What is the knowledge required to start a new business?

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There are 10 skills every entrepreneur should have at least a basic understanding of:

  1. Self-improvement. Starting a business is hard. And if your head’s not on right, you’ll go down in flames quick.
  2. Psychology. No matter what, you’re going to be dealing with people. You need to understand how they think and why they do the things they do.
  3. Communication. Written, verbal, visual… you’ve got to get your message across efficiently and effectively.
  4. Sales. Everybody’s a salesperson these days. Whether it’s trying to convince an employee to see your way of doing things or closing a multi-million dollar VC deal, you gotta sell.
  5. Leadership. Inevitably, people are going to work for you—or at the very least follow you. You need to know how to help and encourage them to produce the results you need.
  6. Marketing. Somewhat of an advanced form of communication, marketing is a skill that requires you to take as little resources as possible—time, money, manpower—and extend your message as far as you’re able.
  7. Design. Can’t pack gold in a water-logged shoebox and expect it to sell. Perception is everything, and good design makes for great products.
  8. Computer science. In 2017, this is not optional. You must know at least the basics of how computers function. I’d even go as far to say that you need to be able to build a basic website.
  9. Business. Of course, to start a business, you need to understand what a business is and how it functions.
  10. Money. Finally, the cursed greenback, scourge of all that’s good. But the buggers make the world go ‘round, so you need to understand economics, finance, the markets, all that good stuff.

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