Any entrepreneur looking to start a small or home based business and make money online needs a combination of technical and analytical skills, combined with some soft skills.
While there is often no substitute for diving into the world of business and ?learning to swim?, it is possible to save time and effort by picking up new business skills and techniques as early as possible.
This article will show you which skills are vital for online entrepreneurs as well as information and advice on how to master them.
The skills required to start a business online, regardless of whether it is a blog, traditional business with a website, or eCommerce store, can be grouped into four main categories:
- Technical
- Analytical
- Managerial (Operational)
- Soft
Technical skills
Since part, or all, of an online business requires the use of a blog or website, an entrepreneur needs to have a sound understanding of the following:
- Hosting & domains
- Web design & development
- Search engines & SEO
- Online communities
Taking the time to learn a bit about these important aspects of your online business can save a lot of time, effort and money in the long run.
Many home based business or small business startups waste money on custom Web design and development when there are many powerful business and Web design tools that provide high quality website solutions at affordable prices.
Skill #1: Know how to build an affordable website that is perfect for your business
You can learn more about how to start a business online (the Website part of it) by reading the following articles and resources on small business hosting, development and websites:
Having a website is a start, but it won?t be much good unless people visit. Knowing how to generate traffic that can be converted into revenue is arguably the most important skill for any Internet entrepreneur.
Since the vast majority of all Internet traffic originates with search, SEO (Search Engine Optimization) and online marketing skills are key.
Skill #2: Learn how to market an online business using SEO, content and social media
SEO is a vast field and requires a range of skills and experience to get right. Read the following excellent SEO and social resources and articles to get a good start (the free eBook is especially comprehensive):
Analytical skills
Having an operational startup that is generating a flow of revenue is great. But, without understanding where the potential for growth and opportunity lies, you might miss out on real success.
Being analytical means understanding why traffic arrives at a site, how it flows around the site, how it converts, where and why it leaves, and so on.
Understanding all of this can help to:
- maximize conversions
- increase ROI (Return on Investment)
- Improve and refine marketing
- Improve and refine content
- Improve and refine Web design
Skill #3: Master Web analytics and use analytical data to inform business strategy and ideas
You can learn more about how to implement and use analytical data by reading the following articles:
Managerial skills
Operational skills come to the fore once a small business is up and running. Day to day tasks need to be done efficiently and in a timely manner. Employees need to managed and motivated.
Grants. Loans. Accounting. Tax. PR. All of these things, and more, need to be managed well in order to keep things running smoothly.
With a growing business, you will soon find that operational and administrative tasks become a real distraction. It?s important that, as the leader, you are able to focus on growing the business. This means someone else (either an employee, remote worker, or third party service) has to take on those responsibilities.
Skill #4: Know when to delegate and who to delegate to
Fortunately, there are a wide range of options when it comes to managing small businesses.
There are excellent software packages for small business, innovative services that improve efficiency, simplify tasks, and save time and money.
I recommend you read the following articles that highlight worthwhile small business software and services:
Soft
Soft skills are those skills that deal mainly with social interaction, communication, outlook, habits, and so on. It is really, really easy to underestimate the importance of these qualities for any online business startup.
Many bloggers, and other Internet based startups, tend to overlook the human aspect of business because there is a degree of separation from readers and customers online.
The fact of the matter is this: Making important business and personal connections is even more important for online businesses because it is much harder to build authority and trust over the Internet.
Skill #5: Learn how to build social influence
Learning how to reach people socially via the Internet can be the difference between a moderately successful business, and a run-away smash hit success.
You can learn more about social marketing with these articles and resources:
Are you thinking about starting a small or home based online business? What skills do you feel you lack? Are you already an experienced Internet entrepreneur? What business skills did you find most useful for your business?
Share your startup skills, tips, and experiences in the comments or join me on Twitter, LinkedIn and Google+ to continue the conversation. Sign up for my weekly newsletter to get the best tips, ideas, answers, and advice for entrepreneurs, bloggers and small business.
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