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5 skills you need to fast-track your career in business management

fast-track your career in business management

Are you looking to manage a business? Or are you already settled in the business sector, but wanting to fast-track your career? Either way, you want to be the best you can be so that you reach your professional goals and fulfill your dreams. Allow us to share a few secrets that’ll help you on your way.

Firstly; to be the best, you need to offer the best. Whether you’re set on working in a corporate firm or looking to venture into the entrepreneurial sphere, you’ll need to have acquired specific skills to propel you, your team and your business forward.

We’re not talking about the entry-level skills required by most firms seeking out competent business management executives. We’re talking about refined, up-to-date, industry-specific skills that employees struggle to find but desperately want.

To stand out from the crowd you need to go the extra mile and acquire the skills that are in high-demand. Ready to see what it takes to become the best in your field?

Technical Skills / Hard Skills

1. Highly-effective management and leadership skills

As a business manager, and as an entrepreneur, you’ll likely be leading a team. Understanding the difference between management and leadership is the first important step. It’s imperative that you learn updated techniques to manage your team in the most optimised, effective and efficient way. Of equal importance, is an understanding of what motivates and inspires the people who are building your business. If you are able to achieve results through your skill of managing and motivating people, you’ll be a highly sought-after individual – and if you’re a business owner, there is no doubt your venture will go from strength to strength.

2. Financial skills

Most firms are happy for their business managers to have basic financial skills, however, if you want to be the best in your field you’ll make acquiring in-depth financial skills a priority. Without strong financial knowledge, you’ll quickly find yourself falling behind. Furthermore, for employees and entrepreneurs to maintain a competitive edge in today’s times, they need to ensure that they’re moving with technology. In relation to business management, you may want to consider supplementing your traditional financial skills with digital technical ability.

3. Operations management

Yet another important skill is that of operations management. In whichever role you find yourself in, you’ll undoubtedly be called to streamline business processes in line with business objectives. While you can rely, to a degree, on your strong management and leadership skills, it’s imperative that you broaden your operational skill set by refining your risk management abilities too. As a well-rounded business manager or entrepreneur, you should quickly be able to identify risk and find solutions to keep it to a minimum.

4. Marketing skills

Marketing skills are essential if you’re serious about establishing a competitive advantage. As an individual with the responsibility of building and positioning a brand; it’s critical that one understands the fundamentals of marketing. This includes the product lifecycle, the marketing mix, consumer decision making and the customer experience, to name a few.
Without strong marketing know-how, your venture will likely struggle to compete; which may, in the long run, set you up for failure.

5. Up to date industry-specific skills

In general, no matter what field you find yourself in, or which role, it’s in your best interest to continuously look for opportunities to acquire new skills which can be used within the operations of your role. Lifelong learning has become a standard in the professional world as it keeps one up to date with industry advances as well as technological advances pertaining to the specific industry. If you’re an individual who’s eager to learn; eager to improve and seeks to drive positive change within their role, you’ll certainly stand out from the crowd and excel in your professional career.

Soft Skills

Don’t forget that possessing soft skills is just as important as showing competency in the hard skills relevant to the business sector. Soft skills are a combination of people skills, social skills, communication skills, character traits and attitudes. A well developed social and emotional intelligence shows companies your ability to navigate their environment, your likelihood to work well with others and achieve goals.

If you’re ready to accelerate your career with a business management certification, register for a Business Management online short course today.

Are you new to business management?

business management

It’s always a good time to make smart career moves. Earning yourself a business management certificate or degree is a smart career move, and we’ll tell you why. Not only will it set you up for a great career in business management, but it will also open many doors for you in a variety of industries. Those in industries as diverse as construction, retail, health, tech and sales; all require a critical understanding of business processes and systems to successfully execute operations and improve efficiency. This naturally has an effect on the business’s bottom line. An understanding of business management also supports a move into the entrepreneurial sphere. With a degree or certificate in business management, your options span industries!

Responsibilities associated with business management

As a business manager working within a department or as a business owner, you’ll be responsible for overseeing the various departmental operations; ensuring that each component is running optimally. You’ll be required to devise plans and assign tasks accordingly within the team; manage workflow, adjust operational structures and find solutions for areas of concern. You’ll be expected to make sound financial decisions that are in the best interest of the business, including the drawing up and management of budgets and various financial operations.

Average annual earnings within the business management field

Yet another great reason to pursue a career in business management: earning an above average annual income. According to PayScale, South Africans working within the field, in a:

Occupational level Average annual income
Entry level (0-5yrs) R298.000
Mid-career professional (5-10yrs) R510,000
Top-end professional (10-20yrs) R536,000

Skills required to pursue a successful career in business management

It’s incredibly difficult to secure a well-paying business management role with growth potential, without a solid academic background, and at least some working experience either in the field or in a role which exposes you to some or all of the elements involved in business management. You should consider either obtaining a degree in the field or enrolling in a course which will set you up for a promising career in business management. You will need to have acquired the following skills in order to secure a job in the field:

  • – Strategic and operational planning, as well as drawing up competitive strategies
  • – Strong management and leadership skills
  • – The ability to build high-performance teams and create a positive organisational culture
  • – Financial management skills
  • – Strong marketing skills
  • – The ability to successfully manage operations

The Business Management online short course is the ideal course for aspiring business managers, as well as current managers or entrepreneurs who require the skills necessary to excel in their careers. On completion, you will learn the critical skills needed to enter into the field, including the ability to:

  1. – Demonstrate the ability to analyse and improve overall business effectiveness
  2. – Discuss the role of marketing and its role in achieving organisational goals
  3. – Demonstrate an understanding of modern management and leadership approaches
  4. – Discuss the role of financial management and budgeting in relation to business effectiveness
  5. – Earn a Business Management short course certificate

Ready to begin your prosperous career in Business Management? Enrol in a Business Management online short course facilitated by MasterStart, to take your first step in career development.