Starting a business is no small undertaking. Having a great idea for a product, service, or business model is only half the battle. Setting up a business requires knowledge of various topics, especially if you don’t have the funding to hire a team to help immediately. You can learn some things on the job, but these are some valuable skills to learn before launching a startup.

Basic Business Finance

You don’t need a CPA license to start a business, but some basic business finance concepts and a plan for money management will help you stay on track and avoid racking up too much debt. Like it or not, managing finances is one of the most crucial aspects of business success, so it’s essential to have a plan to track expenditures, income, and other important financial metrics.

Public Speaking

When getting financing for your business and spreading the word about what it has to offer, there are often opportunities to provide a pitch to a large group of people. Being comfortable with public speaking and having the ability to craft a succinct summary of your business will be critical. If you aren’t comfortable speaking in front of people, consider partnering with someone who is.

Marketing Skills

Eventually, you might be able to hire a marketing manager. However, in the early stages, most startup founders have to manage their own marketing. Learning basic marketing principles, familiarizing yourself with major social media channels and search optimization, and creating some simple promotional materials will help keep your company up and running.

Project Management

There are many things to juggle when running a startup, and it’s easy for founders to get burnt out or drop the ball on something important. Having a solid organization system and setting reasonable deadlines for yourself is crucial. Project management skills help entrepreneurs run their businesses as efficiently as possible, and keep them focused on the most important projects.

While there are successful entrepreneurs out there who launched their businesses with minimal business skills, they are certainly the minority. Before committing to launching a startup, professionals would be wise to learn at least these essential business skills to help set them up for success.