[This article was written by Hannah Whittenly.]
If you’re interested in starting a business, it’s important to go into knowing a few things. It’s a very rewarding endeavor. It’ll challenge you to grow as a leader. Lastly, it’ll force to wear a lot of different hats in the beginning. Consider these eight hats you could end up wearing—hypothetically speaking—to get the ball rolling.
When you go into business, one of the goals is to earn a profit. As the head of the finance department, you’ll want to create budgets, create sales goals and keep track of your taxes. If you can afford to hire the services of an accountant to make sure you’re on track with your taxes, this is a wise investment. Be sure to create a separate business bank account for all of your company transactions. Don’t mix the business with personal.
If you’re not great with sales, it’s time to learn. As a business owner, it’s wise to read and learn as much about sales because you can’t survive without it. You can also create a product or service that’s so excellent that it sells itself. In that case, you’ve won half the battle.
Create sales funnels, email lists and social media ad campaigns. There are many tutorials to learn how to dominate the online space as a digital marketer. If you’re an avid social media user, start by watching professionals like Gary Vaynerchuk and Seth Godin. Learn and implement their advice.
As you bring employees on your team, it’s fine to make them independent contractors. However, as time goes on, you’ll want to provide a better compensation package for your employees. Start preparing a system to compensate your employees with benefits and more.
It’s always important to treat your customers well. Customer service can be the one thing that keeps people coming back. Create rules and stick by them such as promising to respond with 24 to 48 hours.
Always find ways to improve your products and services. Listen to your audience and find out what they’d like more of. As you streamline your offerings, you’ll have more time to improve them. Plus, it’s fun to get creative and provide incredible products.
Everything from your web design to the programs you use to run the company can fall under IT. Since you’re in the beginning stages of the company, give yourself a bit of grace to learn and build your IT infrastructure slowly. If this isn’t your strength, hire freelancers to help you learn the ropes of IT.
Hopefully, your company expands to the point where you need to use warehouses and machinery to house your products. Until then, don’t be afraid to use a forklift hire and other machinery to help you maneuver around the space with heavy boxes and equipment.
Yes, these eight hats will stretch you. On the bright hand, you’ll never experience a dull moment. There will always be a variety of things to do. However, you don’t have to let the roles consume your life. As you start a business, don’t forget to live your life.
Hannah Whittenly is a freelance writer and mother of two from Sacramento, CA. She enjoys kayaking and reading books by the lake.