Top 10 Positions Business Owners Need to Fill to Make Their Company Successful
Businesses can quickly grow to become too large for one person to manage, causing some new ventures to fail. The cost of hiring employees and recruiting talent, however, can discourage business owners from getting the help they need. Despite the cost, business owners must fill the following top ten positions to make their company successful.
1. President or CEO
Organizations such as corporations might need a CEO to comply with regulations. Other business structures might not require any executive positions. Regardless, having such a leader in place will help the company navigate the challenges of the current market.
2. General Manager or COO
Business owners naturally want to develop their company to the point where it can operate without them physically present. A general manager in charge of overall operations works under the authority of the president to make decisions that support the mission and values of the firm. A COO will often have and education and experience relevant to the business. For example, a company dealing with electrical equipment and infrastructure would do benefit from having a COO having a master’s degree in electrical engineering.
3. Marketing Manager or VP of Marketing
Small companies often do well at first, and then exhaust their customer base. A Marketing Manager has the responsibility to connect the products and services of the firm with clients who need them. Businesses often acknowledge the importance of marketing to their success by making the chief of marketing and executive position, such as vice president.
4. Controller or CFO
Successful businesses must have someone in charge of securing funds from investors and ensuring the proper management of cash and assets. Some organizations appoint different people to manage each role, if necessary.
5. Production Manager or VP of Production
Manufacturing companies need someone in a top position to oversee production and ensure quality. This position helps make sure you are making a good quality product that is servicing your customers.
6. Operations Manager
The operations manager coordinates activities with external stakeholders such as vendors and community leaders. The person filling this position takes the lead in executing activities that achieve corporate goals.
7. Quality Control
Quality control seeks to ensure the delivery of a consistent product meeting customer specifications. Businesses must guarantee the quality of their service as well as the goods they produce.
8. Bookkeeper or Accountant
Companies must account for all the money that passes through their organization. Bookkeepers and accountants create monthly income statements and statements of cash flow as well as other documents required by investors or regulators they work with the controller or CFO to ensure that the firm stays financially sound.
9. Office Manager
Businesses with employees need an office manager to ensure all the proper execution of every routine function of the firm. Smaller companies might also give the office manager some HR responsibilities.
Having one person in charge of processing phone calls and incoming visitors gives companies the ability to operate without constant interruption. The receptionist decides the importance of various communications and often helps with the billing process.
As your business grows, do not hesitate to add the top 10 positions about which you have just read. Doing so will ensure the continuity of your operation by giving it the proper support and control necessary to satisfy customers and maintain profitability.