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What does “key day-to-day activity” mean?

Before purchasing a business, buyers will want to know an owner’s role in the day-to-day duties and what may be expected for them after closing. Here is a list of common day-to-day duties you can add to your listing. 

1. Bookkeeping
Bookkeeping is the process of recording and categorizing financial transactions to help general financial reports for tax and accounting purposes. This includes keeping a systematic track of any transactions, expenses, sales, revenue, and income while ensuring that all accounts are balanced correctly. 

2. Customer Service 
Customer satisfaction is a crucial aspect of every business. Customer service duties include providing assistance and support to clients–before, during and after-sales. You might also be addressing any customer complaints and working to resolve them to help increase client rental and satisfaction rates.

3. Leadership
As a business owner, one of the major duties include providing a clear direction and path for the company and its employees. They are responsible for creating strategic decisions and overseeing operations as a whole. 

4. Managing inventory 
These duties include overseeing inventory, tracking stock levels, reordering goods, and doing inventory checks as needed. 

5. Managing staff
Managing staff involves overseeing the hiring, training, and supervision of company employees. You would also be responsible for delegating tasks to each employee and creating an efficient and harmonious work environment

6. Marketing 
As a business owner, you might be responsible for managing the company’s marketing strategies to help promote your product or service. Marketing involves creating advertisements, managing social media, and creating other promotional materials. 

7. Order fulfillment
Oftentimes, business owners will oversee the process of order fulfillment, ensuring that each order is packaged correctly and shipped on time. This duty overlaps with inventory management. 

8. Research and development
To retain a competitive advantage in the market, business owners will participate in the research and development of new products to meet changing consumer needs.

9. Sales
Similar to order fulfillment, sales refers to active participation in achieving sales target revenue and being heavily involved with relations with major clients. 

10. Vendor relations  
This includes maintaining and facilitating relationships with important vendors. Negotiating contracts and overseeing vendor performance also fall under this category. 

11. Other 
If your day-to-today duties include additional responsibilities that do not fall under the above categories, you can place them under ‘Other.’ 

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