5 Duties Of A Business Owner

Small business owners often do not have the luxury of hiring people to
perform all the tasks required to keep a business going. As the owner, your duties is to perform such tasks which are so required. You might be very good at what you do to make a product or provide a service, but running a small business brings a whole range of other responsibilities.

Business Planner
As the owner, you are the one to prepare a business plan for your company. You can use marketing research to identify trends and potential markets for your products. If you have an on-staff salesperson or a manufacturer's representative, you have to provide guidance and training. Introducing a new product and expanding into other markets are decisions you have to make - read, "Tips on Creating a Successful Business"


Human Resources
Owners of a small business often hire employees. As the owner, you have to determine whether the business can support new hires and, if it can, you have to conduct the interview process by asking key questions and avoiding ill-advised and illegal questions. The owner decides on benefits for employees, provides benefit information and forms, fields employee questions and complaints, and fires subordinates for any number of reasons.

Customer Service
Unless the business can support CSRs (customer service representatives), the responsibility of servicing customers falls to the owner. Besides handling complaints and requests, customer service involves troubleshooting, installation, training and technical support, depending on the product or service provided by the company - also read, "Reason Why Some People Could Not Make Money"

Marketing
The owner of a small business must plan and implement marketing strategies. Effective marketing methods depend on the type of business you have. Some companies rely heavily on print marketing materials such as catalogs, brochures and booklets. Others advertise in magazines or set up booths at trade shows. As an owner, you could find that networking works wonders, and you might join a business group or attend organizational meetings for your industry - you may read, "Marketing Products and Services".

Resident Technology Expert
Few businesses can survive without cutting-edge technology. As the small business owner, you have to keep up with innovative products on the market to remain competitive. You must be skillful to operate your computers and business software to keep track of orders and invoices, load new software and install upgrades. You might have to network multiple computers and link them to a single printer. It also helps to be able to make repairs if the copier, fax, printer or computers break down - you may also read, "Working Smarter To Succeed In Business"

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How To Determine The Best Business To Start

When you have made up your mind to join the business world, it is vital to ensure that you choose the right type of small business. This is a decision you cannot make in a hurry. You need to make sure that you have the resources and the ability to succeed in the chosen enterprise. Below are a few tips that will help you to make the right choice.

Before you take your first step into the business world, it is vital to be convinced that this is the right thing for you. Your chances of succeeding will be higher if you look for something you totally agree with. It is also important to ensure that there is a reasonable demand for the products you plan to sell -- you may read, "What to Sell Online to Make Money" 

If you are presently employed, you will not be able to devote too much time to your new venture. This means that you need to hire employees or choose something that you can do on a part time basis. Individuals who have more time on their hands will be able to consider more options -- you may also read, "First Thing to Consider Before Setting up Your Own Business" 

Choose an enterprise that will fit with the type of lifestyle that you presently have. For instance, if you are a single parent, you have to consider the time that is needed to take care of your kids. This is why a lot of people prefer to start businesses that they can run from the comfort of their homes.

Every industry requires a set of skills. This does not mean that you have to be a professional in the area of business you want to go into. You can search for capable and qualified people who will do most of the work for you. However, it will be easier for you to monitor the operations of the firm if you have related skills in that field -- read, "What it Takes to Succeed in Your Business" 

Consider the type of resources that are available to you. When you want to start a new enterprise, you will need a lot of resources. This could be in the form of money, equipment, vehicles and buildings. It will be easier for you if you choose something you can easily start with personal funds -- also read, "Common Problems in Your Business" 

The best small business to start is sometimes the one that has been proven by other people. Imitating other successful businesses is a good way to increase your chances of succeeding. For instance, if you buy a franchise, you will have a lot of support from the parent company.

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Believe in Yourself to be Successful

There are people that are incredibly talented and yet, they are not successful. There are people with amazing skills and abilities that are struggling all the time. There are not so talented and skillful people that get to surprising levels of success. It's because talents, skills and abilities are not a guarantee to success.

The first step, to achieve anything in life is to believe in yourself, believe in what you do - that is, your product or service. Every great achiever will tell you that the defining moment of his/her life was when he or she decided to believe in him/herself.

In order to achieve success you need to get rid of everything in your brain that underestimate your value, your abilities and remind yourself over and over again what are your strengths and what you are good at, and to strengthen your belief in your ability to succeed - you may read, What it Takes to Succeed in Your Business.

Think about this:
What do the Donald Trump's, Bill Gates and others do that help them earn in their business hundred times more than anyone else? Can you imagine they tell themselves they aren't talented enough? Not worthy of success? You will not find a business owner that doesn't value and belief in himself.

Now take a look at yourself, think deeply about what you do well and enjoy doing, focus on it and be committed towards it. Learn something new about what you believe you can do - so you wouldn't give up on your dream, with that you are on the path to success. You may also read, How to be Financially Successful.

It's your time to decide if you will be successful. When you are successful, you will start treating and talking to yourself in a different manner.

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Don't Waste Your Space On Non-Profitable

The way the stores make their money is quite simple, they provide consumers with temptations. They pay close attention to both their customers' needs and what they will buy. Consumers also tend to forget that all stores are interested in one thing - profits.

The stores purchase exactly what they predict their customer will buy, put it on a shelf and tell you all about it. They don't care if you already have another one that's still good or if you need it or not. All they care about is whether or not you'll buy it. If for some reason the product doesn't sell they will cut the price so it is even more tempting for you. If marking it down doesn't work they get rid of it. Even though the store spent money on their inventory, they do not waste precious shelf space on anything that is not currently useful for them, that is to say... making them money.

So what does this have to do with you?
First of all, just because a store stocks, it doesn't mean you have to buy it. The store's goal is to sell their products to you not make you happy. You do not have to buy the "newest and brightest" just because it is available. Give yourself permission to take control and ask yourself if you really need the product and how you will use it. Ask yourself if there is something that you already have that will work instead. Ask yourself if it will end up sitting on your shelf.

Second, imagine you were a store manager and take a few minutes to look around your office. Are there things in there that are beyond their shelf life? Are there things that you already own that will never be used? Are you wasting your space on things that are not profitable for you?

Sure some of the products you have may be "good" and there is nothing to say you can't use them but if you would prefer to have this year's model then recognize that last year's model isn't worth anything and let it go. The money you spent is already gone, now it's about shelf space.

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