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What are some skills that can prove to be an asset in running a small business in the...

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yacel0762 | Valedictorian

Posted September 5, 2012 at 2:24 AM via web

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What are some skills that can prove to be an asset in running a small business in the fashion industry?

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thanatassa | College Teacher | (Level 2) Educator Emeritus

Posted September 5, 2012 at 2:33 AM (Answer #1)

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Running a small business requires a far greater variety of skills than running a larger business because you do not have as large and specialized a staff. First, you need a good understanding of strategic business planning, as you will we setting the long term goals for your business. Next, you need a strong personal vision that will define your marketing niche. Third, you need to be a good human resource manager, and have strong interpersonal skills for managing and motivating your staff. Next, even if you hire an accountant to manage some practical financial details, you need skills at dealing with budgets and the discipline to monitor cash flow strictly. Finally, you need dedication and persistence and versatility to work long hours and handle all aspects of your business.

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