What Skills Do What Skills Do Entrepreneurs and I Entrepreneurs and I

Need to Guarantee my Need to Guarantee my Success?Success?

Introduction to BusinessIntroduction to Business

Entrepreneurship Entrepreneurship

Basic Skills are a MustBasic Skills are a Must

Though businesses and the people Though businesses and the people that run them differ there are that run them differ there are common skills that can be found in common skills that can be found in each business owner…each business owner…– CommunicationCommunication– MathMath– Problem SolvingProblem Solving

Definition of SkillDefinition of Skill

Webster defines Skill as a Webster defines Skill as a DEVELOPEDDEVELOPED PROFICIENCYPROFICIENCY or dexterity in some art, or dexterity in some art, craft, or the like; deftness in execution craft, or the like; deftness in execution or performance; a trade or craft or performance; a trade or craft requiring special training for requiring special training for competence or expertness in its competence or expertness in its practicepractice..

The key word is developed or learned.The key word is developed or learned.

1. Communication Skills1. Communication Skills

1.1 Writing Skills1.1 Writing Skills– Business people must be able to Business people must be able to

effectively communicate to: customers, effectively communicate to: customers, suppliers, and employees.suppliers, and employees.Good writing communicates ideas clearlyGood writing communicates ideas clearlyBy being positive/persuasive and by By being positive/persuasive and by

convincing the readers that they should convincing the readers that they should accept what is written.accept what is written.

Three C’s of communication…Clear, Concise, Three C’s of communication…Clear, Concise, and Coherent.and Coherent.

GENERAL STANDARDSGENERAL STANDARDS

1.1a 1.1a Effective LettersEffective Letters (written skills)-solicit (written skills)-solicit business, respond to clients or negotiate.business, respond to clients or negotiate.– Key ALL CorrespondencesKey ALL Correspondences– Spell ALL Names correctly with correct addressSpell ALL Names correctly with correct address– Must be DatedMust be Dated– Use appropriate names and titlesUse appropriate names and titles– Be direct and positiveBe direct and positive– Be PersuasiveBe Persuasive– Avoid difficult languageAvoid difficult language– Be politeBe polite– Use appropriate and tasteful closingUse appropriate and tasteful closing

Writing Letters: Formatting a Writing Letters: Formatting a Business LetterBusiness Letter

Standards (general accepted rules)Standards (general accepted rules)Start at the Date Line (2 inches from the top)Start at the Date Line (2 inches from the top)

Return four timesReturn four times– Inside Address (receiver's address)Inside Address (receiver's address)

Return two timesReturn two times– Greeting Title and Last name (or business title)Greeting Title and Last name (or business title)

Return two timesReturn two times– Open punctuation after the greeting (optional)Open punctuation after the greeting (optional)

– Body of the letterBody of the letter Single spaced and aligned at the leftSingle spaced and aligned at the left Double space between paragraphsDouble space between paragraphs

– Closing (complementary to the letter) appropriateClosing (complementary to the letter) appropriate Return four timesReturn four times

– Type the senders name (full and appropriate)Type the senders name (full and appropriate)

Common Errors in Letter WritingCommon Errors in Letter Writing

Spelling and Spelling and GrammarGrammar

Address errorsAddress errors Formatting errorsFormatting errors Signature does not Signature does not

appear on the appear on the documentdocument

Do not start a letter Do not start a letter with, “I am writing with, “I am writing this letter this letter because….”because….”

Informal use of Informal use of languagelanguage– No contractions or No contractions or

abbre.abbre.– Yas, cuz ain’t, ruYas, cuz ain’t, ru

Failure to proofreadFailure to proofread

Personal Letter vs. Business LetterPersonal Letter vs. Business Letter

Personal LetterPersonal Letter InformalInformal ConversationConversation EntertainingEntertaining Writer and reader Writer and reader

relationshiprelationship

Business LetterBusiness Letter Formal DocumentFormal Document Specific purposeSpecific purpose

Inform, persuade Inform, persuade and remain and remain positivepositive

Follow the three Follow the three C’sC’s

Mailable Copy Mailable Copy (without errors)(without errors)

Effective CommunicationEffective Communication

1.1b 1.1b Effective Memos- Effective Memos- short written form short written form of business communication with a set of business communication with a set standard.standard.– To:To: ReceiverReceiver– From:From: SenderSender– Date:Date: Origination TimeOrigination Time– Subject:Subject: Topic of the documentTopic of the document

Anyone that does business with or within Anyone that does business with or within the business may get memosthe business may get memos

Writing Memos: Formatting a Writing Memos: Formatting a MemoMemo

Standards for memo writingStandards for memo writing– DateDate:: (2 inches from the top)(2 inches from the top)

Return twiceReturn twice

– ToTo:: Receiver name and titleReceiver name and titleReturn twiceReturn twice

– FromFrom::Sender and titleSender and titleReturn twiceReturn twice

– SubjectSubject: Topic overview: Topic overviewReturn twiceReturn twice

– Body left aligned. Three C’s are strictly Body left aligned. Three C’s are strictly enforced. Memos are used to discuss policies, enforced. Memos are used to discuss policies, procedures or assign tasks.procedures or assign tasks.

Effective CommunicationEffective Communication

1.1c 1.1c Effective emailsEffective emails -electronic -electronic forms of communication similar to forms of communication similar to memosmemos

Three C’s should be enforced.Three C’s should be enforced. Spell check and proofread carefully Spell check and proofread carefully

before sending.before sending.

CommunicationCommunication

2.1. Speaking skills2.1. Speaking skills – – verbal communication, via verbal communication, via phone or person to person phone or person to person will occupy most of a will occupy most of a businessperson’s time.businessperson’s time.

– How well you present How well you present

yourself will have a huge yourself will have a huge impact on peopleimpact on people..

2.1a 2.1a TelephoneTelephone – Speaking on a telephone – Speaking on a telephone it is important to speak clearly talk directly it is important to speak clearly talk directly into the receiver.into the receiver.– Be CheerfulBe Cheerful– Always Speak PolitelyAlways Speak Politely– Think about what you want to sayThink about what you want to say– Take notes to get names, dates, figures Take notes to get names, dates, figures

correct (repeat spelling, dates and correct (repeat spelling, dates and figures for clarification)figures for clarification)

CommunicationCommunication

CommunicationCommunication

– Limit distractionsLimit distractionsClose the door to your officeClose the door to your officeTurn off TV/RadioTurn off TV/RadioTake notes have necessary items close at Take notes have necessary items close at

handhand

– Take NotesTake NotesDates, Times and NamesDates, Times and Names

– Repeat them for clarificationRepeat them for clarification

– Talk only with the person on the Talk only with the person on the phonephone

FYI about those CELLSFYI about those CELLS

– If you are on a Cell Phone If you are on a Cell Phone connection tell the other party connection tell the other party (Limit the distractions and sidebar (Limit the distractions and sidebar conversations) not always conversations) not always appropriate but does add appropriate but does add convenienceconvenience

CommunicationCommunication

2-1b 2-1b Face-to-FaceFace-to-Face whether it be a first-time whether it be a first-time meeting or routine… meeting or routine… – Confidence is very importantConfidence is very important– Shake hands Shake hands – Make eye contact (dependent upon culture)Make eye contact (dependent upon culture)– Show interest in the conversationShow interest in the conversation– Speak clearly and slowlySpeak clearly and slowly– Pay attention when others are talking (turn off Pay attention when others are talking (turn off

cell phones, pagers, walkie talkie services)cell phones, pagers, walkie talkie services)– Always remain politeAlways remain polite

CommunicationCommunication

3.1 Listening-3.1 Listening- most most people do not people do not listen closely listen closely enough to what is enough to what is being said most being said most people hear what people hear what they want to hear.they want to hear.

To Improve Listening SkillsTo Improve Listening Skills– Focus your attentionFocus your attention on the person that on the person that

is speaking.is speaking.– Resist the temptation to interrupt…Resist the temptation to interrupt…think think

about what the person is saying.about what the person is saying.– When finished speaking When finished speaking ask some ask some

questionsquestions to clarify points (make sure to clarify points (make sure you understand)you understand)

– Take notesTake notes on points to confirm what on points to confirm what you hear. (ask the speaker to review the you hear. (ask the speaker to review the notes.)notes.)

CommunicationCommunication

CommunicationCommunication

Pay attention and try to concentratePay attention and try to concentrate

Limit distractionsLimit distractions– no fidgetingno fidgeting– no talkingno talking

Set up and take notesSet up and take notes

Knowing when not to talk is a very importantKnowing when not to talk is a very important

Problem SolvingProblem Solving

Problem SolvingProblem Solving

4.1 Problem solving skills4.1 Problem solving skills are a are a necessity in business practices.necessity in business practices.– Whether it beWhether it be

Customer problemsCustomer problemsEmployee problemsEmployee problemsEquipment problemsEquipment problemsCreditorsCreditorsGeneral office policiesGeneral office policiesMaintenance and operationsMaintenance and operations

Some business people refer to this as “putting out fires”

Problem SolvingProblem Solving

FORMAL PROBLEMFORMAL PROBLEM solving models help solving models help business people and business people and business work through business work through difficult issues in a difficult issues in a logical manner.logical manner.

Usually Usually conducted by conducted by one personone person (manager (manager or business owner)or business owner)

1.1. DefineDefine the problem the problem

2.2. GatherGather information information

3.3. IdentifyIdentify Various Various solutions to the solutions to the problemproblem

4.4. Evaluate the Evaluate the alternativesalternatives and and selectselect the best the best alternativealternative

5.5. Evaluate the action.Evaluate the action.

Problem SolvingProblem Solving

4.1a Formal Problem Solving4.1a Formal Problem Solving – has a profound affect on ALL those has a profound affect on ALL those

involved.involved.

– Someone is “NOT” going to be happySomeone is “NOT” going to be happy with the consequences when the with the consequences when the decision is rendered.decision is rendered.

– This method can be extremely time This method can be extremely time consuming and costly to the business.consuming and costly to the business.

Problem SolvingProblem Solving 4.1b 4.1b GROUP METHODGROUP METHOD —sometimes you —sometimes you

may want to include others in the decision may want to include others in the decision making…making…

Most Common MethodMost Common Method– BrainstormingBrainstorming

ModeratorModerator—leads the discussion sets the rules and —leads the discussion sets the rules and umpiresumpires

ReporterReporter-takes notes so everyone can see ideas-takes notes so everyone can see ideas

ParticipantsParticipants-everyone should have a voice-everyone should have a voice

Problem SolvingProblem Solving

Rules for BrainstormingRules for Brainstorming– Ideas are not to be criticized or commented on Ideas are not to be criticized or commented on

until all ideas are mentioneduntil all ideas are mentioned

– After the ideas are exhausted Moderator will After the ideas are exhausted Moderator will begin a discuss about each of the ideasbegin a discuss about each of the ideas

Evaluate and comment on each itemEvaluate and comment on each item Set guidelines for the discussionSet guidelines for the discussion

– Idea Guidelines Idea Guidelines Must be practicalMust be practical Implement easilyImplement easily Be acceptable by a majority Be acceptable by a majority

Problem SolvingProblem Solving

Team Decision MakingTeam Decision Making– All members of the team are responsible All members of the team are responsible

for coming up with ideas, independently, for coming up with ideas, independently, to solve a problem.to solve a problem.Members are accountable to one another Members are accountable to one another

the team earns (losses) benefits according the team earns (losses) benefits according to team member involvement.to team member involvement.

Team decision which is implemented earns Team decision which is implemented earns and shares the benefits from the solved and shares the benefits from the solved problem. (profit sharing)problem. (profit sharing)