Fundamentals of Business

Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners.   These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting.

Blocking and tackling are the basic fundamentals of football, but what are the basic fundamentals of business? My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute.  Fundamental business strategy answers four basic questions: Number one, what business are we in?, Two, who is the customer?, Three, How does the customer define value?, and then Four, how do we deliver that value?  When we business owners get off track, answering these fundamental questions will put us right back on track.  Sometimes we need to go back to the blocking and tackling of business.  And remember, the most successful business owners know their numbers. 

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