{"id":35925,"date":"2019-02-10T10:53:59","date_gmt":"2019-02-10T15:53:59","guid":{"rendered":"https:\/\/sciencebusiness.technewslit.com\/?p=35925"},"modified":"2019-02-10T13:51:34","modified_gmt":"2019-02-10T18:51:34","slug":"diaries-of-a-business-owner","status":"publish","type":"post","link":"https:\/\/technewslit.com\/sciencebusiness\/?p=35925","title":{"rendered":"Diaries Of A Business Owner"},"content":{"rendered":"

– Contributed content –<\/em><\/p>\n

\"Business<\/a>
(Gerd Altmann, Pixabay)<\/figcaption><\/figure>\n

10 Feb.2019. You\u2019re about to tap into the secret world of a business owner<\/a>. We think it\u2019s so secret, because business owners only allow people to see what they want them to see. They want this illusion that everything is fine, they\u2019ve got a lot of money, and they\u2019re happy with the way things are going at the minute. They would never like to let on to anyone that their ship might be sinking, or there might just be a little trouble going on behind closed doors. But the thing we really love about business, is there\u2019s always a way to solve things. There\u2019s so many steps you can take to push it in the right direction, to ensure you\u2019re getting the best result that you possibly can.<\/p>\n

Of course, some are just destined to hit the rocks and sink, but for the most part, it\u2019s the actions of the business owner that determines how long the business will run for. So, we want to take you into the life of a business owner to show you what they might have to deal with, what decisions that have to make, and where they most definitely do go wrong. It might give you a good insight into how you should run your own business, or how you would like to if you\u2019re going to set one up.<\/p>\n

Simple day-to-day tasks<\/b><\/p>\n

We\u2019ll start with the things that we know all business owners do, and these are the simple day to day tasks that allow the business to function. Some smaller companies might not even have one employee, so they have to take the whole load of the day and try to deal with it. Of course, as soon as this becomes a little too much and the profit only seems to be increasing, a business owner will make the risky decision to take on an employee, but that\u2019s something else entirely. So for the most part, a business owner is doing all of the tasks that employees can\u2019t do, or won\u2019t do because they\u2019re not even there yet! Interacting with customers<\/a> is one of the most essential ones.<\/p>\n

People like to know they\u2019re talking to the top dog of the company. It makes them feel special, and as though they\u2019re important for getting to interact with the boss themselves. It also helps to give an illusion that the company is super professional. At the end of the phone call, the owner could say they will pass this on to one of their employees, again reassuring the customer they were special for speaking to them, and that the company is more established and bigger than it actually is. The more established and big a company is, the more customers it\u2019s going to attract.<\/p>\n

Other simple day to day tasks include managing the finances, and tracking what\u2019s going on. When a business starts out, it will often take on a nice big loan to get it running. This loan is never going to disappear on its own, and like our personal loans, they only get a ton of interest added on, but as if the interest was on steroids, because a business loan is usually huge. But, it\u2019s up to the business owner to keep track of the progress of the companies finance<\/a>, no matter which way it\u2019s going.<\/p>\n

There are plenty of software packages that you can look into that would help you do this, and then if there is a slight drop, a trip to speak to the financial advisor and the accountant that\u2019s working for you would be on the card. But for the most part, if you\u2019re checking financial tracking software daily, you should be able to see a clear picture of the slight changes that are happening, which should then make it easier to action.<\/p>\n

Decision making essentials<\/b><\/p>\n

Decision making is one of the biggest thing a company owner has to worry about. Literally every second of the day is full of decisions. From deciding what marketing campaign to try next, to deciding what reply to give to a customer. Every decision that\u2019s made is going to have either a negative, or positive reaction, there\u2019s no other way it can go. When you think of it like that, you soon realise that every decision is actually huge to a business. So that\u2019s why we think there are some essentials that need to be taken into account when making business decisions<\/a>, and that\u2019s the opinions of other people. It might be that within your business there\u2019s only you and a few advisors, not actually any employees.<\/p>\n

But even so, you should try and run your decisions past people who you know you can trust, because it\u2019s so important that the decisions you\u2019re making are the right ones. We also think impulse decisions are a big no no. Some people dive right into decisions, especially when it comes to finances, and they nearly always make the wrong one. Take your time, think methodically, and don\u2019t do what a lot of business owners tend to do.<\/p>\n

Tips and tricks they\u2019re missing out on<\/b><\/p>\n

The day-to-day life of a business owner definitely is a bubble, and a bubble that\u2019s used to doing set things only. When a business owner is just so used to doing things the way they\u2019ve always done them, it\u2019s so easy to miss out of tips and tricks that could really help them. The biggest is to save money, and to use money more efficiently, especially where employees are concerned. Some companies have to pay their employees mileage if they\u2019re driving around for the job, or might have agreed to pay them mileage if they\u2019re travelling far to come to work, but it\u2019s hard to track what are business miles, and what are personal miles.<\/p>\n

This is where we think companies such as TripLog<\/a> really come in handy. It allows you to seperate what they\u2019re doing, and always make sure you\u2019re paying them right. Some employees will try to get more money than they need from you, and some employees will fall victim to you not paying them enough, and it will start a big dispute that will ultimately end with them having a grudge against you. No employee likes losing out on money.<\/p>\n

The troubles they face<\/b><\/p>\n

Now, if we were to talk about all of the troubles that a business owner faces, we\u2019d be talking for days. Business is one of those things that you can never truly be happy with, because you always have to be looking over your shoulder to make sure your business isn\u2019t dipping<\/a>. But if we had to pinpoint it to one trouble, we think the trouble of growth is the biggest problem. There\u2019s either too much of it to control, or there\u2019s too little of it that a business nearly drops of the face of the earth. To keep this worry under control, the best thing that you can do is monitor is so closely that you pick up the smallest of changes, so that when big changes come along, you can manage them more efficiently.<\/p>\n

What goes on outside of business<\/b><\/p>\n

It\u2019s not all about what goes on within the working day, it\u2019s the work a business owner has to take home. It\u2019s stressful, it\u2019s time consuming, and it\u2019s not all about making millions and then being able to go and use them. It\u2019s a long road filled with no money, no time, and a social life that starts to dip until the business picks up.<\/p>\n

*\u00a0\u00a0\u00a0\u00a0 *\u00a0\u00a0\u00a0\u00a0 *<\/p>\n","protected":false},"excerpt":{"rendered":"

We want to take you into the life of a business owner to show you what they might have to deal with.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[132,74],"class_list":["post-35925","post","type-post","status-publish","format-standard","hentry","category-business","tag-contributed","tag-entrepreneurs"],"_links":{"self":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/35925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35925"}],"version-history":[{"count":2,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/35925\/revisions"}],"predecessor-version":[{"id":35931,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/35925\/revisions\/35931"}],"wp:attachment":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}