What knowledge is required to start a business is a questions most new startups ask themselves when starting a business. Here are 5 Tips to help you.

1.Sales and marketing

This requires knowing who your competitors are and how your product or services stack up. Who is your target market? You need to know a lot about Business operations like filling orders, inventory management, and customer service.

2. Book-keeping/Accounting

As business owner, you must be prepared to keep accounting books. The financial responsibilities in most cased begin before you open your business. A business owner must be able to do profit & loss projection; forecast cash-flow. and financial analysis.

3. Planning

As a Business owner, you need to make a realistic business plan. The plan needs to consider competitive analysis and Market research. It would be advisable to do a SWOT analysis to determine the viability of the Business.

4. Communication

Having an effective communications strategy is an essential skill in business. What is your communication strategy for cultivating employees, and attracting customers? How do you plan to communicate the viability of the business to investors and the media?

5. Customer Service Skills

As a business owner, you need to make time out to always be there for your customer, regardless of whether they have a complaint or compliment. This means you see each customer as a chance to do better and grow in your business.