Process Essay: How To Run A Successful Startup
The business environment has become very competitive today. This has made it very difficult for startup ventures to succeed because they face stiff competition from the other well established businesses. Several researches have shown that only 10% of startups have grown to become renowned global brands.
The main concern then becomes, what does it take to run a successful startup? There are several skills that you will need to run a startup to ensure it grows successfully. Global Executive MBA is a program that empowers people to get the skills required to run a startup as well as other established businesses throughout the world.
The 5 key skills you should have to run a startup are explained below.
Marketing and customer-relation skills.
Customers are the most important aspect in the operations of a business. They are
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Know how to keep reliable accounting records as they are essential for the process of decision-making.
With proper financial management skills, you will be able to steer the startup towards the path of profit-making and eventual growth.
Proper personnel identification and acquisition.
You cannot separate a startup from its employees. In simple terms, the success of a startup is dependent on the quality of human resource that the startup has. Competent, skilled and experienced employees will be a great recipe in ensuring the startup is successful.
The ability that you have in identification, hiring and maintaining a pool of employees who will propel the startup towards success is very essential. This requires that you have very good human resource management training.
it is important to note that there is more to human resource management than just the ability to pay salaries. You need to be able to create a path, put down policies, make rules and have policies aimed at ensuring the startup succeeds.
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