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Master your Valuable
Business Skill
Ted
Santos
We are all different,
and each of us possesses a valuable business skill that gives us the upper hand
in everything we do.
Whatever your talent,
being able to master your valuable skills in business will set you apart from
your peers.
Whether it’s learning
to write for the first time or solving complex quantum physics’ equations, what
you may find easy may be difficult for the next person.
In business, there are
many such skill that separate one entrepreneur from the next.
From problem-solving
to leadership and marketing, we all have one or more valuable business skill.
Whatever doesn’t come
as a natural talent to one business person may often be a valuable skill for
you.
For this reason, most
people can be considered experts at writing because of their creative ability
with words.
There are also people
throughout the world who are great at solving fascinating mysteries through
quantum physics and that makes them valuable to the people they work with.
This article is about
how you can master your valuable business skill after you have identified with
it.
Understanding the
Basics
If you and I go down
the list of simple tasks like tying shoes, riding a bicycle or learning a new
language, it will become apparent that everything is difficult in the
beginning.
What we may also find
is that our ability to learn or master these skills will come in varying
degrees.
I do not remember the
first time I learned to walk as an infant, but I am positive I failed many
times before I was successful.
Now, years later I
walk without effort. The same is true when it comes to tying my shoes or
running a complex organization which employs thousands of people.
Every Skill can be
Learned
Even though most
people master the basics like walking, tying shoes, mathematics, speaking a
language, few people turn walking into running at record speeds like Usain
Bolt.
It seems easy to
explain Bolt’s performance after the fact but the reality is every skill can be
learned. He was not born running, he learned how to run by harnessing a skill
that came naturally to him.
People use
explanations like genetics, luck, being in right place at the right time, etc.
for people who seem to outperform the norm.
However, if you look
closer, you will recognize patterns that are inherent in people who achieve
extraordinary success. The apply themselves to the skill they want to develop.
Everything is
difficult at the Beginning
If you and I can
accept that everything is difficult in the beginning, even the simplest tasks
like walking, then you begin to see that limits are self-imposed.
In Malcolm Gladwell’s
book, Outliers, his research showed that people who practiced anything for
10,000 hours or more became masters at that craft.
If we stick with the
simple task of walking, you never hear people explain a child walking as a
matter of luck or genetics.
The child practiced
over and over, even in the face of many failures. With that said, perhaps
nothing is difficult.
It is just a matter of
how committed you are to put in 10,000 hours of practice.
Practice, Practice, Practice
In Gladwell’s book,
for example, he said that musicians who practiced 10,000 hours or more from age
5 to 18 usually found a job in a world-class symphonic orchestra.
Those who practiced
8,000 hours were able to make a living as a musician by playing in a band that
traveled often.
Except, the band never
made it big. Those with 4,000 hours or less became the high school music
teacher.
The same was true for
dancers, athletes, attorneys, and entrepreneurs.
These are patterns
that can be seen in any profession. More importantly, every profession has
opportunities that are recognizable to the master of that craft.
Whether you are an
investor, teacher or gambler, over time, you acquire the ability to see
opportunities that laymen are unable to recognize – this is your valuable
skill.
With practice, you can
predict how the situation will unfold. With that knowledge, you can exploit the
opportunity.
The observer would
call it luck. Why? Because the layman would find it difficult to produce the
same result.
While everything is
difficult in the initial stages, simplicity arises from of hours of focused
practice.
With practice, the
most complex task becomes as simple as walking. It only requires the innate
tenacity we all possess as infants.
What will you begin to
master in your life?
Make a list of skills
that come naturally to you. Writing is a skill. Speaking is a skill. So are
creativity and thinking in business.
Make this list and see
which of these are your valuable skills. You can do this also for your
children.
The earlier you can
identify the skill the sooner you can start harnessing the value you can derive
from your natural talent.
Once you have
identified your valuable skill, learn about it. Immerse yourself in the
knowledge of how you can improve that skill or talent.
Most of all, make sure
you apply your skill on a day to day basis through practice.
Essential Business
Skills
What business skill
come to mind and how can they be valuable to your business? Your business will
be different.
You need to identify
what skill or skills key to your business’ success and master that. The
following skills are the most basic essential skill to your business:
1. Financial management
Being able to effectively manage your finances
is critical. You will need to be able to forecast your cash flow and sales, as
well as, monitor your profit and loss.
2. Marketing, sales and customer service
It is important to be able to promote your
products or services effectively. Providing good customer service and having a
marketing strategy in place will help you to generate sales.
3. Communication and negotiation
You will need to communicate and negotiate
with your suppliers, potential investors, customers, and employees.
Having effective written and verbal
communication skills will help you to build good working relationships. Every
communication should reflect the image you are trying to project.
4. Leadership
If you employ people leadership will be a key
skill. You must be able to motivate your staff in order to get the best out of
them and improve productivity. Allocate time to mentor and coach your
employees.
5. Project management and planning
Starting a business means you will have to
manage a range of projects, such as setting up a website, arranging the fit-out
of your premises and developing a range of policies and procedures.
Knowing how to effectively manage your
resources, including time, money and staff will help you to achieve your goals.
6. Delegation and time management
Failure to delegate is a trap many business
owners fall into usually because they are reluctant to let go of control.
Managing your time effectively may mean delegating
responsibility to someone else in the business or outsourcing.
Identifying who you can delegate tasks to
allows you to concentrate on those tasks that generate revenue.
7. Problem-solving
However, much you plan, you will encounter
problems in your business. This means you need to be able to make good
decisions, sometimes under pressure.
8. Networking
Building good relationships through networking
will help you to grow your business and give you the support you’ll need.
Consider joining an industry or business association to grow your network.
Mr. Ted
Santos is skilled at reinventing companies and individuals. Over the past
25 years, he has reinvented himself several times. From sales trainer,
executive manager, entrepreneur, executive coach to currently Chairman of an
organization that provides high-value services to CEOs of midsize to large
corporations, Mr. Santos is experienced with change. As Chairman of the Board
of Veteran CEOs, Mr. Santos is responsible for developing strategic direction.
He also recruits former CEOs of Fortune 1000s to lead roundtable discussions to
provide guidance and mentorship to sitting CEOs of mid-cap companies. In
addition, he offers direction to scale BoV's value proposition beyond NYC and
into major cities throughout the US. BoV has expanded its offering to middle
market CEOs by creating innovative platforms designed to educate and develop
CEOs in a confidential environment with peers. Mr. Santos is a native of New
Jersey and attended Howard University as a marketing major.
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