The strategy and BizOps professionals worldwide spend their days engrossed in data, frequently becoming subject matter experts in data discovery, analysis, interpretation, and recommendations.
It's super important that a BizOps leader is well-versed in both hard and soft skills to lead successful business units. Therefore, one needs to master these skills at the right time to be able to make a difference and manage their position well.
To begin with, one of the most critical abilities you'll need for a successful business strategy is balancing the needs of various stakeholders within a changing industry and tech business model.
This is exactly what we are going to help you with today! This guide will teach you how to master a few critical abilities that every BizOps leader should master for running successful business operations. These could include market analysis, stakeholder management, and product launch management.
6 Must-Have BizOps Hard Skills
Let's start by delving into the most essential business metrics and BizOps hard skills crucial in BizOps leaders, department heads, and their team members.
1. Data Retrieval and Querying
In most companies, members of strategy and business operations teams spend their days steeped in data and are expected to answer various queries associated with it.
Therefore, SQL is an essential skill for data analysis in most of these positions. It's essentially a program for accessing, cleaning, and analyzing data in company databases.
2. Data Visualization and Analytics
The team members in the BizOps domain are commonly tasked with developing and presenting executive-level reporting on crucial performance indicators. These can range from the broad question, "How many new customers come to the site through paid advertising channels?," to the more particular ones like, "How many enterprise software customers viewed and used a particular product?"
Another vital part of data visualization, in addition to reporting, is expressing your data analysis clearly and compellingly.
Before making a suggestion, you should convert all of the tables and figures you utilized throughout your data analysis into aesthetically appealing charts. This will help you share a more robust and compelling narrative of your company.
3. Marketplace Metrics
BizOps leaders must grow to achieve profitability secure new business opportunities. They should work towards establishing a virtuous cycle in which customers continually bring in more providers, and further, the providers continually bring in more customers.
You should closely monitor specific measurements or Key Performance Indicators to determine whether things are headed in the right direction and take prompt action if you feel they point south at any time.
4. Stakeholder Management
In BizOps, stakeholder management is crucial to the practical completion of any project, program, or activity.
Stakeholder interactions can have a beneficial or harmful impact on the life cycle of your project. Therefore, you'll need to identify your primary stakeholders and develop a viable stakeholder management plan to fulfill their needs.
5. Experimentation and Statistics
A basic understanding of statistics and experiments is also essential for this position. In today's world, it's quite common for companies to use an A/B test experiment to de-risk new projects like product launches and pricing changes.
The Strategy and BizOps team is usually tasked with collaborating with the data science teams of the company to create the experiment and identify the various success criteria involved in the business work.
6. Opportunity Sizing and Tech Business Modeling
Technical modeling and sizing changes are a significant responsibility of every BizOps leader. Strategy and BizOps domains are continually developing and generating new systems to accelerate growth and expand, thereby making it vital to know how they affect the bottom line.
After all, how can you promote something if you don't know what you're going to get out of it?
Modeling and opportunity sizing are critical skills you might use in various situations. Of course, the traditional market sizing drills come up from time to time, but you'll also use this skill in different tactical situations.
5 Essential BizOps Soft Skills
There are ample soft skills that are necessary for success as a BizOps leader. But, we can still condense these down to a few key ones. All the ones mentioned below are super essential, not in any particular order.
1. Excellent Communication
Apart from strong business acumen, skillful communication is certainly an essential soft skill. When you communicate successfully, it indicates that the other individual or group understands what you're saying.
Communication might become lost or muddled when the number of people and channels is significant. This is where BizOps comes in, acting as a translator, ensuring everyone is on the same page, and guaranteeing customer satisfaction.
2. The Ability to Simplify Issues in Business Operations
The ability to take up a complicated subject and boil it down to its essence allows the leadership team to visualize the correct way of moving forward. It is crucial for the effective functioning of daily business operations.
Drawing business insights from information, for instance, is a crucial part of this role's success, but it's only one aspect of it. It's even more vital to be able to streamline them.
What good are the insights that only add to the complexity? Sales managers and leaders should provide clarity and precision to everything they handle within the business unit.
3. Pulling the Business Units Together
Working in a BizOps capacity allows you to see the big picture. Employees of a company are assigned to a particular business unit, organization, or team. That makes them oblivious to what is happening in other business units outside of their reality.
BizOps, on the other hand, is centralized and can see the entire organization. However, this is only a benefit if it is taken advantage of. One must be able to find common ground to do so.
4. An impactful personality
How can one aspire to bring change without possessing the managerial skill of influencing the new talent? That is a near-impossible challenge! In BizOps, influencing is crucial for getting things done, notably when making difficult decisions that require persuasion.
One thing to remember about influencing is that it is neither good nor harmful. The goal is to persuade the person to agree with you and make necessary alterations.
5. Going the Extra Mile for a Successful Business Strategy
Assume you've finalized your annual plan and are ready to share it with key stakeholders. You may either share what you have, like a giant Excel spreadsheet full of details. Or, you can be proactive and personalize it to the needs of each stakeholder.
That is an example of how being proactive, anticipating future needs, and addressing them ahead of time, leads to a better outcome for all parties involved. You should approach all aspects of BizOps with this perspective.
On the whole, these skills and abilities are necessary for success as a BizOps person. Soft skills are less concrete, more subjective, and, for the most part, more difficult to obtain than hard skills, which may be written as a condition of employment in business operations and human resources.
Both hard and soft skills can be enhanced over time by self-awareness, purposeful action, and tenacity on a lifelong learning journey.
You will be frequently pushed to use data analysis and experimentation to move the business ahead, and your experience will ensure you become a valued member of an organization.