive for me to stop reading. Get over whatever hurdles might be stopping you from acquiring these skills and come over to this side; it’s worth it.
