What many people think of a small business, they have these visions of an independent entrepreneur who is crafting a finely made product, happily working away doing something fulfilling with their life. REALITY CHECK!
Operating a small business takes a certain level of discipline and understanding. This is because it small business is like a child in that your decisions can either help it grow and blossom or destroy it. Let's consider just a few of the positions in a small business that need filled usually by the owner.
1. Building maintenance coordinator. If you rent or lease space, the task of scheduling maintenance and repairers not only for the business equipment but many times the building infrastructure falls to you. Such mundane tasks as making certain the windows are washed and sidewalk cleaned regularly also are your responsibility
2. Advertising executive. Your small business may make the best product on the planet but there will be no sales unless consumers hear about it. How do you plan on getting your message out? If you hire an ad agency in their work is ineffective your business suffers. This means you need to understand your market and how to reach them.
3. Human Resources. Plan on having any employees? Be prepared to deal with developing an employee handbook, Worker's Compensation, absenteeism, along with hiring and firing. Oh and if you get read of an employee without proper documentation and justification, be prepared to have your unemployment insurance account charged to pay for the employee UI benefits.
4. Insurance expert. How much it will kind of insurance you need? Although you can get help with this from a business insurance agent, remember the agent is in the business of selling insurance. You need to be able to understand the risks your business faces and what should be insured against.
These are just a few of the hats a small-business owner needs to wear. Running a small business is exhilarating, exhausting and very demanding. The rewards however, are much more than simply money in the bank. |
