As the world becomes increasingly digitized and connected, digital skills are no longer just a competitive advantage but a requirement across industries. In fact, a new report from the National Skills Coalition reveals that digital skills are required in a record-breaking 92% of jobs. These skills can be categorized as foundational, such as the use of mobile applications and Microsoft software packages, and industry-specific, which encompasses industries like real estate, retail, food service, and of course — business and entrepreneurship.
The same report also emphasizes the need for digital resilience, which involves continually learning and updating in-demand digital skills to adapt to your industry’s changing needs. Below are the skills that can help you grow your business no matter its size and scale, alongside ways to acquire and hone them.
Table of Contents
In-Demand Digital Skills for Entrepreneurs
Cloud Computing
Cloud computing, which involves hosting files, software, databases, and servers over the Internet, facilitates access to business resources anytime and anywhere. While it certainly saves time and money and enhances operational efficiency, embracing cloud computing shouldn’t just be about cost savings. Compared to traditional processes and in-person premises, knowing how to integrate cloud-based solutions into your business model cultivates the ‘soft’ values of innovation and agility.
Digital Marketing
Whether you own a brick-and-mortar business or a purely online brand, marketing via your website and/or social media helps increase your audience reach while also engaging your existing customers. A successful digital marketing strategy typically consists of content creation, search engine optimization, and native and pay-per-click advertising, so familiarize yourself with each specialization to effectively promote to your target audience.
Data Analytics
In this digital age, data is power. Learning data analytics allows you to gain insights from relevant business information like customer reach, sales, and performance by extracting trends, patterns, and statistics. Aside from using it to make more informed decisions on pricing strategies and marketing campaigns, you can also analyze financial data to improve your budgeting and cash flow.
Cybersecurity
While conducting business operations like bookkeeping, accounting, and marketing online improves productivity and efficiency, it can also expose your business to data privacy breaches. Thus, cybersecurity awareness through firewalls, encryption, and data backup and recovery is crucial to protecting sensitive business and customer information from hackers and malicious actors.
Ways to Update Your Digital Skills
Upskilling Programs
One of the most effective ways to upskill your capabilities is to join an expert-led training program for today’s most in-demand skills. LHH’s tech training is not only useful to professionals looking to improve their employability and career advancement but also benefits entrepreneurs in need of digital skills to bridge their knowledge gaps and grow their businesses. Such skills include data analytics for data-driven decision-making, data science to utilize historical data and make accurate forecasts, and product management to launch market-ready products and extend their lifecycle.
Free Online Courses
Even if paid upskilling programs do not align with your budget, there are tons of free online courses that equip you with industry-specific skills through lectures, reading materials, interactive tools, and even certification programs. For instance, in the jeweler industry, Jewelers Mutual Group offers free cyber education courses to help business owners establish a cybersecurity culture, respond to cyber threats and crimes, and improve regulatory compliance to data privacy and security.
Conclusion
In summary, the crucial digital skills among entrepreneurs include cloud computing for agility and efficiency, digital marketing for audience engagement and customer retention, data analytics for improved decision-making and planning, and cybersecurity for data privacy and security. Entrepreneurs looking to acquire these competencies and expand their skillset can tap into free and paid training programs, which essentially act as a worthwhile long-term investment.
