Transcript What Skills Do Entrepreneurs Need?

What Skills Do
Entrepreneurs and I
Need to Guarantee my
Success?
Introduction to Business
Entrepreneurship
Basic Skills are a Must
 Though
businesses and the people
that run them differ there are
common skills that can be found in
each business owner…
– Communication
– Math
– Problem Solving
Definition of Skill
 Webster
defines Skill as a
DEVELOPED PROFICIENCY or
dexterity in some art, craft, or the
like; deftness in execution or
performance; a trade or craft
requiring special training for
competence or expertness in its
practice.
 The key word is developed or
learned.
1. Communication Skills
 1.1
Writing Skills
– Business people must be able to
effectively communicate to: customers,
suppliers, and employees.
 Good
writing communicates ideas clearly
 By being positive/persuasive and by
convincing the readers that they should
accept what is written.
 Three C’s of communication…Clear, Concise,
and Coherent.
GENERAL STANDARDS

1.1a Effective Letters (written skills)solicit business, respond to clients or
negotiate.
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Key ALL Correspondences
Spell ALL Names correctly with correct address
Must be Dated
Use appropriate names and titles
Be direct and positive
Be Persuasive
Avoid difficult language
Be polite
Use appropriate and tasteful closing
Writing Letters: Formatting a
Business Letter
Standards (general accepted rules)
Start at the Date Line (2 inches from the top)

Return four times
– Inside Address (receiver's address)

Return two times
– Greeting Title and Last name (or business title)

Return two times
– Open punctuation after the greeting (optional)
– Body of the letter
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Single spaced and aligned at the left
Double space between paragraphs
– Closing (complementary to the letter) appropriate

Return four times
– Type the senders name (full and appropriate)
Common Errors in Letter Writing
Spelling and
Grammar
 Address errors
 Formatting errors
 Signature does not
appear on the
document

Do not start a
letter with, “I am
writing this letter
because….”
 Informal use of
language

– No contractions or
abbre.
– Yas, cuz ain’t, ru

Failure to
proofread
Personal Letter vs. Business Letter
Personal Letter
 Informal
 Conversation
 Entertaining
 Writer and reader
relationship
Business Letter
 Formal Document
 Specific purpose
Inform, persuade
and remain
positive
 Follow the three
C’s
 Mailable Copy
(without errors)
Effective Communication
1.1b Effective Memos- short written form
of business communication with a set
standard.
– To:
Receiver
– From:
Sender
– Date:
Origination Time
– Subject: Topic of the document
 Anyone that does business with or within
the business may get memos

Writing Memos: Formatting a
Memo

Standards for memo writing
– Date: (2 inches from the top)
Return twice
– To:
Receiver name and title
Return twice
– From: Sender and title
Return twice
– Subject: Topic overview
Return twice
– Body left aligned. Three C’s are strictly
enforced. Memos are used to discuss policies,
procedures or assign tasks.
Effective Communication
 1.1c
Effective emails -electronic
forms of communication similar to
memos
 Three
C’s should be enforced.
 Spell check and proofread carefully
before sending.
Communication
 2.1.
Speaking skills
– verbal communication,
via phone or person to
person will occupy most of
a businessperson’s time.
– How well you present
yourself will have a huge
impact on people.
Communication

2.1a Telephone – Speaking on a telephone
it is important to speak clearly talk directly
into the receiver.
– Be Cheerful
– Always Speak Politely
– Think about what you want to say
– Take notes to get names, dates, figures
correct (repeat spelling, dates and
figures for clarification)
Communication
– Limit distractions
 Close
the door to your office
 Turn off TV/Radio
 Take notes have necessary items close at
hand
– Take Notes
 Dates,
Times and Names
– Repeat them for clarification
– Talk only with the person on the
phone
FYI about those CELLS
– If you are on a Cell Phone
connection tell the other party
(Limit the distractions and sidebar
conversations) not always
appropriate but does add
convenience
Communication

2-1b Face-to-Face whether it be a first-time
meeting or routine…
– Confidence is very important
– Shake hands
– Make eye contact (dependent upon culture)
– Show interest in the conversation
– Speak clearly and slowly
– Pay attention when others are talking (turn off
cell phones, pagers, walkie talkie services)
– Always remain polite
Communication

3.1 Listening- most
people do not
listen closely
enough to what is
being said most
people hear what
they want to hear.
 To
Communication
Improve Listening Skills
– Focus your attention on the person that
is speaking.
– Resist the temptation to interrupt…think
about what the person is saying.
– When finished speaking ask some
questions to clarify points (make sure
you understand)
– Take notes on points to confirm what
you hear. (ask the speaker to review the
notes.)
Communication
Pay attention and try to concentrate
Limit distractions
–
no fidgeting
–
no talking
Set up and take notes
Knowing when not to talk is a very important
Problem Solving
Problem Solving
 4.1
Problem solving skills are a
necessity in business practices.
– Whether it be
 Customer
problems
 Employee problems
 Equipment problems
 Creditors
 General office policies
 Maintenance and operations
Some business
people refer to this
as “putting out
fires”
Problem Solving


FORMAL PROBLEM
solving models help
business people and
business work through
difficult issues in a
logical manner.
Usually conducted by
one person (manager
or business owner)
1.
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5.
Define the problem
Gather information
Identify Various
solutions to the
problem
Evaluate the
alternatives and
select the best
alternative
Evaluate the action.
Problem Solving
4.1a Formal Problem Solving
– has a profound affect on ALL those
involved.
– Someone is “NOT” going to be happy
with the consequences when the
decision is rendered.
– This method can be extremely time
consuming and costly to the business.
Problem Solving


4.1b GROUP METHOD —sometimes you
may want to include others in the decision
making…
Most Common Method
– Brainstorming
 Moderator—leads
umpires
 Reporter-takes
the discussion sets the rules and
notes so everyone can see ideas
 Participants-everyone
should have a voice
Problem Solving

Rules for Brainstorming
– Ideas are not to be criticized or commented on
until all ideas are mentioned
– After the ideas are exhausted Moderator will
begin a discuss about each of the ideas
 Evaluate
and comment on each item
 Set guidelines for the discussion
– Idea Guidelines
 Must be practical
 Implement easily
 Be acceptable by a majority
Problem Solving
 Team
Decision Making
– All members of the team are responsible
for coming up with ideas, independently,
to solve a problem.
 Members
are accountable to one another
the team earns (losses) benefits according
to team member involvement.
 Team decision which is implemented earns
and shares the benefits from the solved
problem. (profit sharing)