#14: Know your business skills – Part 1

Going back to my previous article on business inventory skills where you will have looked at your own strengths and knowledge, it is now time to turn to those in your team.

This business skills list is highly relevant, whether the business is going to be just you or more than you. I will reinforce the point by referencing “The Beermat Entrepreneur”, written by Mike Southon & Chris West. This is a great little book which starts with five guys setting up a company and dividing the roles up between them. The company they set up sees them each with 20% of the equity, so there is no argument over who earns what.

They divvy up the jobs between them based on what they are good at and what they enjoy doing. They are all capable of doing more than one thing but there are five of them, so how is it shared out?

• They start with a great networker, who can go out and be very ambassadorial, press the flesh, make people aware of the business, what makes it different, and generate leads. They are not necessarily the best salesperson but they are brilliant at getting out there and making the world at large aware that the business exists. This person is supported by what Mike and Chris call “Cornerstones”.
• The second is the creative member; he comes up with the first product or service based on market needs, and whilst that is being marketed he develops the next product or service.
• The third is a sales person who will go out, selling what the creative has come up with and capitalising on the awareness that the networker has created.
• Then you have the operations person who deals with everything post sale. So getting the right product to the right person, on the right day, in the right location and dealing with all the administration.
• The final one is the finance person who keeps a vice like grip on the cash in and out. So, that is the way they share out the roles and responsibilities.

A set-up like this is really important if you are intent on building a business that is scalable and capable of sustainable profitable growth.

So whether you are working on your own or in a team, it is very important to know your strengths and play to them. Make a list of who is best at what within your team, and who enjoys doing certain roles the most, and use this as the base of you business skills list.

In my next article we will continue to look at business skills, and what you need to do if you are running the business alone, rather than in a team.