Building Your Own Business – The Roles You Will Be Expected to Play

Building your own business – the roles you will be expected to play. Did you ever try out for a theatrical production in high school? Deciding what role you were going to try out for was a big decision, and one that you put a lot of time in deciding.

Perhaps theatre was not your extracurricular activity of interest, but as a business owner you will have to study the roles you will be expected to play.

Your job does not begin and end with one title; it involves the donning of many new hats – some you may be familiar with from past experience, and some that are completely new to you.

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The Accountant

It is not often that you hear of a child having a dream of growing up to be a tax collector or payroll manager, but if you want to start your own business, it will be part of that dream.

If your business involves retail, you will be required to collect the appropriate sales tax on behalf of the government and state. If you have employees, you will also be dealing with payroll issues.

The payment of employees will likely be your responsibility, unless you have designated this role for a particular individual. If you have an accountant (and you should) you’ll still have to know a lot about accounting; you’ll have to know which records to keep and how to keep them.

And, you will want to know how to read and interpret your financial statements. It is always a good idea to keep a watchful eye on the financial practices of your business.

Human Resources Officer

Human resources will no longer be a distant department in the corporation that sends out helpful memos on office etiquette and insurance benefits.

You will encompass the HR department, wherein you will have duties that involve recruiting, hiring, benefits information, and layoffs. Honing your organizational and communication skills will be greatly beneficial for this particular area of business.

In addition, having an open communication policy can greatly improve the atmosphere in the office.

The Marketing Executive

Before you start your business, you’ll have to find out who your customers are and where they’re located, so that means market research. You may also have to conduct market research at various times during the life of your business, such as when you are considering introducing a new product.

The marketing and sales department will also be added to your repertoire. Marketing your company, creating a campaign, writing advertising copy, and making sure all those plans are carried out will be part of your world.

Networking with people can be a great practice that will benefit your business and should be a part of your marketing strategy. Make sure that your business builds a solid reputation within the community; this will only further enhance business results further down the line.

Business Planner

As you own your business, you’ll inevitably want to make changes, perhaps to expand the business or add a new product line. If you want to make a change, it’ll be your responsibility to do it.

You’ll have to plan it and execute it, and you’ll have to consider all of the ramifications of your decision. Getting outside help here, in the form of a consultant, can be a valuable investment in your business.

The Lawyer

Being educated on the legal aspects of running your business will also be one of the new studies that will steal a portion of your time.

Even if you have a lawyer, or some form of counsel, it is important to have a general understanding of laws that will pertain to your business. You will be a stronger and more competent leader because of this knowledge.

The Assistant

In your previous position within a larger established company, it is likely that you had some form of assistant. Someone who took care of the details such as scheduling, travel expenses, and filing...Take a long look in the mirror, you are now that person.

Most startups lack the funding to take on a full time assistant, thus it is likely you will be your own clerical agent. At some point in the future, when success has given your finances a boost, it will be a feasible expense to hire a full time assistant.

However, even at that juncture, it will be necessary to teach them certain functions. In this way, your experience doubling as your own assistant will be a great asset. You will have learned what works best for you, your business, and your personal working style.

With all these roles, you will have to assess your own strengths and weaknesses. There will be some that you see yourself as a company asset, and some that you will have to work a bit harder just to make the grade.

In some cases, you will need to compensate in the areas you find yourself falling short. Seeking outside counsel in the form of a lawyer, accountant, or other freelancer is a likely and often unavoidable expense.

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It is however an expense that will prove extremely beneficial. You can use these outside sources for your own improvement. Pay attention to their practices, question them, and you will forward your own education. Doing all this will only strengthen your larger role of leader.

It can be overwhelming; but keep in mind that it will not always be such an all-consuming job. In the beginning, your startup will take the majority of your time, but this is because a great deal of attention is needed to build a solid foundation.

You will be learning all that is involved with the role business owner, so be patient and gather all your determination to move forward. There will be trials and learning experiences, days that are seemingly endless, but you will get through them.

Persevere through the hard times and you will likely see the success at the other end, a product of your efforts. (*)