“A great idea is not enough to start a business”. At this point you’re probably sick of hearing this phrase or maybe you’re reading it for the first time, either way, it doesn’t make it less true. A great idea was never enough to start a business. Business skills like marketing, finance, management, leadership, can make or break your business. You can’t sell a product without marketing it, you can’t estimate your expenses and profit without having enough finance skills.
The importance of business skills
Earning money is at the heart of every company. Regardless of the industry in which you choose your startup, your main goal will be to make a profit. Even if you know the industry you’ve chosen inside and out and don’t have the necessary business skills, you’ll find it difficult to succeed.
Many of the skills will have dedicated and professional staff focused only on these areas, and over time it will undoubtedly be beneficial to consider new hires. However, when you start your startup, you may not have the funds to hire new employees. By learning these business skills yourself, you’ll set your startup up for success.
Essential business skills
Business skills are the some of the building blocks of every startup, let’s look at some of the essential ones:
- Commercial marketing is a set of activities carried out by a commercial enterprise designed to influence others to act in ways that will maximize value for the owners of the enterprise over the long run.
- Management is the administration of an organization, whether it is a business, a non-profit organization, or a government body. It is the art and science of managing resources of the business.
- Finance is the process of raising funds or capital for any kind of expenditure. It is the process of channeling various funds in the form of credit, loans, or invested capital to those economic entities that most need them or can put them to the most productive use.
- Leadership, both as a research area and as a practical skill, encompasses the ability of an individual, group or organization to “lead”, influence or guide other individuals, teams, or entire organizations.
- Digital marketing is the component of marketing that uses the Internet and online based digital technologies such as desktop computers, mobile phones and other digital media and platforms to promote products and services.
Professional coaching sessions at Africa By IncubMe
At Africa we are particularly aware of the importance of these skills, which is why we made sure to incorporate professional coaching sessions into our program. These sessions will be conducted by professionals from our partners.
Partners such as Djezzy, Nestle and others, will dedicate professionals from their personnel to supervise the coaching of the participants. It is worth noting that the coaching will vary depending on the needs of the participants. In other words each participant will receive personalized coaching based on their needs and their industry of interest. Our partners also offer onsite visits to introduce the participants to the full scope of a business.
In addition to that, participants will be invited to gatherings where they will get to meet and discuss with successful business owners.