Owning_A_Small_Business

Owning A Small Business Owning a wine shop, as with any small business, requires a lot of time a dedication. There are many skills required some of which can be learned in a college classroom, others come from personal experience and the advice of others. The most important skills needed for this job are the ability to satisfy customers (knowledge of the product, communications skills, etc.), marketing (Creating desirable image and public awareness), creating customer loyalty (share of customer, creating return business) and the ability to efficiently run your business (Break-even Analysis, making budgets and forecasting, Gross Profit margin). Secondary skills that are needed include delegation, management skills (the ability to surround yourself with the right people to be successful, getting most out of your employees, creating feelings of loyalty and dedication, Inventory control) There are multiple math skills required in owning and operating a wine shop. Most of them revolve around basic math skills but very important to the success of the business. One of the most important is the ability to mentally figure out discounts and markups quickly. This is very important when talking with clients. Another important skill is being able to figure out business, important, skills, time, profit, wine, very, product, over, out, much, marketing, margin, making, gross, customer, creating, ability, needed, inventory, forecasting, courses, yourself, tasting, skill, shop, share, sale, run, required, proper, productivity, price, prediction