The Wonderment of a Small Business Owner

Most small business owners wear multiple hats and play different roles to function and ensure the success of their business.  To say they multi-task is an understatement! They play a fundamental part in every aspect of their business for several reasons, like the difficulty of hiring a specific person for each role, especially when the company is just starting out. Either way, entrepreneurs must master this balancing act by having the ability to seamlessly and quickly switch between critical tasks

Let‘s have a brief look at the different hats that small business owners find themself wearing!

CEO/Manager
When wearing this hat, you will meet the changing needs of your clients. You are recruiting the best employees and are responsible for leading and training them to help your business flourish. You are the decision-maker and risk-taker. And most importantly, you must know how to delegate and motivate as this will ensure that your employees will do their best work for you.

Accounting/Bookkeeping
As an entrepreneur, you will have to be knowledgeable on how to manage your finances by keeping track of the cash inflow and outflow. You must also monitor records of daily transactions, prepare and send invoices, taxes, financial reports, collections, paying bills…and the list goes on.

Sales
Whether your products or services are scented candles, massage therapy, or a digital app - creating awareness with potential clients and effectively communicating what sets your product apart from others is crucial. Other tasks include planning sales, negotiating deals, and providing excellent customer service. Regardless of who you end up hiring to sell your products and services, you are your company’s number one salesperson.

Marketing and advertising
Marketing is critical in any industry, whatever products or services you may offer. If no one knows your products or services, what is the point of establishing them? When taking on this role, you must figure out what type of clientele is out there and how you can attract them. You, too, must be up to date with competitors in the same niche and remain educated about what is happening in your industry. Marketing can also include advertising, developing and maintaining a website, updating and monitoring social media, market research, brand development, digital communications, public relations, and many more. Finding out the best strategy for exposing your products or services to the world is necessary for a successful business.

Clerical
Knowing how to perform a variety of administrative and clerical duties is necessary for any business to stay afloat. These duties include acting as a receptionist, operating telephones and a variety of office machines, organizing files, coordinating and scheduling events and appointments, writing and distributing emails, and many more.

Being a business owner always means wearing multiple hats, from managing employees to dealing with customer demands. It is essential for entrepreneurs to master switching gears from one task to another, but most importantly, don’t forget to embrace all the different figurative hats you wear in your business!