Successful business professionals typically rely on a variety of skills to thrive in their careers. Understanding these important skills and how to develop them is vital for recent graduates or those just starting their careers.

Consider the following regarding business skills:

  • Many business skills are described as soft skills, meaning they are transferable between jobs and involve personality traits, such as the ability to solve problems and communicate effectively.
  • These skills are especially important for business owners, entrepreneurs, and managers.
  • Some business skills, such as communication, are among the top requested skills that employers look for in candidates.

8 types of skills for business professionals

1. Analytical skills

The World Economic Forum (WEF) reports that analytical thinking is a key skill for 2025. In fact, 70% of employers surveyed by WEF described it as an essential skill.

Analytical skills help professionals:

  • Think critically and solve problems
  • Understand data
  • Identify trends
  • Conduct research

2. Communication skills

The ability to communicate effectively is a crucial skill in business. According to a survey from the National Association of Colleges and Employers, 96% of employers state that communication skills are the "most important career readiness skill." Communication skills that are vital for business professionals include:

  • Active listening
  • Communicating effectively through speaking and writing
  • Understanding body language
  • Adapting messages based on the audience, learning styles and other factors

3. Teamwork and team building

Efficiently managing and working within a team can be crucial to business success. Most work projects involve collaborating with others—whether it's within your department, with clients or other organizations. The ability to work well with others and solve problems is an important skill, regardless of your seniority level. If you're a new graduate or just entering the job field, you can use your experience working on group projects in college to show potential employers that you can collaborate well with others. This is important because NACE reports that nearly 80% of employers review resumes for evidence of a candidate's “ability to work in a team."

4. Project management

Business projects typically include timelines, budgets, milestones and clearly defined goals. Project management skills enable individuals in management positions to handle day-to-day tasks and track a project's progress.

5. Financial management

Financial skills—such as the ability to analyze the market, understand investment benefits and risks, and budget effectively—can be crucial to business success. Identifying factors that may negatively affect a company's financial health is valuable for financial planning.

6. Conflict mitigation

Conflict mitigation is becoming an increasingly important skill for professionals, especially in business sectors such as consulting and technology. Effective navigation of workplace conflicts can lead to successful collaborative environments.

7. Problem-solving and critical thinking

Businesses and business professionals will inevitably encounter problems. According to a survey of employers hiring new graduates, the ability to solve problems is an attribute that almost 90% of employers look for when reviewing resumes. Being able to solve problems, sometimes under pressure, is a key skill in business.

Critical thinking enables one to solve problems effectively by systematically gathering and analyzing information from various perspectives. It's also valuable for efficient problem-solving, as it can reduce potentially costly errors.

8. Dependability

Dependability, or reliability, is a skill that's important for all business professionals. Dependability can be demonstrated by many different behaviors, including:

  • Managing time and meeting deadlines
  • Prioritizing tasks
  • Being prepared for meetings

NACE describes these behaviors as traits of professionalism, and 89% of employers surveyed reported that professionalism is important for recent graduates. However, those same employers report that only 50% of new graduates are proficient in this ability.

How to develop and improve business skills

Business professionals often seek to acquire new skills, as this can help with career growth and unlock new opportunities.

A Workplace Intelligence study found 83% of employees consider improving their skills as one of their top priorities. According to the research, 78% of employees are concerned that they lack the skills necessary to advance their careers. Developing skills and climbing the career ladder are important objectives for these professionals.

There are numerous ways you can learn and develop important career skills. Some methods include:

Online courses

There are many good reasons to study business in college, and one is to learn critical business skills. Earning a business degree can help you develop the skills and knowledge base necessary to succeed in the business world.

Different programs are also available for various career paths.

Practical experience and on-the-job learning

There are many skills and a great deal of knowledge that can be learned through hands-on workplace experience. That’s why it’s important to remain curious and open to continuous learning.

Mentorship and coaching

Seek feedback from colleagues and managers to learn more about their work and how they achieve their goals. Pursuing mentorship from a more experienced professional can help you identify strengths and weaknesses and improve your business skills.

Advance your business skills with Lynn University

Lynn University’s online bachelor's degree in business administration can provide an excellent foundation for business success. Request more information to connect with a student success manager.