BEFORE YOU START THE BUSINESS - PART 2

KNOW YOUR STRENGHTS AND WEAKNESSES: 

Knowing your strenghts and weaknesses is something that is very crucial in your business. You must hve heard about SWOT analysis. SWOT analysis is nothing but the analysis of one's strenghts, weaknesses, opportunities, and threats. Every business has to do this analysis before commencing its business activities. This will place you in a better frame of mind and help you achieve your business goals with ease. You will require a number of skills to start and run a successful business. 

The skills needed can often include:

:

• management skills, including business planning and the ability to think long term 

• interpersonal skills, including the ability to communicate and network well to grow your business

• industry expertise

• technical knowledge, particularly about the product or service you are selling

• marketing skills and knowledge to promote your products and services

• managerial and finance skills 

You should be aware of your areas of strenghts out of the skills listed above, and learn to concentrate more on them, while you blend the other skills on equal measure. Knowing your weakness is more important than being aware of your strenghts. You should take steps to convert your weaknesses into strenghts, once you are able to identify them. By doing this, you will become less vulnerable. 

Incase you missed the part 1 - you can read it here Before your Start the Business Part 1