By: Ryan Malone
Ana Avaliani of the Royal Academy of Engineering discusses why it is critical that we close the business skills gap to drive engineering enterprise.
You might have a great engineering innovation, but do you have the skills to turn it into a successful business? This is a very common challenge for the engineering startups we work with at the Enterprise Hub, especially among businesses born out of academia.
Business acumen is a crucial component for any successful venture, yet recent research from the ScaleUp Institute shows us that many entrepreneurs lack these essential skills. The good news is that these enterprise skills can be learned.
Ana Avaliani at a Enterprise HUB Showcase with Hub member Atif Syed
From starting a business to scaling up, an ability to lead is vital to successfully navigate the business world. Leadership skills are often overlooked by founders looking to grow a business. When asked to rank in order of importance, engineers highlighted access to funding and customers above leadership.
Yet what many engineers fail to recognise is that developing leadership skills can be key to overcoming many concerns related to their businesses. They underpin everything from the ability to make a knock-out presentation to securing a new round of funding, to the strategy and planning that can open doors to new markets.
Here are five essential skills for which leaders often seek training through our SME Leaders programme:
The Royal Academy of Engineering’s Enterprise Hub has always recognised that good business and leadership skills are essential when it comes to growing a successful engineering and technology company.
That’s why we have set up our SME Leaders Programme to provide up to £10,000 towards the cost of a training course to develop leadership skills of business leaders in areas such as sales, marketing, HR and regulation.
This is supported by crucial leadership coaching and mentoring and an extensive network of experts and investors – ensuring that business leaders emerge with the necessary skills, confidence and contacts to successfully scale up their businesses.