10 Competencies You Need to Succeed in Business

Whatever position or industry you’re in, a successful career in business requires certain attributes and qualifications. Whether your ambition is to become a manager or leader, or you want to run your own ship, you can’t excel in business without having expert knowledge and attributes behind you. To propel your business career forward, here are some of the skills and credentials you’ll need to obtain first.

Education

The business world is highly competitive. Whatever role you’re interested in, there will be many others alongside you fighting for the same position. To put you at an advantage, going back into education and earning specialist qualifications can be a huge help. While many people pick an MBA (Master of Business Administration) to get ahead, others study a doctor of business administration online at Aston University, which is the highest-level credential you can get. When you graduate and have these qualifications on your CV, you’ll gain expert knowledge and characteristics to set you up for a successful business career. 

Communication

Working in business requires you to have excellent communication skills. Every day, you will come into contact with people from all different backgrounds. From customers to clients, stakeholders to fellow employees, professionals rely on communication to accomplish organisational goals. Should there be a breakdown in communication, this can prove catastrophic for the business. Communicating effectively is arguably the most important life skill to have. It’s what helps us relay information to others, as well as understand and interpret what is said to us. 

Active Listening

As well as effective communication, anyone in business must possess active listening skills. This is where you make a conscious attempt to not only hear the words that another person is saying, but understand their point of view and take their opinions on board. In most business roles, you’ll have weekly meetings where you all discuss projects and tasks. This serves as a chance to utilise your active listening skills and ensure everyone is being listened to and heard. If you’re a business leader, it’s vital you give employees an opportunity to share thoughts. 

Marketing

If you have plans to launch a startup, you need to get to grips with marketing before anything else. This is because your audience needs to be aware of your products or services, otherwise, your brand will never get off the ground. You don’t need to be a whizz at marketing either to get your voice heard. Simply setting up a professional website, creating a blog, and opening social media pages for your business can be a great start. Marketing is a key component of a business as it enables you to share your products and services strategically, as well as prove to your target demographic how great your company is, and how you can help them.

Negotiation

Good negotiation skills contribute enormously to business success. Effective negotiation helps you build robust relationships with customers, employees, and clients, and deliver long-lasting, quality solutions. In a nutshell, negotiation holds the power to getting ahead in the workplace, and resolving issues quickly. Negotiation is also considered highly essential for effective teamwork.

Networking

In business, you will need to network with people on a daily basis. If you’re an entrepreneur and want to set up your own company, engaging with experts in your field and forming relationships is key for success. When you network, this gives your business the chance to break into new markets or work with other brands, both of which are essential for driving your company forward. There is always something new to learn in business, so networking and speaking to those in the same sector can give you powerful advice and tools that can be implemented into your own operation. 

Leadership

For people seeking managerial roles or going it alone, you must know how to lead a team. If you’re not confident in your abilities to do this, you can’t expect others to believe in you either. Leadership skills are mandatory for business success. Effective leadership can cultivate a sense of greater good within the business and promote teamwork. As a leader, you need to take responsibility for your actions and motivate and inspire your team to perform at their best. 

Delegation

Projects and tasks are part and parcel of any business. Whatever sector you’re in, you’ll have clients you’ll want to impress and keep on your books. This means when you’re set a task, you need to have excellent delegation skills. This enables you to share out duties to your team, so each member knows exactly what to do and where they stand. If you’re in charge of a team, you will need to know your employees’ strengths and weaknesses, so you can delegate accordingly. 

Time Management

Alongside delegation is time management skills. With deadlines to meet, you need to map out the project or task from start to finish. Organisation is key when it comes to meeting your targets and ensuring the project runs smoothly. To keep clients happy and avoid the risk of going over a deadline, mastering time management skills is essential. When you manage your time intelligently, this leads to greater productivity in the workplace, as well as less stress and more chances to do other tasks that matter.

Passion

Finally, to thrive in the business world, you’ll need to have passion for what you do. If you wake up in the morning and dread the thought of going into the office, then chances are you won’t work at your best. Excellent productivity and efficiency are two vital characteristics to learn and abide by in business. This will help keep you motivated and take pride in your achievements. Being passionate gives you a powerful edge that can be used to stay one step ahead of rivals. 

Success demands more than resilience, hard work, and expertise in your sector. You will need to learn and master the attributes above, as well as step back into education to earn relevant credentials to accelerate your business career.