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Top 3 business basics you can’t afford to ignore

By Becky McCray

Owning a small business may give you plenty of reasons to worry. Here are the top 3 things to focus your thinking on instead. Photo by Becky McCray.

Owning a small business may give you plenty of reasons to worry. Here are the top 3 things to focus your thinking on instead. Photo by Becky McCray.

If you’re worried about your business, your small town economy, or surviving in tough times, you have a choice. You could choose to focus instead on improving your business basics. Here are my top three small-business basics you can’t afford to ignore when things aren’t going well.

1. Bookkeeping and Accounting

Finance may be everyone’s least-loved business subject, but that doesn’t mean you can ignore it. You want to watch for possible warning signs that your business might be in trouble, so you have to understand which factors are most important in your business.

What can you do?

  • Take care of your bookkeeping basics; keep on top of data entry. Start with an online service designed for small business like Wave Accounting.
  • Choose a handful of important measures you will monitor regularly: gross sales, cash on hand, whatever makes sense for your business. Watch those results carefully.

2. Learning

Today, you have more learning resources than you can ever actually use. You can read advice from experienced business people without leaving your computer. You can connect personally with mentors, consultants, and many other types of support online. You can get resource articles, guides, and e-books on any small business issue.

What can you do?

  • Pick one or two topics that can most impact your results.
  • Dedicate a solid hour daily or at least weekly to read, discover, contemplate, and implement.

3. Connecting With People

What could be more important to business? Don’t let yourself develop a negative or even desperate attitude. Every day, you are coming into contact with current and potential customers, employees, partners, and referrers. It’s up to you to smile and connect with them.

What can you do?

  • Be open to possibilities all around you.
  • Keep planning for the future.
  • Take action. It defeats worrying.

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About Becky McCray

Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband have a small cattle ranch and are lifelong entrepreneurs. Becky is an international speaker on small business and rural topics.
  • Zoom Towns: attracting and supporting remote workers in rural small towns - December 10, 2020
  • In an economic crisis, spend your brainpower before your dollars - November 25, 2020
  • Video: How to fill empty car dealership buildings for the holidays - November 6, 2020
  • How has 2020 changed the challenges rural small towns face? Tell us here - October 20, 2020
  • The Idea Friendly Method to surviving a business crisis - October 6, 2020
  • Join me for the Rural Renewal Symposium online Oct 13 - September 26, 2020
  • Cheap placemaking idea: instant murals - September 11, 2020
  • Refilling the rural business pipeline - July 7, 2020
  • Huge vacant buildings: grants to renovate? - June 9, 2020
  • Economic self defense for small towns  - June 7, 2020

September 16, 2013 Filed Under: entrepreneurship, rural

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Comments

  1. David Y says

    October 1, 2013 at 1:07 pm

    Number one on this list is so vital to measuring growth and progress in a business. Sadly also a point in which people tend to overlook.

    • Becky McCray says

      October 2, 2013 at 6:40 pm

      David, definitely. It’s probably the biggest thing I see other businesses letting slide, and it hurts them.

  2. Russell Scott Day says

    October 1, 2013 at 4:14 pm

    I read that worry took many points off your IQ. I try to turn worry into wonder.

    • Becky McCray says

      October 2, 2013 at 6:41 pm

      Russel, that’s a good way to think about it. If you’re worried, start by shifting to wonder, and move into action!

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