Business Fundamentals- 3 Fundamentals In Business That You Just Can’t Neglect

by- Tom Kubrak


You got a little cocky. You thought you were on top of the world. So… you started to forget about those little things called…

Fundamentals.

Things started to collapse and your business went through a tough time where you had to dig into the emergency fund to pay your team. Just like those times when you were starting the business, you had to make some sacrifices and you had to eat cheap bread for a few weeks.

Do you want to get back to prospering though? Then let’s get back to the fundamentals and get things running like they should.

A Consistent Quality Product

What do you have to offer to your customers? What’s your number one thing? You ever heard the ancient saying “Jack of All Trades and A Master Of None.”

If you don’t know your number one product then you may have to reevaluate and come up with your number one product that you have to offer people.

If you do know what that is then keep that at the forefront of what you do. Don’t neglect it. It’s great to constantly be innovating and looking at new ideas but sometimes in the process of doing that your main product goes to the back and you forget why you started the business in the first place

Content

Back then it used to be billboards, center square bulletin boards, flyers posted on street poles. Although that stuff is still relevant today the main source of marketing has transitioned with the birth of the internet. After the birth of the internet came the birth of online platforms like Instagram, Facebook and Twitter.

Now that millions of users use it every day it’s become a funnel for marketing. It’s how people know that your business is still open. It’s how people get intrigued to walk through the door to try your food, drink your coffee, buy your product, etc.

With an engaging consistent content strategy you will be able to keep a consistent flow of people. If you use all of the online platforms and physical platforms right you can capture new clientele as well

“Content is king.” -Unknown

1 Day Shut Down

As a new business or seasoned business it’s important to have a day to reevaluation day, adjustment and cleaning day. Going into each week fresh without any worries of the past week is great.

Using this one day to get all of your marketing materials printed out, new announcements all ready to go, product release updates, following up with an opportunity that walked through the door last week, cleaning(it adds up), etc.

If your goal for your brick and mortar is to stay open for a few years, than sure 7 days is fine, but if you’re goal is to last and have a profitable business then a 1 Day Shut Down is mandatory.

Shutting down one day also allows your team members to recharge. If you don’t have a charged up team then they won’t be able to give the business their all. As a business owner it’s also a good time to talk to the team and get their opinion on how they think the business is going and if they noticed anything during the week.

Bonus Fundamental! Accounting/Finances

David Shedd talks about some lessons he learned at The Wharton School. His number one lesson is in proper accounting and managing cash flow. Check his whole post out here on Business Insider. https://www.businessinsider.com/5-business-fundamentals-learned-at-wharton-2011-9

“A business that makes nothing but money is a poor business.” -Henry Ford


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By- Tom Kubrak

Email- Tomkubrak.writing@gmail.com

IG & TWTR @tomkubrak


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