What are the basic survival skills you need to run a business?
There are two basic survival skills you need to run a business. The first is technical or basic business skills, while the second is having an entrepreneurial mindset.
Basic business survival skills
The basic business survival skills are:
- Understanding of your industry and knowledge of your product.
- Understanding pricing, costs, break-even, gross margin and profit.
- Basic bookkeeping and numeracy.
- Selling/marketing skills.
- Customer relations skills.
- Good communication skills.
- Team leadership.
- Working knowledge of taxation.
We discuss entrepreneurial mindset in some detail in FAQ 2.5: https://www.freeforumofideas.com/faq/5-what-does-it-mean-when-you-say-someone-has-an-entrepreneurial-mindset/
Also, please see FAQ 2.6: https://www.freeforumofideas.com/faq/6-how-do-you-develop-an-entrepreneurial-mindset/