One of the most overlooked, but incredibly important aspects of any business is the 10 different departments that operate within that business. No matter the size complexity, turnover, or profitability of your business, it will have 10 different departments.
What are the ten departments of a business?
The first department is your very top. That is your owners or your shareholders right now, the function they play is to fund the business. Pretty simple really.
The second layer that we have is your director. Who is wearing the director hat in your business? You are setting the strategic plan for the business.
The third layer is your leadership. Every company only ever has one leader. That one leader is in charge of ensuring that the business delivers on the strategic plan.
In many cases, the owners, who are also the directors, are also the one person who is accountable for delivering as well. So you can already see the responsibility that sits there. And in many cases, those incredibly important facets of your business are actually forgotten about if we get caught up too much in the day-to-day.
We now step into the operational layers within the business.
Product development: Creating new services, creating new products to sell.
Marketing: Pushing your product and making people aware of your business and what it is.
Selling: Converting the leads into clients.
Finance: Dealing with all the money, dealing with all the tax side of things.
HR: Workplace culture is becoming more and more important, especially when you are hiring staff. We all know the issues we can run into if we don’t execute or have a strong HR function within our business.
Admin: The function that actually keeps the business rolling on.
Operations: This is where everything happens, actually doing the work!
How many hats are you wearing?
How many hats do you think you are wearing? If you were to be honest with yourself, how many of those functions do you think you are performing, and how much do you think it’s taking away from some really, really important aspects of your work?
If you think you are spreading yourself too thin, then you need to get in touch with us at SMYD Accounting / Advisory. One of the first things we are going to do is give you the permission to invest in either outsourcing some of those functions or give you a really clear focus on which function you can work on now, in order to start getting your business, working better for you.
Get in touch with us today.
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