The 3 Areas of Business

My assignment was to write about how the three areas of business relate to a business in my town. I am instead going to write about how the three areas apply to my own business.

For all of you out there who may not know what my business is, I make jewelry and sell it. I have been making jewelry since I was eight, but never really got to sell it because what I called pretty back then was not exactly someone else’s version of “pretty.” Anyway, about six months ago, I started a website for selling my jewelry and I would also sell at my local farmer’s market. It has been going fairly well, but I need to expand. I am working on getting my jewelry into stores and doing more online marketing. So, this is my website, www.myriamswesternjewelry.com, and I also have Pinterest (please, follow and share!), www.pinterest.com/mtgirl16.

Well, now back to the business at hand. The three areas of business are Sales & Marketing, Operations, and Finance & Administration. To begin with, I’ll describe what each field does. Sales & Marketing is in charge of making sales, and marketing the product/service. Operations deals with fulfilling the sale that Sales & Marketing made. Finance & Administration (the least exciting part) does the financial part–taxes, paychecks, dealing with employees, stores, investing, making sure the company makes a profit, etc…. Overseeing all this is the Manager, also known as the President or the CEO.

Put into a large corporation, this process must be very detailed, there are lot’s of people involved and the CEO has a lot in his hands. In terms of my business it’s slightly simpler, except for one fact, I’m the Sales & Marketing, Operations, Finance & Administration, and CEO all in one. It’s fun, actually! (and also a lot of work.)

For me, Sales & Marketing includes working on my website to improve SEO, get my jewelry listed, getting people to see it, talking to people about my business, getting my jewelry into stores, gaining a following on Pinterest, and all that, all of which, by the way, is a learning process.

I then change into Operations. I sit down to design and make the jewelry (my favorite part). I then either display it and take pictures, or package it and send it off.

I also have to do Finance & Administration. The only fun part of this is when I order/buy new materials and supplies. I love that part! I become like a kid at the candy store, literally.  But I also have to figure out if I can spend more money on supplies and if I’m making a profit.

I have learned a ton from having my own business, and I really want to make it successful.

-Myriam

 

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