Technicals Skills of an Entrepreneur: Essential Knowledge
Molly Hitchens studied business for years before launching her career as a journalist and analyst specializing in original and innovative business planning. She shares her expertise through her work with The Idea Trader as well as through in-person speaking engagements at universities around the country.
Staying on the top or at least surviving in today’s business world is hard work due to an endless number of competitors on the market.
Successful entrepreneurs use many strategies, tactics, and techniques to move their companies forward and boost their business growth worldwide. Most importantly, they possess some powerful technical skills that you can master as well.
Read on to learn more about the technical skills of an entrepreneur.
1. Content Marketing
Although this skill might sound obvious, the majority of new entrepreneurs forget about content marketing. With a growing $200 billion dollar industry, content marketing still plays an important role in entrepreneurship.
Content marketing aids in driving a profitable customer action, cultivating customer loyalty and building trust. It works with social media, email marketing, and SEO, and is a top technical skill for the success of your business.
Vivien Marafko on Marketing and Advertising
No matter what an entrepreneur plans on selling or providing, marketing and advertising are absolutely crucial to achieving success, and that idea has been substantiated by Vivien Marafko, a marketing and advertising expert.
Marakfo even worked with McCann, perhaps one of the most widely-known advertising agencies around. In fact, if you tuned into the AMC hit show Mad Men back in the day, you may remember McCann coming into play in a very big way.
Specifically, Marafko helped to execute a complex plan to boost the growth of the mass retail chain Aldi. This led to Aldi outpacing even Walmart in terms of growth, and the team's work on this account earned a number of awards as well.
But for any entrepreneurs getting ready to delve into marketing their own business, there's one very important thing to keep in mind: it's a very fast-paced atmosphere. Thankfully, many entrepreneurs are accustomed to high-pressure settings. Likewise, marketing pros like Marafko have simply learned to operate well when the pressure is on:
"Nothing compares to the pace of working in advertising. It’s relentless, and the stakes are high. It was definitely a lot of pressure, but that made excelling feel even better."
The other major piece of advice that Marafko gave us has to do with keeping pace. If you want to do it well, you need to be highly aware of the current norms and techniques:
"Marketing and advertising are constantly evolving and it's crucial to stay in the loop of all new trends to help clients deploy their marketing dollars in the most effective way."
Even if you're brand new to marketing, having just a basic understanding of what works and what people respond to will immediately benefit your entrepreneurial endeavors.
Search engine optimization, best known as SEO, is a must-have technical skill. SEO tactics and strategies will significantly speed up your startup growth.
Not only is SEO about Google optimization and getting the first blue link, but it’s also about learning other engines and the ways people are searching these days.
For instance, if people are searching for apps that you also create, you should strive to rank in the app stores like Apple. If you’re trying to spread your videos or podcasts, you should rank where potential customers search for such things.
Avoid using outdated SEO tactics, as it can get your business website in the penalty box, and thus people won’t be able to find it. Take SEO seriously and find an expert or courses to understand the modern basics.
Want to turn your website visitors into your loyal customers? Learn the essentials of CRO, or conversion rate optimization. This technical skill is as crucial as SEO. But unlike SEO, CRO is usually ignored.
CRO helps to increase your sales and overall revenue by encouraging your website visitors to take actions that will help your startup grow, especially after the incubator stage. CRO is also useful for those whose businesses stopped growing after enormous success in the beginning.
While CRO tactics are difficult to understand, you can start with the major principles. You need to learn your website visitors and know your customers, first. This will help you to come up with the tactics that will help you convert your potential customers into loyal ones.
4. Social media
You already know one of the biggest problems of the nation today – people spend more time on social media than in real life. Even though this obsession is no fun, many entrepreneurs use social media to promote their businesses.
Facebook, Instagram, Twitter, and LinkedIn are just a few popular social networks that you can monetize.
The methods and algorithms of social media keep changing, though. It’s important that you stay aware of any changes to be able to adjust to them. Not only do social media sites help to get the word out, but it's also a cost-free way to grow relationships with your future customers.
Content marketing, CRO, SEO, and UXD complement each other. User experience design, or UXD, helps to increase the satisfaction level of website visitors by enhancing the accessibility, usability, and interaction between the product and the user.
Learning the basics of UXD will help you understand user behavior and motivation and attract new users by designing more effective digital experiences.
If your website creates irritation, intimidates, or confuses your users, you have little to no chance of building a loyal customer base.
Apart from concentrating on user needs, you should also learn to balance business goals with technology opportunities or constraints. A product will never succeed without a growing business, but a business will never see success without a loyal customer base.
Whether you’re a new entrepreneur or you’re an entrepreneur on a very tight budget, learning how to write will save you lots of cash.
Excellent and sincere content written manually rather than with the help of software will help you gain more loyal customers and build trust.
An additional bonus: writing improves creativity and analytical thinking. When writing, you can come up with some new business ideas or ways to improve your products or services, for instance.
It may seem easier to hire a freelancer to write content for you, but finding the right writer might take time and cost you money. Unless you’re super busy and rich, take time to write your first content – be it a blog post or email. Successful entrepreneurs know how to write proposals, business plans, emails, and even letters.
This helpful article will get you started.
7. Email Marketing
Finally, email marketing is perhaps the most underrated technical skill that entrepreneurs don’t pay enough attention to. Today’s email marketing landscape keeps focusing on expanding loyalty programs, along with personalization with a concentration on quality over quantity.
If you strive to build a loyal customer base, you need to personalize your email content based on the data you capture from email preferences, purchase histories, and browsing. It requires a lot of time but attracts a lot of customers.
Thanks to email marketing, you can gain the trust of your subscribers and frequent customers by providing detailed product content with relevant pictures and videos in your emails.
You can also include customer testimonials to offer the best you have. Ensure your emails aren’t boring, though.
Just because people subscribe to your emails doesn’t mean they open and read them all. Find out a trick to get your subscribers in the habit of reading your emails. It can be a promo code, coupon, gift, or fun rebus or game related to the products or services you sell.
Even if you’re too busy to use these technical skills, knowing them is crucially important. Understanding the importance and the basics of each skill will help you outsource your tasks to professionals.
These skills can also help new entrepreneurs who have no money for hiring even a freelancer, getting them closer to success and growing their startup on their own.