What departments should you have within your business?
by Startacus Admin
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Even if you're doing it all by yourself for now, here is an overview of the key operational areas that your business ought to have
No matter the size or structure of your business, there are certain departments you should have in order to operate. If you're one of the many entrepreneurs who have transformed their small side hustle into a viable SME you may not have implemented certain strategies and policies into your organisation and you could be limiting your productivity. As a small business owner you may find that at first, you fill or most of these roles yourself. But as your business grows, you'll want to invest in people who have the skills and the know-how, as well as the tools to make it happen.
Accounting and finance
It's important to have an accounting department that can handle the revenue, expenses, and company cash flow. They can help with business forecasting, and of course paying your employees. Having a person or persons responsible for chasing payments from customs, as well as paying invoices can mean you are able to focus on the task at hand and know that everything is being taken care of.
Marketing and advertising
The marketing and advertising department are an important part of helping to grow your business. They are responsible for developing product packaging, pricing, and creating ways for potential customers to engage with the company. As more and more people use social media as a way of connecting with brands and buying products, it's important that you have a member of the team who is well versed in digital marketing and can reach and engage with your target market.
Production
As your business grows, you'll need to develop and upscale your production. Having a department who orders inventory to enable production, as well as fulfil orders will ensure the smooth running of your business. Having a production line that is no longer fit for purpose could end up in a backlog of customer orders, which could result in falling sales.
Sales
Whether you're selling a product or service, all companies require a sales department. It could be in the beginning that the sales department is you, and over time it expands, but you must be good at building customer relationships, meeting revenue targets, as well as pitching new products. It's important to note that the traditional 'pull' method of sales is declining, whereas the 'push' method is increasing.
The 'pull' method typically involves placing a salesperson in a physical store to sell products, but with physical stores closing, using the 'push' method of calling, email, messaging, and visiting the prospective clients may work better.
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Published on: 26th January 2021
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