A sound investment requires a sound idea and a bankable proposal that is well thought out on the basis of hard data. When hiring professionals, investors pay special attention to skills that can illuminate the hard data. With the help of industry experts like Neil Patel, Gennady Barsky, and Susan Weinschenk, we present the top 5 most bankable skills that investors and entrepreneurs keep a sharp eye on.
Automation and smart algorithms are slowly picking up the pace in various industries. Investor Gennady Barsky, who happens to be an innovative investor himself, suggests that investors look for individuals who have a good understanding of algorithms and programming since a lot of business and products require software support.
Even customer relationship management (CRM) has a dedicated online platform that takes care of all of its technical dimensions. It includes a feature called triggers, which requires individuals to come up with an algorithm to solve a certain problem.
According to Susan Weinschenk, the UX Strategy Chief of Americas Human Factors International, developers and investors waste 50% of their time and money in reworking and rearranging their projects. The problems that call for such changes can be weeded out during prototyping, by paying special attention to the UI and UX design.
Moreover, there is also the fact that ‘the first impression is the last impression’. An attractive UI will attract more customers/investors towards your product.
Business analytics and intelligence
The most important aspect of any business is how cost-effective it is. A profitable investment needs to have a minimum input and an unlimited output. The gap between an investment and the ROI (return on investment) should be as wide as possible. Prof Nicolas Glady of ESSEC Business School explains that business analytics is important to measure the performance of entrepreneurship and to create effective business strategies.
Entrepreneurs and investors are always on the lookout for good business analysts who excel at problem-solving and critical thinking. Investors need help visualizing their business model so they know what risks they can face. On the other hand, business intelligence operatives bring news about the competitors and ongoing market trends that may benefit the organization. They devise ways to take advantage of a certain situation or minimize backlash of a failure.
The bubble of digital marketing has quadrupled in the last decade. Traditional marketing is slowly losing its grip on customers. The World Wide Web is a much more lucrative place for businessmen and investors due to its transparency and instantaneous operations.
Bestselling New York Times author Neil Patel says, “The Internet is too accessible for consumers. Other mediums can’t compete. Everyone likes to get a good deal, so customers conduct research before they make a purchase.” He adds, “If your customers can’t find you, your products, or your services online while they are conducting research, they will find someone else. It’s that simple.”
Gennady Barksy suggests that social media marketing is imperative during the early stages of a startup. Social media tactics manage to increase the reach of a certain service or product within days, or if it becomes viral, maybe hours. This is why investors look for the best digital marketers and social media experts in the market.
Big data and data mining
Big data professionals help their company store large amounts of data on low costs. Businesses are able to scrutinize and act upon information promptly, thanks to instant analysis capabilities and in-memory analytics of popular big data platforms like Hadoop.
Big data can help comprehend the market conditions that have been mined and organized by data miners. They discover patterns and formulate ways on how that pattern can be used to benefit the organization.
Would you like to add more to this list? Let us know in the comments!