CFO And Owner Of An Auto Repair And Sales Business
Job Title: CFO Of Small Business
Type of Company: Our business is repairing automobiles and selling used cars.
Education: Boston College, BA in Business Administration
Previous Experience: I worked in the finance department of a major computer manufacturer for 11 years. I was responsible for keeping track of sales as well as budgets. After that I worked for one of the largest public accounting firms as an accounting supervisor. In the early 1990s my husband decided to start his own business. I went along with him to handle the finances, the contract negotiations with vendors, the employees issues such as benefits and payroll.
Job Tasks: As a small business owner and the person that handles all the financial decisions for the company, I find my job challenging and different every day. My day might begin with handling an employee's question on health insurance benefits, then I might help a customer with scheduling an appointment for work to be done on their car or even meet with a customer to explain what work we did on their car, and next I might be reviewing our financial situation by looking at reports to see what bills can be paid and when to pay them. Periodically I meet with vendors to negotiate contracts so that we can buy parts to fix customers' cars. I continually review these agreements to ensure that we are getting the best pricing. I need to do the same with the telephone service and the uniform cleaning service. I am constantly looking at ways to save money and increase sales. All of this means greater profits for the company.
In a successful small business everyone works together as a team. But most importantly, as a small business owner all my efforts go into creating a successful company that monetarily benefits me, my family, and my employees.
Best and Worst Parts of the Job: The best part is that I am my own boss. I make the decisions. I have to accept my decisions whether the results are good or bad.
The worst part of my job is that I am the decision maker and that all the employees look to me. If there is a customer problem, I have to resolve it. There is no one else. When the employees go home, I am still the one that is finishing up the days' work and planning for the following day. Owning your own business is a 24 hour/7 day a week job.
Job Tips: A career in the business world requires a solid business education that includes accounting, marketing, and economics. Once you are out of college, you'll likely get a very low level job. But it is important to work hard and learn as much as you can while you are at that job. You will be rewarded with promotions and other job opportunities.