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Stellar people skills crucial to business success

Business leaders could fine tune their networking skills at industry events.

Interpersonal skills are important traits for business leaders looking to succeed, according to an expert.

Owning a business can be stressful for those who lack experience or confidence in their new venture or role.

Hiring staff, bookkeeping and training are just a few areas that may challenge new managers.

Jeff Elgin, a renowned franchise consultant, revealed key points that franchisers should consider in a column on Entrepreneur.

The benefits of opening a franchise could lead to financial rewards, if successful practices are followed.

Mr Elgin identifies that putting people first and creating "loyalty, value and trust through interaction with employees and customers" as contributing to success.

Achieving the right balance of professional and open communication between employees and customers could be challenging for new managers.

Developing interpersonal skills may be daunting for some, but the benefits are lasting for managers.

These may give them greater confidence when it comes to staff training, client communication and achieving other business goals.

Business leaders - such as owners or managers - may wish to attend industry events to fine tune their people skills and network.

Contacting your printing service to ensure that you have enough business cards for the event is another idea to consider. 

Networking with other franchisers and projecting a professional business image could result in making useful contacts and building a positive reputation for the company.