Tag Archive: business ownership


Success or FailureNumerous overwhelming duties accompany being a business owner.  No matter what size the company is, the proprietor acquires certain responsibilities and obligations along with the business’s benefits and profits.  A business owner’s primary duty is to ensure success.  But to ensure the business’s success, the owner must constantly:

  • Oversee and/or carry out the business administration tasks
  • Oversee and/or perform the accounting, bookkeeping and/or recordkeeping tasks
  • Oversee and/or conduct research and development of new products and/or services
  • Oversee or conduct marketing and sales tasks on a regular basis
  • Oversee and/or carry out the production and delivery of products and/or services on a regular basis
  • Oversee and/or provide excellent telephonic customer service
  • Oversee and/or perform human resources tasks
  • Oversee and/or provide for employee healthcare, retirement and other benefits
  • Oversee and/or perform finance management and legal department tasks
  • Ensure the workplace is safe and healthy for employees, third parties and the environment
  • Make business plans, set business goals, make important business decisions, and set company policies and standards

Each of these tasks can be very time consuming.  Several of the tasks require performing work typically performed by licensed professionals, such as managing legal, financial and accounting matters.  Other tasks require having specific knowledge and a special set of skills, such as excellent communication, typing and mathematical skills.  Other tasks require having a vast amount of experience, such as in product production, marketing and sales.  With 4.6 million out of 4.8 million UK enterprises being micro businesses, it is easy to understand why the proprietors quickly become overwhelmed by having so many duties and obligations.

In many instances, owners may find themselves having to do work they have no training or experience in performing.  Due to work overload, many of the aforementioned tasks may not be done in a timely manner or on a consistent basis.  Yet, each of these factors can lead to costly mistakes being made and the eventual failure of the business venture.

Delegating Work via Outsourcing

Multitasking: Are you trying to be a One-Man Band

Multitasking: Are you trying to be a One-Man Band?

Fortunately, business proprietors can delegate most of these daunting tasks to other people, thus freeing up their time and reducing their workloads.  Delegating the work ensures that it is performed in a timely manner by qualified people. In a large company, the aforementioned tasks are mostly delegated to various employees.  However, whether you own a large, medium, or small business, it may be better to outsource this work to business support companies such as Business Visions rather than have the work done in-house.  Employees may or may not get the job done well and in a timely manner, and their services may be more costly when all the factors are considered.

For instance, Business Visions provides a wide range of business support services.  The company provides full virtual office and call answering services, thus eliminating the need to hire a secretary, receptionist or personal assistant.  Business Visions also provides other forms of business administrative support, as well as can assist you with marketing and sales tasks, accounting, bookkeeping, and transcription tasks.  They can also chase payments for you, create marketing brochures and sales presentations, design and host your website, and manage your daily appointments.

Benefits of Outsourcing

Business support companies like Business Visions can also help reduce your employees’ workload, freeing them to do the more important tasks.  They can also help carry the workload while your employees are on holiday or out on sick leave.  A business support company is especially beneficial to use when you have need of temporary or seasonal help.  Moreover, outsourcing the work can reduce a company’s overhead expenses by reducing the need to hire extra employees.  Outsourcing also reduces the need to purchase certain types of business equipment.  Thus, business support companies such as Business Visions can help a company become more efficient and profitable.  The more efficient and profitable a business is; then the more viable and successful it becomes.

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Are you a business owner or a self-employed labourer – Nowadays, many people find themselves self-employed and working from home.

Not knowing how to classify the work they do, some people refer to themselves as being self-employed labourers.  Some classify themselves as small business owners.  Their family and other members of society may regard these individuals as being temporarily unemployed, since they are not full-time employees nor fully-operate a legally established business.

However, various governmental bureaus and private corporations have given many of these individuals “home-based micro business with sole trader proprietorship” status due to legal issues.  This leads to people assuming that the terms “business owner” and “self-employed” are interchangeable and mean the same thing.  However, this is not necessarily true.  Whereas most business owners are self-employed, not all self-employed people are business owners.  Some people merely work as independent contact labourers or earn irregular income via utilisation of their skills or hobbies.

What Constitutes Being a Business Owner?

There are numerous elements to being a business proprietor.  No matter what size the company is, the owner acquires certain responsibilities and obligations along with the enterprise’s benefits and profits.  Mostly, the proprietor must ensure the business’s success by constantly:

  • Overseeing and/or carrying out the business administration tasks
  • Overseeing and/or performing the accounting, bookkeeping and/or recordkeeping tasks
  • Overseeing and/or conducting research and development of new products and/or services
  • Overseeing or conducting marketing and sales on a regular basis
  • Overseeing and/or carrying out the production and delivery of products and/or services on a regular basis
  • Overseeing and/or providing human resource tasks
  • Overseeing and/or providing for employee healthcare, retirement and other benefits
  • Overseeing and/or performing finance management and legal department tasks
  • Ensuring the workplace is safe and healthy for employees, third parties and the environment
  • Making business plans, setting business goals, making important business decisions, and setting company policies and standards

The business owner may choose to do all the aforementioned work or delegate this work out to other people.  Nonetheless, it is still primarily the proprietor’s responsibility, no matter who actually performs the tasks. Therefore, it is no wonder that most people do not lightly enter the field of business ownership.

What Constitutes Being a Self-Employed Labourer?

On the other hand, many self-employed people do not engage in the aspects of daily business operations or management on a regular basis.  Some even purposely avoid or completely ignore the responsibility that typically comes with being a sole trader.  These people merely find ways of earning an income by being a self-employed labourer.  They may provide a variety of services, such as mowing the grass or childcare to family, friends and neighbours on either a regular or an irregular basis.  Alternatively, the person may turn a hobby into an occasional paid venture or occasionally sell items at the local car boot market.  Self-employed people may even earn money by sporadically contributing content to websites or winning contests.

Distinguishing the Differences between a Business Owners and a Self-Employed Labourer

Thus, there are several ways to distinguish a business owner from a self-employed labourer.  One way is to assess how much responsibility, especially legal and financial liability that the individual willingly accepts.  Another way to tell the difference is to evaluate the amount of time, dedication, commitment and investment that the individual gives to the enterprise.  Lastly, you can tell the difference between being a business owner and being a self-employed or independent contract labourer by considering what tasks are being performed on a daily basis.

If you still cannot clearly determine which you are, then ask yourself the following questions.  Are you promoting your services to strangers as well as to family, friends and neighbours?  Do you promote your services via public media, such as advertising in newspapers, radio announcements, television adverts, or on a website?  Do you consistently offer the same services and products in a reliable manner?  If so, then you should consider yourself a business owner.  If not, then you probably should consider yourself a self-employed labourer.  However, if you do work for others under a signed contract, then you may still be considered an independent contractor legally, even if you own a business.

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