When you’re working for somebody else’s company, your responsibility and roles not more than for one division, or one department or some projects assigned to you. You may ever heard managers or executives moaned about wearing two or three hats in one company, it’s more than likely you are going to wear all hats in your own business.
As a business owner, you are responsible for all roles, all projects, and all employees you are going to occupy (if you plan to have some). You are the only one who responsible for the business operation and existence.
Here are some responsibilities and roles you are going to take:
Although if you plan to have a lawyer, you still have to know about the law, moreover if you don’t plan to have one, you'll have to prepare contracts and other documents required during the business registration. Even when your business has been established, you still have to involve in the law roles; making a new contract, updating the existing contract, and understanding all of the employment laws if you have employees or want to hire someone.
Making and taking care of business plan and strategies is another role that you have to do constantly every time you set or change some new or existing goals. Making the plan and its execution, its follow-up, its controlling, all of those will be your responsibilities.
Researcher & analyst:
Before you start your business, you'll have to find who/what is your market segment, exploring and analyzing the market, you may also have to conduct market research at various times during the life of your business.
Marketing, advertising & sales executive:
Following up your marketing or advertising campaign, you'll be responsible to; write advertising copy, visit potential customers, and make sure existing customers on highest satisfaction, sales force and maintain marketing network.
Until you have one, all clerical, reception and secretarial roles will be yours, at least at the beginning period of your business operation. Making and receiving phone calls, filing, mailing, even if you have clerical help, you'll inevitably do some of your filing, some of your typing, some of your mailing.
If you sell goods at the retail level, you're responsible for collecting sales tax; also you're responsible for collecting payroll taxes from employees if you have, and for sure you need to calculate the tax amount, preparing ~ filling the form and submitting the tax files.
Accountant & Financial Controller:
You will be likely to do accountant and financial analyze constantly during your business life. Even if you have one, you still have to know a lot about accounting and data analyze to keep your financial healthy and on growth. If you don’t have accountant, at least you will need to construct financial statement for annual tax year purpose.
Since the beginning of your plan to start your own business, you will probably come to depend upon your computer; developing website, making and submitting sales letter to the potential customers list, making online press. On the operation period, you'll have to fix your computer when it breaks, install upgrades, and load software; you'll also have to keep up with the newest products and the latest changes in technology.
Human Resource & Development:
Along with your business growth, you will keep adding more employees in, to make sure they will give best contribution for your business, you need to make sure your employee on the skill level required for the position you fill.
Looking at the responsibilities and roles of new small business owner, obviously you will spend much longer working hour than you have been doing as an employee. If you decided to start your own small business, I believe you are ready for those roles. If you have not ready yet, those will be some of your important aspect to be considered and addressed on your strategy and plan. Along with your business growth, you may plan to out source some (if not most) of those later on.