COURSE REFLECTION: SMALL BUSINESS STRATEGY
Lisa Borgese
School of Business, Liberty University
BUSI708: Small Business Management Spring
D
Dr. Jonathan Schultz
Introduction
Small business management needs a well-rounded and strategic approach that balances
legal compliance, ethical leadership, strong human resource practices and operational
efficiency. As I aspire to become a business owner, my dream is to open a community-focused
roller-skating rink that blends fitness, recreation, and youth programming into a family friendly
facility. This self-evaluation aims to explore five key strategic dimensions of my business
approach, ownership structure, operations, legal issues, ethics, and human resources, through
COURSE REFLECTION: SMALL BUSINESS STRATEGY 1
lessons learned in this class, scholarly research, and practical experience. My professional and
personal experience has shaped this vision, supplying me with the discipline and compassion I
will need in the future to create a successful and value-driven business.
Ownership Structure
The roller-skating rink I plan on establishing will be a Limited Liability Company (LLC) that
way I can take advantage of liability protection and pass-through taxation and have operational
flexibility. This ownership structure is ideal for businesses that take on risks associated with
public recreation and is a springboard for future growth. With my background in finance and
cash management, I have a deeper understanding of the financial responsibility associated with
various business structures. I have held positions in C-Corps, S-Corps, partnerships, and LLCs,
and throughout my career I have managed budgets, vendor relationships and banking
operations, giving me an edge on how legal and financial decisions impact the health of the
business. With this insight, I have decided that the LLC structure will allow me to maintain
control of my business while protecting my personal assets from liability associated with vendor
disputes, operational risks, and customer injuries.
According to Hart speak about the “legal protection and simplicity of LLCs,” while
Miller and Brenton-Miller highlight, “LLCs are suitable for scalable ventures.” (Hart, 2023) (Miller
and Brenton-Miller, 2017) As I expand my business and services within the rink over time, I plan
to include after-school programs, and hosting of competitions, which would mean I would have
to plan to reevaluate the ownership structure and “adapt ownership models as the business
dynamics evolve.” (Yu & Lumpkin, 2019)
Operations
A solid operational strategy is the key to a successful business. Implementation of lean
management practices, safety-focused procedures, and automated scheduling and a point-of-
sale system will be utilized in my future rink venture. Drawing from my extensive years of
COURSE REFLECTION: SMALL BUSINESS STRATEGY 2
experience as a former roller-skating competitor and instructor, I know that a well-structured
program, clear communications, and consistent supervision are critical to managing a small
business. In my professional experience in finance and accounting, I have learned how to
streamline processes and reduce errors through automation. These skills and experience will be
applied to rink operations, where I will utilize cloud-based systems to monitor inventory,
complete financial reporting, track customer registrations, and schedule staff working hours.
Achtenhagen et al., state, “agility and responsiveness are essential to small business
operations.” (Achtenhagen et al., 2010) Responding to market trends and customer feedback,
will help the business grow and provide the customer with their needs, and implementing lean
operations will ensure that I improve service while managing the cost of the business.
Legal Issues
There are numerous legal challenges associated with opening a public skating rink, from
liability waivers and occupancy regulations to food service compliance and music licensing.
From the planning stages, it is essential that one works with a legal professional to ensure that
the new venture is in compliance with local, state, and federal laws. As we learned in this
course, lack of clear documentation or understanding of legal frameworks can result in costly
mistakes. By using written contracts and by seeking professional legal advice, I hope to avoid
the pitfalls that I may encounter in my future venture. Authors Adelekan & Dansu emphasize
that the role of legal awareness is to prevent small business failures. Furthermore, by
implementing emergency procedures, policies for incident reporting and having insurance
coverage, my goal is to not only protect my customers but to protect my business and assets.
Additionally, I hope to trademark my rink’s name and logo, which is designed to build a
recognizable business, especially as I expand my business and host local and regional skating
events. Greenhalgh & Rogers argue “intellectual property is essential for differentiation in
service-based businesses.” (Greenhalgh & Rogers, 2010) I strive for my business to be renowned
COURSE REFLECTION: SMALL BUSINESS STRATEGY 3
in the skating world. As a former competitive skater, myself, there were rinks in the industry that
were known for their strong skating club, their savvy business structure, innovation, and a great
place to do business, however, there were also rinks that were known for the opposite.
However, those rinks are no longer around in the industry because of their bad mistakes. I want
my rink to stand the test of time.
Ethics
Ethical leadership is not only essential, but it is strategically important as a small
business owner. The roller rink business I will be building will be a place of kindness, fairness,
and integrity in all aspects of the business, from business practices to the programs and events,
to interpersonal relationships. Authors Spence & Painter-Morland illustrate the importance of
intense visibility of ethical behavior in small businesses. This means that the business needs to
show the rest of the community that they stand for ethics, fairness, integrity, and equality, and
by doing so the company build a reputable presence in the town. Furthermore, Brown & Trevino
state that, “ethical leadership fosters employee engagement and organizational loyalty.” (Brown
& Trevino, 2006) This is essential for small business to build a tight-knit team that they can
count on to help the reputation of the business. By incorporating these principles, I hope to
build a reputation for integrity that differentiates my small business from my competition.
Human Resources
Staffing is one of the most essential elements in a small business. Everyone from the
bottom to the top managers must embody the mission of the small business. It is imperative
that when hiring employees for the business that the employees understand the mission that
the business is seeking. If that is unclear, regardless of the employee’s job title, the business
could be set up for failure. In my future roller-skating business, I will be focusing on hiring staff
that are enthusiastic, safety minded individuals who enjoy working with children and who can
serve as a positive role model. The mission for the rink is to provide a family-friendly experience
COURSE REFLECTION: SMALL BUSINESS STRATEGY 4
that promotes fun, fitness and community engagement. We are committed to a safe and
welcoming environment where people of all ages and backgrounds can enjoy skating, learn and
develop a new skill, and connect through a shared experience. Through exceptional customer
service, quality programs and inclusive values, the rink will strive to inspire health, joy, and
lasting memories. Candidates who are looking for employment at the roller-skating rink who do
not share these values, and the mission could derail the purpose of the business. That is why it
is essential to select the right staff during the hiring process.
According to De Kok et al., “strong HR practices correlate to higher satisfaction and
performance.” (De Kok et al., 2006) Building a strong culture for employees is essential to
ensure that they have the support they need to grow personally and professionally. Many think
that working at a roller-skating rink does not instill working values, however, like any other
business, the rink needs dependable employee to ensure its survival. The skills learned at the
rink will help the employees move on to their future career with strong work ethics that can
serve them well.
Conclusion
My strategic approach to small business management has been shaped by multiple
facets of my life, including academic knowledge, professional experience, and personal values.
Through thoughtful and strategic planning in ownership structure, operations, legal compliance,
ethics, and HR, I plan to create a solid foundation for my future roller-skating business. This
business will not only reflect my entrepreneurial goals, but my life’s work as a leader and
professional.
References
Achtenhagen, L., Naldi, L., & Melin, L. (2010). "Business growth"—Do practitioners and scholars
really talk about the same thing? Entrepreneurship Theory and Practice, 34(2),
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289–316. Retrieved from https://doi.org/10.1111/j.1540-
6520.2010.00376.x
Adelekan, S.A., & Dansu, S.T. (2016). Entrepreneurship and Economic Growth in Nigeria:
Evidence from Small and Medium Scale Enterprises (SMEs) Financing using Asymmetric
Auto Regressive Distributed Lag. Retrieved from
https://www.semanticscholar.org/paper/Entrepreneurship-and-Economic-Growth-in-
Nigeria%3A-Adelekan-Dansu/
6598c8a1ee75bb5a734134c29f1264beda0c0b65
Brown, M. E., & Treviño, L. K. (2006). Ethical leadership: A review and future directions. The
Leadership Quarterly, 17(6), 595–616. Retrieved from
https://doi.org/10.1016/j.leaqua.2006.10.004
De Kok, J. M. P., Uhlaner, L. M., & Thurik, A. R. (2006). Professional HRM practices in
familyowned-managed enterprises. Journal of Small Business Management, 44(3), 441–
460.
Retrieved from https://doi.org/10.1111/j.1540-627X.2006.00181.x
Greenhalgh, C., & Rogers, M. (2010). Innovation, Intellectual Property, and Economic Growth
(STU-Student edition). Princeton University Press. https://doi.org/10.2307/j.ctt1zgwjjb
Hart, R. (2023). Legal Forms and Structures of Organizations. Retrieved from
https://management.org/organizations/structures.htm
Miller, D., & Breton-Miller, I. L. (2017). Governance, social identity, and entrepreneurial
orientation in closely held family firms. Entrepreneurship Theory and Practice, 41(5),
709–732. Retrieved from https://doi.org/10.1111/j.1540-6520.2011.00447.x
Spence, L. J., & Painter-Morland, M. (2010). Ethics in Small and Medium Sized Enterprises.
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Springer. Retrieved from https://link.springer.com/book/10.1007/978-
90-481-9331-8
Yu, T., & Lumpkin, G. T. (2019). Autonomy and family business performance: The joint effect of
environmental dynamism and national culture. Retrieved from
DOI:10.1177/0266242618811893
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