When thinking about “Back to Basics,” I believe it all starts by slowing down, thinking clearly, and taking a good look at your operations.
Business owners often get so caught up in chaos management, which can be a daily reality, that they forget the core concepts.
I have found that the five basic foundations to business success include: interesting marketing, great customer service, excellent products and services, profit margins that will sustain long-term growth and clear financial record keeping.
Effective business activities should support these functions. When business owners are trying to make decisions they should simply ask themselves if the choices they are considering will enhance one of these functions. If not, perhaps they should move on to something that will have a better payoff for their business.
Sometimes you just have to back away from daily operations to reflect on those Foundational Five.
If you take the time to review each of the “foundational five” and ensure they are done to the best of your ability, you will see your business prosper. Read, study, engage a business coach or mentor and see if there is a way to make each of these areas even more excellent.
No business owner can know it all; sometimes a fresh perspective can shine light on areas you would never have considered. Always refine, enhance and support the “foundational five” and you can’t go wrong.
Tina Heathers is a business coach and trainer with Wellington Waterloo Community Futures.
