Starting a business is a complicated process that involves a lot of organization and resource management in order to make the process work. Sometimes people are excited about the launch of their new business, and sometimes forget the importance of the steps.
The fact that almost 50% of all small businesses fail in the first five years scares entrepreneurs, but the truth is, most of the businesses fail due to starting without proper research and business plan.
Choosing the right people for your company should be your first priority. After all, no matter how good is your product or service that you offer, you’ll not succeed if you don’t have the right team behind the operations.
As a beginner, not many business owners know the crucial sectors of their company. Of course, this depends on the type of business, but there are a few essential positions that every small business needs.
This is the person who is in charge of all operations. The general manager works on long-term and short-term strategies to improve every aspect of your business. In most cases, the general manager is the owner of the company in small businesses.
The general manager is in control of your staff, customer care, and all operations.
Every company needs to keep track of everything that is going in or out of the business. That is where the accountant steps in. Cash flow is one of the crucial points of your business and your accountant should track all the income and how much money is the company spending.
In most countries having an accountant is required by law no matter the size of the company. They are a crucial point of your company and they will manage all the finances and help you determine the right financial strategy and assist you in being tax compliant.
Nowadays it is impossible to succeed without a marketing specialist in your company. It would be like TwinSpires Kentucky Derby race without the horse jockeys. Can you imagine if the horses were just racing on their own without any guidance?
Since the market is fierce in terms of competition, you need to hire the right person that will come up with creative marketing strategies that will separate your business from your competitors.
Since we are talking about starting a small business, your marketing position needs to be filled by one person. However, as your company grows, you can hire more people to cover different aspects of marketing.
Since the world functions digitally, it is hard to start a company without having computers, servers, or access to the internet. This means that you need to hire an IT expert that needs to take care of all things if something goes wrong (and it definitely will).
Not everyone is a computer whiz, which is not something to be ashamed of. That’s why hiring an IT expert can save you a ton of money from getting services from third party companies. He/she should take care of your company’s network, electronic devices, and give you suggestions on how you can improve your operations.
Human Resource Manager
Managing with people is a complicated process that requires a lot of time and devotion. That is why a human resource manager should be your top priority. A human resource manager is a person that will hire new people and get rid of someone who doesn’t fulfill the company’s expectations.
Even though running a small business doesn’t involve many procedures, you might still need a person in your company that will take care of all things. That way you’ll focus on more important stuff like increasing sales and streamlining products.
By hiring a virtual assistant or administrative assistant you’ll be able to delegate tasks that will take too much of your time or defocus you. Even though it seems like an unnecessary position at a small business, you’ll be surprised at how much more you can achieve by having a person that will take care of everything for you.