We might like to draw a distinction between business Management skills and Professional skills.
So if you are an accountant, a solicitor, a hairdresser, or a builder, these titles describe your Professional skills, and these are the skills you will deploy to make your living. The ability to keep books, apply the law, style hair, or create a building are the skills that your clients will pay you to deliver.
But you also need to have Business Management skills that will help you to manage yourself, your business and other people under your supervision.
These skills will enable you to run a business effectively. Nobody will pay for your services if you don’t market your business to clients, deliver on time and to order. Then you have to collect payment, and will have a responsibility to keep books, account for tax, pay staff.
So if you are a tradesperson, or offer a service, and want to use your skills to develop a business then you also need to develop business skills. These skills will enable you to run the business effectively.
Quick Facts: Comparison of Business Management and Professional Skills
To manage a business, in addition to your professional skills, you need to have the business management skills to be able to ;-
- win work
- purchase components
- schedule the job
- do the work well and on time
- liaise with the client
- invoice the client
- Collect payment.
- arrange bookkeeping
- write quotes
- produce estimates and tenders
- control costs to ensure profit on each job
- pay staff and bills
- keep up to date with tax returns and pay taxes
- Ensure the next job is lined up when you have completed the current one