How to Sharpen Your Business Skills in 2021

This is something that many business leaders are doing now as a way to help their company to bounce back from the pandemic not to mention the impact that Brexit could have on various different industries. Read on to discover a range of ways to sharpen your business skills this year and how it could benefit both you and your business.

Read Blogs and Participate in Online Communities

The internet can be a fantastic resource for entrepreneurs in today's day and age as there are so many excellent blogs available that can teach you how to excel in a modern business world and overcome common challenges. On top of this, there are many brilliant online communities (such as Reddit) where you can communicate with other business leaders and learn from them (as well as network).

Listen to Podcasts

Similarly, podcasts can be a terrific way to learn and sharpen your business skills with there being many highly regarded business podcasts that cover a wide range of different topics and have special speakers. The great thing about podcasts is that you can listen to them while on the move, whether you are cleaning your house, working out at the gym or commuting to work.

Take an Online MBA Michigan Course

For those serious about developing key business skills, an online MBA Michigan course would be an excellent step to take. An online MBA Michigan program will teach you all that you need to know to develop corporate strategy, lead a team and find success in a modern marketplace. An online MBA Michigan program can be studied entirely online so it can be easy to fit into your schedule, plus the online MBA Michigan program can be taken either as an accelerated program or a part-time path for those with a busy schedule.

Read Books

There are endless books that you can also read to sharpen a wide range of business skills and this includes both new and old books. It should not be too challenging to find a highly rated book for an area of business that you are interested in or even an autobiography from a successful business leader that you can learn from.

Learn From Great Leaders

Leading on from this, there are also many great leaders that you can learn from too. Obviously, there are many business leaders that you can learn from, but you might also find that there are other leaders throughout history who you can learn from, find inspiration from and apply their philosophies to your own company (and life). A few leaders that are worth spending some time researching include:

• Martin Luther King Jr.

• Abraham Lincoln

• Julius Caesar

• Winston Churchill

• Gandhi

Find a Mentor

For inexperienced business leaders, having a mentor in your corner can be immensely helpful. The world of business can be daunting and many people make similar mistakes, but when you have someone with experience in your corner, it can help you to avoid these mistakes - you can receive expert advice, guidance and support and even benefit from their large professional network. You might be able to find a mentor in your place of work, through a networking event or through joining a mentoring programme.

Identify Your Weaknesses

Identifying and working on any weaknesses that you have is one of the fastest and most effective ways to improve as a business leader, but you also need to be aware that it is also one of the hardest undertakings. Taking a long hard look in the mirror to work out where your weaknesses are is not easy and can be challenging, plus weaknesses can also be hard to improve on and could require stepping out of your comfort zone. As an example, public speaking is a common weakness for many people and one that can be improved through courses, training and practice - it will be hard, but ultimately this is an incredibly effective way to sharpen your skills and become better-rounded.

Ask for Feedback

It is not always obvious what your weaknesses are and those around you might have ideas for ways in which you can improve your business skills. Again, it is not easy to ask others to provide their feedback on your performance and it can be damaging to your ego, but as above, it is one of the most effective ways to improve your abilities. Not only this, but asking those around you can be helpful for creating stronger bonds, creating a culture of support and self-improvement and showing that you value the opinion of those around you.

Learn to Delegate

One skill that many business leaders lack, which could be holding them, the company and their team back is the ability to delegate. Many business leaders want to retain complete control and be involved with every process, but this can be stressful, time-consuming and stops you from looking at the big picture. Instead, you need to learn to delegate so that you can then focus on other areas, perhaps study for an online MBA Michigan course and make sure that you are steering the ship in the right direction while showing that you trust your team.

Improve Communication Skills

An online MBA Michigan course will teach you the knowledge and skills needed to excel in the business world, but this will not get you very far if you do not have good communication skills. Those that reach the top and find success in business are those that possess excellent communication skills, including speaking, listening and written communication skills. You will know how to charm people, project and inspire confidence and maintain strong relationships with everyone that you meet and this can make a big difference to your personal success and the success of your business.

Improve Health and Wellbeing

Many business leaders neglect their own health and wellbeing, which could prove to be costly and negatively impact just about every aspect of your life. When you do not look after yourself, it can lead to burnout - you can lose your passion for your work and it can have a negative impact on your personal life and relationships. While you certainly need to have a strong work ethic and be committed, you also need to know the importance of taking time off and enjoying your free time. You must also maintain a healthy lifestyle at all times, including getting enough sleep, regular exercise, a healthy diet and finding ways to de-stress in your free time. When you improve your health and wellbeing, it can improve your mood and performance at work, give you more energy for things like studying for an online MBA Michigan program and help to inspire others around you.

Plan Ahead

Success in business is about looking ahead and making plans. This is why you always need to be planning ahead, keeping an eye on the big picture and thinking about different scenarios. As a business leader, you need to have a vision and plans for the future and to guide the business, but you also need to recognise that not everything will play out as expected. This is why you need to consider different possibilities and plan for each of these as well as have protection in place for your company.

Improve Financial Intelligence

Even with an online MBA Michigan degree and a great business idea, this will not get you very far if you are not intelligent with money. Smart money management is one of the most critical skills for a business leader but also an area that many struggle with, often because they were not taught financial management from a young age. You need to learn about the best ways to manage and grow your own personal wealth, as well as how you can manage your company finances, which should include keeping costs low without negatively affecting the business, paying tax and keeping accurate books. There are lots of great resources online for learning about personal and business financial management and this can make a huge difference both to your life and business.

Take Risks

In business, you need to be willing to take risks, otherwise you will end up treading water and eventually losing out to a competitor that was willing to take a risk. Obviously, you will want to do all that you can to mitigate the risk and this can be done with research, data and planning, but you still need to be able to take the plunge as this is how you grow professionally, take the business forward and find success. There will be times when a risk backfires, but when you frame these as learning experiences as opposed to setbacks, then this should not hold you back and could actually end up being a positive. All of the biggest and most successful business leaders will have made multiple mistakes throughout their career, but they will always learn from these without dwelling on them and not let a mistake stop them from making the next big decision.

Surround Yourself With Positive People

When looking to improve yourself, turn weaknesses into strengths and make positive changes. Also, you need to be surrounded by the right kind of people. Those who are negative will always hold you down and stop you from fulfilling your potential, so instead you need to focus on the people around you that are positive, inspirational and supportive. This is not limited to the people in your professional network either as having positive people in your personal life can make a huge difference to your success and encourage you to reach for the top, take risks and improve yourself.

Find Ways to Motivate Yourself

A great business leader is one that is always able to keep themselves motivated no matter how things are going. When you are able to stay motivated, you will be able to perform to a high standard every day, inspire others and find the energy for self-development and improvement both at work and outside. Everyone is different when it comes to motivation, but a few of the best ways to keep yourself motivated include setting goals and targets, leading a healthy lifestyle, finding inspiration and breaking down tasks into smaller steps.

Develop Critical Thinking Skills

As you will learn when taking an online MBA Michigan program, business is ultimately about decision-making. Every single day, as a business leader you will be making both big and small business decisions that can have a big impact on your company. You need to be able to make the right decisions by quickly analysing and making objective decisions without emotion, backed up by data and research, which can be done by developing your critical thinking skills. If this is an area that you struggle with, it is certainly worth taking the time to develop these skills as it could make a big difference to the success of your company and even help in other areas of your life, too.

Stay Current

You also need to be able to stay current with what is happening in your industry and in the wider world so that you can adapt, modernise and strategise. New global and economic events, technological developments, consumer trends and challenges are constantly emerging, which means you must be familiar with these in order to find the best ways to guide your business to success.

The advice in this post will hopefully empower you to sharpen your business skills in 2021 and improve both your personal performance and the performance of your company. There is always more that can be done in terms of learning and developing new skills, but you need to know the best ways to improve for the best results and this post should help you to achieve this.