Being A Small Business Owner - 932 Words

Being a small business owner, the success of my business relies very heavily on my employees’ behavior as well as their performance. Since opening my business, it has been a struggle to keep the balance between loosey-goosey and overbearing manager. There must be a proper balance to ensure that the employees are performing where I need them to be but also encourage them to continue to grow with the company as well as, make our customers happy with our service to maintain long standing relationships. Along the way, I have learned that there does need to be a standard practiced by management to keep employees motivated and that their actions are in-line with the company’s values. In my business, I have learned that one thing that turns things around is to use discipline to encourage ethical behavior and performance. I do not have the ability to watch over my employees every move to ensure that everything is being done properly; they have a lot of freedom and with that freedom comes a lot of trials and errors that need to be addressed to prevent problems from growing out of control. When I first started by business, the idea of punishment was something I didn’t want to consider, I wanted to be everyone’s friend. Just as Managing Business Ethics: Straight Talk About how to do it Right stated â€Å"managers are often told to avoid punishment and to rely on reqards as much as possible because of a belief that employees will automatically react badly to punishment† (Trevio Show MoreRelatedBeing A Small Business Owner Can Be Costly For You And Your Business1702 Words   |  7 PagesBeing a small business owner can be very demanding, and most entrepreneurs know that running a small business can be a juggling act, often spreading themselves thin performing many different jobs during the course of a single day. With the primary responsibility for the success of their business resting on their shoulders, they know that better time management is key Don’t say you don’t have enough time. You have exactly the same number of hours per day that were given to Helen Keller, Pasteur,Read MoreSmall Business Analysis Essay1326 Words   |  6 PagesSmall Business Analysis LDR 531 Organizational Leadership Small Business Analysis The Small Business Administration of the United States federal government defines as a small business â€Å"†¦as one that is independently owned and operated, is organized for profit, and is not dominant in its field (SBA, 2012).† In the area of â€Å"services†, although there is mostly no limit on how many employees form part of the business, annual receipts may not exceed $2.5 to $21.5 million depending on the typeRead MoreAre Small Businesses Dependent On The Presence Of The Owner?857 Words   |  4 PagesDilemma 6 Are small businesses dependent on the presence of the owner? There are plenty of small business arising in the market. But does the success of the busssiness rely solely upon the owners? Can they not trust their employees to carry out the task needed in order to keep the business running properly? This is the question we will be addressing in this dilemma. is it really necessary for the owners to be on the premise at all times? Are personality cults created in small businesses? Is itRead MoreHow to Use Social Media for Small Business Essay1229 Words   |  5 PagesKim, 2012). In the recent study conducted by LinkedIn, 94% of small businesses use social media as a marketing tool and 49% use it for research to grow business (Weiss, 2014). The social media maybe cheap but it is not easy to implement. Many small business owners still hesitate to implement it because of lack of knowledge. Small business owners also fear the cost of time to be invested in social media. Implementing social media in business requires operational, technological, and cultural changes.Read MoreThe Business Structures Of The United States1729 Words   |  7 Pagesthe modern day business structures which are utilized by all producers in order to obtain a successful and profitable business. The most popular business structures in today’s market economy are sole proprietorship, partnership, corporation, and Limited Liability Company. These business structures are the most popular business structures in the United States due to their great amount of success, but they all have their own positive and negative qualities. When founding a new business, there is alwaysRead MoreThe Business Of Americ The President Of The 1920 S1725 Words   |  7 Pages Calvin Coolidge the President in the 1920’s, otherwise known as the roaring 20’s said that â€Å"the business of America is business.. It’s safe to say that â€Å"business† for the first 100 years of founding our country was small business. 90 percent of Americans had fewer than 20 employees, but the businesses in America had almost no choice but to be a small business, due to lack in transportation, marketing, and banks weren’t big enough to support big businesses at the moment. Americans though preferredRead MoreCorporate Governance Practices Of Small Businesses1272 Words   |  6 Pagesgovernance practices of small businesses in Australia? Compare and evaluate the role of owners and managers. Business is an economic activity, which is associated with systematic production and allocation of goods and services that gives better satisfaction for human being. Generally, business play the major role to develop the social and economic condition of Australia. There are different types of business such as Small business, Franchise, Online business, Family business, Independent contractorRead MoreBusiness Management : Marlin Will Launch A Monthly Webinar Series939 Words   |  4 Pages MEMORANDUM To: Russell Walraven, Marlin Business Services From: The Wilbert Group RE: Webinar Topics for February-April Date: January XX, 2015 Overview Marlin will launch a monthly webinar series starting in February regarding various topics relevant to small business owners. Wilbert will facilitate the webinar, with Russell Walraven acting as a small business expert providing information on prearranged topics and answering queries. Additionally, other key leaders at Marlin are welcomeRead MoreMicroeconomics: The Foundation behind Small Businesses1130 Words   |  5 PagesMicroeconomics: The Foundation behind Small Businesses Small business are said to be the backbone of the United States economy. It said that small businesses contribute to growth and vitality in the specific area of the United States economic development. Small businesses play a huge role in how the business world is shaped. Entrepreneurs are smart, creative and innovative however, those same entrepreneurs need to have some knowledge that the study of microeconomics focuses on. With the studyRead MoreBusiness Analysis : Sole Trader1056 Words   |  5 Pagesportray any business that is owned and managed by a single person, although sole traders employ employees. The owner is normally the person that is liable for the businesses decisions - The firms are generally small and in most circumstances is easy to setup. - Sole Traders normally only require a small amount of capital to be invested and this reduces the initial start-up cost. - Monthly wages are often low as there is only a few or no employees. - This type of business is easier to