Cash flow is the life blood of any business. Without a firm understanding of your finances and the effects operational decisions have you can't get to the awesome marketing campaigns. Many startups run out of money before they get to breakeven or even bringing a product to market. Good financial fundamentals include financial controls, good data, financial reports, budgets, forecasts and a financial strategy. None of this is sexy but it's vital. Without cash you can't do anything else.
Next is your marketing. Before you get sold on glossy marketing materials and splashy ad campaigns there some fundamentals. What is your brand or your business all about? To advertise you need to communicate about yourself and have a call to action. Measurements, what is the ROI on your marketing? What campaign is bringing in clients? Is that billboard bringing in clients or are people so distracted by the radio or texting to see your billboard? A good marketing expert will learn about your business to determine the most effective way of communicating your brand and not be afraid of measuring marketing effectiveness.
Customer service is huge as well. You have to leave your customers with a positive experience every time. Take care of the need first. Customers feel better when they feel you are looking out for them by asking what the need is and providing options that fit. This also build a degree of trust which can go a long way to providing repeat and referral business.
These are some of the fundamentals that can help drive small business success. As with all fundamentals these need to be worked on consistently to ensure and allow you to build your own championship organization.