Some competencies in IT are unique, inherent only to this sphere. Others are regular, dictated by common sense and rationality. To become a good IT employer you need to grasp all of them.
Whatever professional manager or succesful entrepreneur you are, you won't be able to run an IT company with zero understanding of modern technologies. Discovering nuts and bolts of tech should become your priority. And don't forget to update continuously your knowledge base, because in this industry new technologies tend to appear almost every single day
Understanding corporate culture and organization
Every company has a unique culture. Being an employer, your prerogative is to define and cultivate it. Whether you choose to build a multi-layer organization, or a flat-hierarchy company, make sure you use the best instruments and methods to reach the fullest potential.
Managing and planning
When building a company, you definitely have a general vision of its further development. But for a greater success you should learn to make short- and long-term plans. Where do you see your company in five/ten/twenty years? What kind of people do you need to get there? What direction should you move now? These are the questions you should keep in mind
Communicating and listening
Communication is essential in business, and ability to listen should be an essential part of the communicative process. Listen to your partners, who pursues the same goals as you do, listen to your developers, who have better tech skills, listen even to your gut feeling. Remember that to stay on top of IT business you should be open-minded and ready to learn.
There is hardly any other industry that changes as fast as IT does. Due to this fact, you should be ready to change and adjust your business to the demands of the new times.