While a number of essential business skills are usually learnt on the job, it is advisable for wantrepreneurs to prepare themselves by learning a series of critical business skills.
It takes a lot to convert a potentially viable business idea into a successfully running business operation and only a handful of entrepreneurs succeed in this endeavour. It is estimated that 90 per cent of startups fail within the first five years of starting up. Lack of innovation, inadequate financial management, below par marketing strategies and overambitious expansion plans are some factors that ruin businesses startups.
Launching a business and setting it into operation requires multiple skills. Entrepreneurs overseeing this phase of business must therefore be capable of wearing multiple hats and undertaking a series of technical as well as…