We are now in 2023, yet another opportunity to hit some targets. Last year I once talked about how there is more than enough time. The 24 hours you have in a day is more than enough to do much. The reason why it mostly seems like it is inadequate is poor time management. That is actually one of the key competencies we are discussing today. Anyways, seeing 24 hours as too inadequate majorly stems from a lack of specific key competencies. Other than time management, there is a need for leadership skills. You also need sales and marketing skills. Leadership and sales, and marketing skills will not be my focus today. Instead, let us look at the following 6 key competencies you need for business success in 2023:
Goal Setting
It seems somewhat odd, right? Well, goal setting is a skill, a cardinal competency you must assimilate. It is not merely about saying you will do A, B, C, and D. Some people regard goal setting as that way and wonder why they are not achieving anything. Goal setting as a competency entails 3 core areas; of course, there can be more. These are prioritization, task management, and delegation.
You cannot do all things at once. Some things must come first and others later. It takes skill to master that seemingly simple process. You need to be able to master how to break down big tasks into smaller, systematic ones. That is what task management is all about. Then again, you cannot do all things alone. You will need to learn how to delegate. This year you will need to fine-tune your goal-setting cap – you will need it.
Time Management
‘Productivity is never an accident. It is always the result of a commitment to excellence, intelligent planning, and focused effort’ – Paul J Meyer. It is important to emphasise again that 24 hours in a day is more than enough. You must grasp how to plan, schedule and ultimately conquer your day, every day. Like Jim Rohn once said, ‘Either you run the day, or the day runs you’. Last year we did two book reviews that you need to check out. The two articles I did were on the books Atomic Habits and The 5 Am Club.
I know there are many resources out there, but these two books impacted me immensely. I have several times mentioned the term deep work. There is a book called Deep Work by Cal Newport; kindly check it out. It breaks down in detail the concept of deep work. The materials I have shared here will help make you a master in time management in 2023.
Financial Literacy
We are living in turbulent and mercurial times. If you are reckless with your finances, things might go south for you. At times unfortunate incidents can be caused by not understanding money. The sad reality is many people do not understand money at all. They think they do, but they do not. You see, most of what you know about money could be wrong. Formal education sometimes does not do justice to teaching you the real essence of finances. However, there are some vital lessons you can get from formal education.
For example, making and interpreting financial statements. I am often approached by people needing help drafting their business plans’ financials. Many people do not know how to draft balance sheets, profit and loss statements, cash flow statements, and break-even analyses, amongst others. It is high time you invest time and energy into increasing your financial literacy. You need it more than ever before in 2023.
Project Management
Over the years, I have underscored the importance of project management skills. I studied Project Monitoring and Evaluation in 2018. It was from that time that I appreciated the importance of skills in the domain of project management. Nowadays, there is what is popularly known as agile project management. It is defined as a project management approach premised on taking the project cycle through iterations informed by customer feedback. Agile project management entails envisioning, speculating, exploring, adapting, and closing. The customer-centric approach to business is no longer a luxury these days. Business competition is cutthroat. In 2023 study and even attain professional skills in project management. It will give your business a competitive advantage.
Communication
Today we shall conclude with the competency of communication. You probably have heard this countless times, but it is just too important. In university, most students did not take the Communication Skills module seriously. Yet you look around you and discover the world’s chaos majorly comes from poor communication. In business, especially in Zimbabwe, communication skills are lacking. If you can master this competency, 2023 can be a breeze for your business.
I usually tell my friends to take time to study the field of body language. You will be amazed by the universe of awareness it can open up to you. Master how to be an effective verbal communicator. That cannot be complete without active listening. It is appalling the many people in businesses who do not know how to listen actively. Empathy comes into the fold as well. The art of negotiation is another core area in communication. You cannot manage teams and handle customers effectively if communication is beyond you. You need to be a master communicator in 2023.
These are my 5 picks for key competencies you need for business success in 2023. If you regard this with an ordinary eye, you might think it all sounds cliché. If you are truly objective, you will draw some progressive insights from this article. Mastering these competencies involves a lot. Being competent means having sufficient skill, knowledge, ability, or qualifications. That means you must acquire information, put it to work, and also get professional certifications.
