Investing in Yourself: Why Business Leaders Should Upskill in 2022

One feature from Smart Business on upskilling the C-suite says that, yes, business leaders need to upgrade their skills in 2022 to stay up-to-date on what’s new and what’s next. Amid conversations about the shortage of workers with 21st-century skills, members of the C-suite could likewise limit their vision for their company by relying on outdated beliefs that can stunt growth. There is now pressure on executives to display essential skills like critical thinking, collaboration, creativity, and communication to steer their organization through a fast-changing world.

So what does any of this have to do with gaining investors to back your business? Well, modern entrepreneurs, startup founders, and business leaders need to present forward-thinking leadership to flourish and attract more funding. Investing in yourself gives others the confidence to invest in your business, and here are three reasons why:

You can better develop trust with potential investors

Will you invest with someone who doesn’t know the ins and outs of the market they’re in? Unlikely. An opinion piece on attracting investors from Entrepreneur highlights how the best investors provide so much more than money. They devote time, energy, and unique skill sets to your company, often sharing your passion for the business. So naturally, the founders of a business should strive to be equal to them in this regard.

You need to have a clear idea of how to run your business. This includes knowing what you aim to accomplish, developing a realistic understanding of costs, and studying your target market so you can meet their needs or provide better value for them. Business leaders, particularly those running startups, will have to use their insights to guide all decisions. It’s difficult to rely on an expert or a consultant to provide input on areas you don’t have the skills for all the time. Therefore, it’s critical to train yourself in areas important for your firm's growth.

You stay competitive in your industry

According to reports by Reuters on global venture capital investments in 2021, $268.7 billion in funds were invested in deals for software, e-commerce, digital healthcare, and fintech companies that saw strong demand during the pandemic. Late-stage startups attracted 73% of total investments compared to early-stage companies. This means that the space to receive funding has become increasingly highly competitive in the past few years. So how do you maintain an edge against other businesses and distinguish your company?

Based on an article about executive coaching from LHH, if you’re not upskilling with an executive coach, it’s likely that the heads of other companies and startups are on a strong learning path. In fact, the global coaching industry generated $2.9 billion in revenue, up 21% from a similar study done in 2015. If you’re not growth-minded in 2022, you’re likely to fall behind the rest. Stay ahead of the competition by upskilling on the latest trends and technologies. It also helps to stay well-informed about your industry and any changes happening in it. Finally, you’ll likely stay on top of the game with a learning mindset.

You learn new ways to add value to your business

Investors see hundreds, if not thousands of pitches, so they’re likely to be uninspired when you present a boring, outdated business model. Upskilling can help you discover new ways to add value to your project because you get fresh ideas on what people need. There are plenty of books, online courses, podcasts, and other resources you can use to learn about different topics and form a unique, original edge to your startup.
In our post called ‘A Look at Sustainable Investing,’ we talked about how sustainable investing is attractive to investors not only for ethical reasons but because most of these investments also perform well. With this knowledge, you’d know that an ordinary chain of coffee shops won’t exactly create a buzz — but coffee shops that promote sustainable practices from start to finish, top to bottom, may be of more interest to investors.

Are you looking to have more investors on board? Let VerifyInvestor.com help you overcome these challenges today.