Business Management

Launching a business is the most rewarding adrenaline popping, chest pumping thingy you can do in your whole life. Whether you have built it from the ground up or you’ve acquired an existing business, knowing each aspect can be critical to the survival of the business. So, how do I manage a business you ask? Keep scrolling.

So, as the CEO of a company, what should I do if I can’t afford to hire employees or contractors?

Well, you do what most of us have done, you put on the hats, one hat at a time. So, what does that look like? Let me give you a quick run down of the some of the general jobs you should be doing.

Positions & Duties

  • Social Media – Posting on a regular
  • Accounting/Bookkeeping – Keeping up with your expenses
  • Content Creation – Creating interesting yet compelling content
  • Marketing – What methods will you be using to spread the word?
  • Manager – you will need a business Plan – Nothing fancy, just your business goals & how you’re gonna smash them
  • Laborer – someone that completes the service or creates the product
  • Salesperson – You’re going to market the company based on the marketing plan (see above)
  • Strategist – Solve the problems that your business will face
  • Tech Support – Oh, the malfunctions
  • Customer Service – You will fix everything, you’re the woo’er

Now, there may be other hats that you will wear, more specific to your career choice, but this is what comes to mind.

Do I need to be an expert?

You don’t need to be an expert in every area to be successful and manage your business. However, but you need to familiarize and immerse yourself in every area to run a successful campaign. If you worked as a Manager at an Automobile lot, you would need to know every person’s job and how to do it properly. It’s the same concept as an entrepreneur, when you’re starting out, most of the times you’ve invested money to make money. There typically isn’t finances available to start hiring from jump street, now sometimes you can find family members or children that’s willing to help you fund your dreams.

Wow! Wasn’t really expecting this much of a workload. Well, owning, managing, and running a successful business isn’t easy at all, and it ain’t for the faint at heart.

This does seems like a mental overload, how do I learn all these skills?

You will need to study, learn, read, connect, link, and network, however the most valuable asset to your career would be reading. What separates the Entrepreneurs who desire to run a business from the entrepreneurs that puts their blood, sweat and tears in it? It’s simple, action, willingness to succeed and the hunger to learn more

If I told you that you could have a new construction home, you would be ecstatic right? Sure you would be, but if I told you that you had to build your new house, and in about 9 months, you should be finished. Also, let me tell where you can get free materials from, because there are several places you must visit. Your bubble will start to deflate because “work” is being introduced. Moral of this story, you can give some people all the tools to success and they will refuse it because it doesn’t sit on easy street.

Take it or Leave it?

So what’s next…manage my business (con’t)

Now, let’s move on, we are missing a critical element, can you guess what it is? Yep, you’re right, it’s the budget. Not just for marketing or advertising, there are at least 3 financial implications that you should be considering.

  • Cash Flow
  • Equipmemt purchase or rental
  • Contractor or Employee plan

O’solutions recommends that the first thing you do, is get your accounting software, Quickbooks online. Not only is it user-friendly but with the online version, means you can keep track of your finances anywhere.

Small business owners should ultimately share the same goal, to get the company to operate in their absence. Now we have discussed how to manage a business, now here is the way to manage:

  1. Create a System – If your’e the only one that has the secret sauce to making the magic happen, then you’re nailing yourself to the wall.
  2. Provide Support – Don’t be so disconnected that your team can’t connect to you for success to happen, stay reachable with boundaries, if you must.
  3. Only hire great leaders – People should want the position, they set the tone and inspire others

These are only suggestions based on experiences and research, we would love to hear from you!

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