The proliferation of technology in the 21st century has made it much easier to run a business for entrepreneurs who have mastered technology and much harder for those who haven’t been able to keep up with it. Industry experts are of the opinion that there are 4 essential 21st century skills that are the determinant of whether a business will succeed or fail.
This article seeks to explore these 4 skills and how they are of benefit to both an entrepreneur and his/her business.
#1 Digitalliteracy skills
In today’s business world, literally everything can now be done digitally, from record keeping, to finance, to HR, name it. This has enhanced convenience as well as reduced personnel costs and overall business operation costs. As an entrepreneur digital literacy skills will be important because they will help you make technology related decisions to make your operations more effective and efficient. Digital literacy will basically entail your understanding of various present day technologies, how they work and how they can be relevant for your business.
#2 Problem solving skills
The key to the success of any product or service is its ability to solve a problem for the consumer. Most business that thrive today are that are proving to be the best at satisfying consumer needs. As an entrepreneur, for you to be able to ensure that your business stays relevant and you are a step or two ahead of your competition, you should have the ability solve problems and present your business as the best solution provider available. Being a good problem solver and surrounding yourself with staff who are problem solvers themselves will ensure high productivity and higher profits for your business.
#3 The ability for inventive thinking
In addition to digital literacy and problem solving skills, as an entrepreneur, it will be important to have inventive thinking. This is essential if you are to be able to translate your understanding of technology and consumer problems into a new or improved product or service. With this skill, you will find it much easier to adapt to situations and complexities that emerge in the market, and find creative ways of ensuring your products and services are tweaked to suit the emerging market needs.
#4 Effective communication skills
To cap off this list of 21st century skills is effective communication which is of course a no brainer. Your ability to communicate clearly with your audiences which will include customers, employees, suppliers, investors, as well as other stakeholders will be key in any business. This is not a skill you will be able to survive without.
The ability to marry all these skills and effectively apply them in your day to day business operations will ensure you produce relevant, high quality services or products, thereby maximizing your profits.
We invite you to share with us your experiences and success stories in your business adventure.