Job Title: Small Business Owner
Type of Company: My company is a used-car dealership with a 100 car license. We perform sales, repairs and reconditioning.
Education: High School Diploma, some college
Previous Experience: I have always worked in the automotive industry. I started out as a billing clerk, preparing titles part-time while attending college. Later I was sales administrator for a large franchise dealership. My duties included sales support and inventory ordering through the factory. My last job, before going into business for myself, was as an office controller.
Job Tasks: As the owner of a dealership I am responsible for all aspects of the business. I do bookkeeping, payroll, tax reporting, accounts payable and receivables as well as account reconciliation. I am also directly involved with sales and financing. Probably the most important part of my retail business is advertising, both internet and print.
I am hands-on with quality control, customer concerns, employee hiring and termination, and benefits coordination.
I also do parts ordering and invoicing. For example, a customer brings a car in for repairs; I schedule the appointment, prepare an estimate of the cost of repairs, order the necessary parts to complete the job, print an invoice and take receipt of any payment or payments.
Lot configuration is another key task that I perform. Periodically, as cars are sold, and new cars come in, our stock needs to be rotated so that potential customers do not see the same vehicles in the front every time they drive by our dealership. Likewise, after vehicles are taken out for test drives, they need to be re-aligned. I take periodic walks to ensure all vehicles are securely locked, and that no vandalism has occurred.
Inventory control is another important task. As our inventory sits without selling, it has the potential to depreciate in value, sometimes quickly. Continuous control and accountability of why vehicles are sitting rather than selling is factored in.
Best and Worst Parts of the Job: The best part of my job is that I am my own boss. I retain flexibility in my tasks and on deadlines I impose on myself. I can make my own hours. This kind of freedom is very hard to achieve even with long experience when you're working for somebody else.
1. Don't be greedy! There is the potential to make this business very lucrative in good economic times; as with any business, though, there are always downturns in the economy which can spell trouble.
2. Don't imagine that you will be an overnight success! It takes many years to figure this business out, and many years to build a reputation for yourself.
3. Treat everyone with respect and always do the right thing, and eventually it should pay off.
Additional Thoughts: One thing that I would have done differently is continue my education before pursuing a career on my own, just to have something to fall back on. As much as I am hands-on, there are still many aspects of the business for which I have to rely on others.
These schools offer particularly quick info upon request, and we have written detailed profiles for each (click school names to see the profiles).
Request info from multiple schools, by clicking the Request Info links.
For over 35 years, Keiser University has provided student-centered, quality career education. Keiser University Online offers degree programs online to prepare students for in-demand professions.
Earn your Master's degree online from Norwich University.
Study online with University of Maryland at College Park.
Pursue your education at Ohio Christian University.
San Joaquin Valley College - A Private Junior College.
University of Valley Forge was founded in 1939 and is part of an international network of Assemblies of God colleges and universities.
The Secret to Getting Ahead is Getting Started
Designed with the needs of working adult students in mind, South University, Online Programs is built on the similar curriculum offered at South University's campus locations. As a student at South University, Online Programs you will receive the same quality instruction, variety of learning options and level of service found at the campus locations.
Study online with California University of Pennsylvania.
Colorado State University-Global Campus
Colorado State University-Global Campus (CSU-Global) recently received state approval to enroll students with little to no prior college experience. To help ensure student success, the university has created a program especially for these students who plan on starting their college experience for the first time with us.
The inside stories from people actually working in the field.
Click a story title to show the story, and click the title again to hide it.
Career Stories are concise, real-world career overviews written by people relating their personal career experiences and wisdom. They provide invaluable insights and mentoring advice to students and career changers.
Most stories include:
Please also see our detailed information about Chief Executives, including: