When you’re starting a business, there are a lot of hats to wear. You’re the CEO, the marketer, the bookkeeper, the salesperson, and more. It can be daunting for new entrepreneurs, who often have to wear multiple hats for their business first few months.
There are a few reasons for this:
- It would help if you did everything you could to get your business off the ground.
- You may not have the money to hire someone to do these tasks.
- It’s an excellent way to learn about all aspects of your business.
Wearing multiple hats can be frustrating and time-consuming, but it’s necessary for the early stages of a business. You’ll eventually be able to delegate some of these tasks to other employees, mainly these functions.
Marketing
Newly minted business owners can only afford to hire a few employees, and marketing does not usually command a high priority. Marketing tools and strategies are available online, sometimes even for free. As a result, many new business owners take on marketing their businesses.
It is not necessarily a bad thing. It can be beneficial to learn about marketing, from online ads to public relations. However, it is essential to realize that you cannot do everything yourself. As your business grows, you will need to delegate some of these tasks to other employees. Suppose the budget is not yet there to onboard in-house marketing teams. You might be better off partnering with digital marketing agencies that can handle the strategies you want, whether project-based or as an outsourced service.
Sales
Sales are where you get your profits, making it necessary to hire salespeople as soon as you start your business.
However, the sales team is often just the owner and a few employees. New business owners need to be able to sell their products or services to generate revenue. It means that they need to be comfortable talking to customers and closing deals.
As a new business owner, you will also need to learn about sales funnels, lead generation, and other aspects of sales. Once again, you cannot do everything yourself. Ultimately, you will need to hire a sales team or outsource this function.
Finance
Keeping track of your finances is essential for any business owner. You need to know where your money is going and its origin. This information will help you make informed decisions about growing your business.
Many finance software programs can automate much of the financial tracking process. However, new business owners still need to understand accounting principles and financial statements.
Hiring a bookkeeper or an accountant can take some of the financial burdens off of your shoulders. However, you will still need to have a basic understanding of accounting.
Product Development
If you’re selling a physical product, you need to develop it. This process can be long and complicated, depending on the product. You will need to find suppliers, manufacturers, and logistics companies. The development process can be challenging, but getting your product right before you start selling it is essential.
Once again, you cannot do everything yourself. You will need to hire employees or outsource this function to partners.
Customer Service
You will also need to provide customer service for your customers. It includes answering questions, solving problems, and providing support. Good customer service is essential for keeping customers happy and loyal to your business.
You cannot do everything yourself, so you will need to hire customer service representatives. You might also need to invest in customer service software to help you keep track of customer issues and resolve them efficiently.
Customers can reach up to the thousands, and they might have many questions you do not know the answer to in an instant. You can also imagine the waiting time your customers have to endure to talk to you. As a result, businesses must have customer service representatives available. Fortunately, they are among the easiest to outsource.
IT
Finally, you will need to set up and maintain your IT infrastructure. It includes your computer network, email system, website, and other software applications. You will need to ensure that your IT system is secure and running smoothly.
You might be able to handle some of these tasks yourself, but eventually, you will need to hire an IT staff or outsource this function. Letting IT professionals take cybersecurity and data storage responsibilities are complex tasks that even tech-savvy business owners cannot control. IT is at the forefront of digitalization, making it necessary to dedicate resources to it.
As a new business owner, you will need to wear many hats. It can be difficult and time-consuming, but getting your business off the ground is necessary. You will need to delegate some of these tasks to other employees or outsource them to partners. However, it would help if you still had a basic understanding of all aspects of your business. Otherwise, you won’t be able to make informed decisions about growing your business.
