IN ADDITION TO THE SUPPORT from a local community, small businesses rely on several key people to operate successfully.
Since they are the underdogs to big-box retailers and corporate offices, optimum organization and leadership skills are key when attempting to come out on top.
Learn more about what makes a small businesses run smoothly and the crucial team members who keep the wheels turning.
LEADER WHO WEARS MANY HATS
Especially during the start-up phase, a small-business owner or appointed leader plays a significant role. They are typically the ones in charge of finding the team who will make the organization function properly.
Until that team is discovered, the leader will be in charge of everyday operations, balancing the books and analyzing the health of the business.
Being the boss of your own company takes patience with employees, dedicated training techniques and the ability to learn from mistakes. A leader is someone who can be looked up to by subordinates while showing enthusiasm during achievements and recognizing faults and correcting issues that are detrimental to a bottom line.
Before a business gets on its feet, a small business owner is required to wear many hats until the products or services begin raising revenue to bring in other members.
QUALIFIED EXPERT
Having a great idea and the financial backing to start a small business is simply the first step of the process. Most companies rely on someone who is well versed in the industry they are trying to break into.
These experts analyze the marketplace, location and potential customers and create the best plan for success. Someone in this position likely has many connections in the industry and can work with them to develop a business plan that benefits both the company and the community where they live.
FINANCIAL EXPERT
The ins and outs of business finance should not be in the hands of an amateur. A highly trained professional is critical to the quality of accounting, finance strategy and cash-flow management required to keep a small business running legally and profitably.
With rigorous bookkeeping, the financial expert can ensure that the financial health of the company is good.
