SKILLS

"Hard skills" are tied to your innate characteristics—things that make you, you. You may be a natural-born leader and have a knack for dealing with people; or you may be a free spirit, able to take a step back and look at the bigger picture. You could be a problem solver who relishes in a challenge, or an innovator with a pool of ideas swimming in your head. Regardless of what kind of person you are, there is always something you can bring to the table if you adapt yourself.

When starting your own business, it's important that you get to know yourself first—your strengths, weaknesses, limitations and potential. Someone with a carefree attitude is perfect in the face of stressful situations; however, if they don't rein in this attitude at times they might be lax with deadlines, ignore social rules and come across as unreliable to others. On the other hand, someone who is a stickler for the rules may be perfectly reliable and dependable, but they could face a different set of problems if they try to micro-manage the situation and people around them. It is important to have self-awareness—your strengths can turn into your weaknesses from time to time, so it is best to know your limitations. If you can do this, you may just get the breakthrough you are looking for.

"Soft skills" are the technical skills that you use at work. These skills are not innate and can be developed with experience and training. Some examples of soft skills include knowing how to use Microsoft Excel, understanding a balance sheet and being able to write catchy phrases for your website.

One of the major challenges of running your own business is knowing how to optimise your resources—namely your time and energy. A business's success could come screeching to a halt if the outdated computers break down or the bar licence gets revoked by the local authority... If you can manage your time effectively and keep track of all aspects of your business, you will be able to keep things running smoothly.