SBO Job Description
KWP Standard Small Business Owner Description
Business Owner Role
Today’s business environment is a complex place to be, regardless of business size, type, or location. As a new business owner, you need to keep the big picture in mind, keep an eye on the future, stay abreast of the competition, and be grounded in day-to-day realities. At the same time, even as a brick-and-mortar company or home-based business, you must have an Internet presence. And, you must do it right. Not only do you need to attract customers to buy your products and services, you need to attract stakeholders and financial partners to raise capital and thrive. You also need to know what kind of business owner you are, have a candid view of your strengths and weaknesses, and know when it’s time to hire experts, delegate, and get out of the way. To balance these variables in a highly competitive marketplace, you need to draw upon a wide variety of management skills and know-how to manage your business profitably and sustain solid financial viability.
Business Owner Responsibilities
The business owner is part visionary, part entrepreneur, part expert, part front line worker, part manager, and can be a jack of all trades. However, your primary responsibilities are to lead the way, build a sustainable business model, and effectively manage your team. Business owner responsibilities include:
- Apply the best practices for creating, leading, and managing your own business.
- Develop an organizational framework for managing business operations and budgets.
- Continuously evaluate your business to ensure financial viability and sustainability.
- Develop and share your business vision, values, goals, and ethics.
- Research, analyze, and develop a strategic plan.
- Clearly explain your business vision and strategy in terms stakeholders will understand
- Develop marketing, sales, operations, and distribution plans
- Set up a framework for hiring and retaining employees.
- Establish a customer service focus and team.
- Establish contingency plans, be prepared for disaster, adjust for market downturns, and have an exit strategy.
- Be vigilant and prepared for new opportunities and markets
Business Owner Qualifications and Skills
- A customer and sales focus
- Business acumen and strong grasp of financial management
- Exceptional interpersonal communication skills
- Outstanding sales acumen
- BS/BA in business, finance, marketing or industry-related equivalent
- Skills certification in the industry your business serves, a clear competitive advantage
- Certified Small Business Entrepreneur, KWP-SBE, a clear competitive advantage
Business Owner Attributes
- Creative, innovative, and open to risk taking
- Independent self-starter who is accountable for one’s actions
- A natural leader
- Creative problem-solver
- Prepared for crisis management
- Adaptable and able to multi-task in a fast-paced environment
- Equally skilled as a team leader and single contributor
- Good delegator, but willing to roll up your sleeves when needed
- Strong professional ethics and moral compass
Key Performance Indicators (KPIs)
The KPIs listed below are common measures of business success and sustainability that financial institutions, stakeholders, and customers value:
- Sales revenue
- Customer satisfaction
- Growth rate