![]() You should be capable of handling projects of any size and allocate resources based on priority. Project management: since you will be the first employee of your business, you will be taking care of a range of functions during the initial phase.Financial management skills are a prerequisite for starting your own business. Furthermore, you should have sound knowledge about how to secure investments, cash flow forecast and profit and loss projections. As a business owner, you must have the ability to make accurate forecasts and predictions. This is where the need to have good bookkeeping and accounting skills come into play. However, the story doesn’t end there it is essential for the business owner to ensure proper financial management once the business is running. Accounting skills: the foundation of a business is laid depending upon the feasibility of the idea and the seed capital available to put it into practice.
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