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May
04

The 4 Most Important Hires for Your New Business

 

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In the early days of any small business, the founder wears every hat, from the CEO to the customer service representative. Once the business grows and there’s room in the budget for additional personnel, a new challenge arises in the form of deciding which positions should be staffed and what jobs can be outsourced. While specific needs may vary by industry, there are four essential roles for any new business.

Accountant

Hiring a part-time accountant for bookkeeping and ensuring compliance with tax laws is a cost-effective choice in the short term, but you need someone invested in the future of your business who’s available full time. As the business grows, this person can also move into the role of financial manager. Shikhar Ghosh, a Harvard Business School professor in the Entrepreneurial Management Unit, cites excess funding as a major cause of failure. Without effective management, extra capital can mask underlying issues that go unaddressed until it’s too late.

Assigning the title of chief financial officer may not be necessary in the beginning, but it’s beneficial to hire someone with a background in business management and finance. An MBA program with a specialization in finance is the kind of program that offers good preparation for this role.

Administrative Assistant

Making calls, tracking shipments, data entry and scheduling are just a few of the day-to-day tasks that require a dedicated employee for your business to run smoothly. Though it’s not a glamorous position, it’s arguably one of the most important jobs in a small business.

These employees are typically well-rounded, and help to mediate between the many different departments in a company. They are also usually one of the most trusted employees, as their position requires them to understand the complexities of a business’s diverse processes. The right administrative assistant is far more than an assistant—they are a rock star you can count on.

IT

It’s essential for any small business to have an IT professional on staff, particularly if it’s a web-based business. From troubleshooting hardware and network issues to being on site in the event the website goes down, the IT worker is the fixer in your company. Outsourcing this position limits your ability to address problems as soon as they occur. Some potential entrepreneurs may even want to know IT themselves, and an online MBA in MIS (Management Information Systems) can provide the educational background necessary to understand IT issues.

Marketing

In a survey of 625 small businesses, the National Small Business Association found that 49 percent of companies prioritized developing new marketing and advertising strategies to increase growth in the upcoming year. When you’re a small business, it’s a continuous job to build your client list and develop your brand. That’s why an experienced marketing associate is vital for identifying target markets and attracting new customers.

Even with official titles, the nature of a small business, particularly one just starting off, means at some point anyone can be called on to contribute outside their area of expertise. For example, your IT worker might have an idea for a new marketing campaign or the accountant might assist in addressing a client issue. But when it comes to all of the positions listed here, you want someone with the proper training and experience to fill these roles.

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About the author

Anica Oaks

Anica is a professional content and copywriter who graduated from the University of San Francisco. She loves dogs, the ocean, and anything outdoor-related. She was raised in a big family, so she's used to putting things to a vote. Also, cartwheels are her specialty.

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