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.
New to SmallBizSurvival.com? Take the Guided Tour. Like what you see? Get our updates.
- Rural Tourism Trend: electric vehicle chargers can drive visitors - January 15, 2023
- 2023 trends for rural and small town businesses - December 26, 2022
- Local reviews on Google Maps drive enduring value - December 17, 2022
- Extra agritourism revenue from camping, cabins and RVs with HipCamp - December 12, 2022
- Harvest Hosts attract vanlifers and RV tourists, Boondockers Welcome - December 2, 2022
- Holiday 2022 marketing: Tell your founding story - December 1, 2022
- Holiday 2022 Marketing: Tell your customers’ stories - November 30, 2022
- Holiday 2022 Marketing: Introduce your people - November 29, 2022
- Holiday 2022 Marketing: Share your holiday traditions - November 28, 2022
- Holiday Marketing 2022: Support your service businesses - November 22, 2022
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.
David, definitely. It’s probably the biggest thing I see other businesses letting slide, and it hurts them.
I read that worry took many points off your IQ. I try to turn worry into wonder.
Russel, that’s a good way to think about it. If you’re worried, start by shifting to wonder, and move into action!