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3 Business Management Skills Crucial for Self Employed Workers

Posted By Trevor Borden, Wednesday, August 7, 2019
Updated: Tuesday, August 13, 2019

A self-employed worker refers to anyone running a business which creates an income based on the persons independent work. It’s no secret that the population of US self-employed professionals, freelancers, and contractors is constantly growing.

The nature of work is changing, leaning towards flexible schedules, remote working, and the freedom to pursue a career doing what you love.

Those who are self-employed can often be the only person running their business. This means they are always responsible for making those key business decisions, no matter how difficult or challenging they may be.

There are three key abilities that those who are self-employed need to adopt, which are crucial to running a business. These all sit within business management skills:  

1. Time Management

Although modern technology has given us access to everything we need at our fingertips, it has also led to an increased amount of distractions we are exposing ourselves too.  

Apps and devices may be great for monitoring our social media channels, responding to emails and creating meetings on-the-go, but it can also be a hindrance. A quick check on WhatsApp could end up losing you a precious thirty minutes, and clicking on Facebook can spiral into a complete loss of concentration.

You need to have rigorous time management skills because no one else is there to tell you off for it. Successful business management includes managing your time appropriately, like meeting deadlines, producing the best quality work, and being responsive to communication. If you struggle with time management, you may find yourself working late, which can affect your health.

2. Research and analysis

When you work for yourself, you can’t rely on anyone else to research into business ideas, rates or packages which your company needs.

You need to be the one who can dive deep into research and analyze all your options before making big decisions. All company policies must be chosen by yourself, whether that be insurance, company accounts, and even utility bills that your office space needs.

For insurance, allocate time to look at specialist insurance covering your exact business type. Then, search for the best rates. For example, if you specialize in pressure washing, then it’s pressure washing insurance you need to be looking into and researching the best deal for you.

Strategically put the time in for researching the best deals across every outgoing you need to spend. At the same time, you need to be accountable for doing this efficiently, and not wasting time by browsing repeatedly.

3. Interpersonal Skills

Even though you may work for yourself, it doesn’t mean you won’t be expected to communicate with others. In fact, most businesses rely on customers or clients to generate income.

The quality of your interactions are key to the long-term success of your business, so make sure you are fully competent with this. This doesn’t just cover being personable and approachable; it’s about having the power to negotiate, be firm and reasonable, and being able to put all communications effectively into writing.

Alongside the three listed above, the desire to always want to learn more and thrive within your business area is important. With any of these skills, your business management progress will slip, and cracks will begin to show.

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