Roles of a Business Owner
Being a business owner, you will have to present different faces and play a lot of roles.
These are very important to ensure that your company will achieve its goals.
Owning a business will require you to play a lot of roles. You may need to assess both your strengths as well as weaknesses in order to determine if it is necessary to improve yourself on those skills or just employ someone to do those roles. For instance, you don’t have knowledge on accounting then you can hire a bookkeeper for this role and work on the other role that you are knowledgeable with. This is an excellent solution in saving time and money too.
Some Basic Roles like Accounting, Manager and Legal
If your business is about sales then you will be collecting tax from your sales. The role of accounting involves keeping transaction records, paying taxes on the State and the country, financial reporting, paying bills, and collections of bills. If your company has employees then you will be responsible for the human resources and this includes recruiting, scheduling, hiring, firing, payroll, and benefits tracking such as the insurance. It may be necessary to know about some legal aspects of your business. You may need to prepare contracts and some other simple legal documents.
Sales, Technology, Marketing, and Advertising
Your role in sales includes planning of sales, negotiation to clients, direct sales, tracking competitors, customer service, and managing sales representative. Preparing for the advancing of technology is also required. You may need to learn how to keep files and trouble computers when they are damaged or update software to keep being competitive to the market. In the marketing and advertising, your role would be to plan both your marketing and advertising plan. The marketing includes annual market planning, writing ad copy, media buying and planning, distribution channel, market research, packaging, and pricing.
Business Planning, Clerical, Receptionist
After you have started your business, you may need to monitor your progress by preparing your financial statements, addition of new products, expansion of your business, and the adjustment of your business plan. While in clerical and receptionist role, you may need to perform jobs like mailing, filing, etc. Then as your business grows, you will be required to hire professional people suited for each role and just concentrate on managing the business well. To be able to succeed in one specific role of a business owner, you must possess lots of good qualities and skills. These qualities and skills will help your business to be successful. You must be very creative, patient, hardworking, and more. You must have the ability and capability of pushing your dreams to the fullest until you reach what you dreamed of.