As a Millennial entrepreneur you need to invest in yourself. Whether you improve your language skills through a MCIE TESOL course or take a business course, building important skills will help you succeed. What skills do you need to succeed today? What every business owner needs today differs vastly from five or ten years ago.

Skill 1: Master Social Media

Today the world is online. You need a strong social media presence to reach customers around the globe. But this is more than having a splashy website. You need to be able to build your web presence online. You can either learn these skills yourself or hire a digital marketing expert to manage your social media presence. This can include:

• Managing social media accounts like Twitter, Facebook, LinkedIn, and Instagram
• Interacting with customers online
• Posting new original content
• Scheduling social media posts
• Search Engine Optimization (SEO)
• Handling privacy and security concerns online

Skill 2: Learn Cutting Edge Software and Technology 

Today an entrepreneur can’t expect to use the same software for more than two years. Updates, newer software programs, changes in popular social media platforms, increased use of mobile payments systems like Apple Pay and Google Pay, and more efficient point-of-sale (POS) systems change rapidly from year to year. You may need to hire an information technology employee to handle all of these changes, especially when significantly scaling your business.

Skill 3: Learn Multiple Languages

Learning a foreign language is important for every business person. You don’t have to teach English in Thailand professionally or grow up in a multilingual home to learn a foreign language. English, Mandarin, and Arabic are the most popular languages spoken in Australia. Any international entrepreneur should learn Chinese, Spanish, or Hindi to interact with customers globally.

Skill 4: Talent Scouting

Find other people that share your vision. Bring on board people that have the skills that you need for success. Choose trustworthy partners with experience and passion for your business. Build a strong core of diverse employees that complement your skills. As your business grows larger, continue to find employees that care about your mission.

Skill 5: Developing a Strategy

You need to develop a strategy for your business that is broken down either monthly or quarterly. The detailed SWOT (strength, weaknesses, opportunities, threat) analysis helps you organize your priorities and develop successful strategies for your marketplace.

Skill 6: Flexibility

Millennials value flexibility in the workplace. Whether offering employees flexible hours, the option to work remotely, or other telecommuting options, your business will adapt to the new talented workforce that values time more than money. Interestingly enough, you may find that offering these options reduces overhead costs like renting a large facility, transportation costs, and lowered employee productivity due to illness.

Skill 7: Financial Management

Learn the basics of managing your finances. This includes budgeting, developing new profitable products, assessing the competition, and handling the tax code. Many entrepreneurs will hire a financial professional to help them with this aspect of their business.

Learn these seven essential skills for guaranteed business success.