The 8 Fundamentals of Business

At our company Helpful Business Performance, we have developed a Business Warrant of Fitness (BWOF) Framework that breaks down the Business Fundamentals further into 30 Key Functions. For example; Job Management, Social Media, Financial Systems, etc. By applying the Framework, we then measure the level the business is each of the Key Functions and rate them. The levels range from 0 - Infrared (function doesn't exist) to 4 - Green (function is performing at optimum level). Once we have done the BWOF health check, we then recommend SMART systems and processes to help the business prioritise & strategically level-up in each function.

 

 

Why We Teach About 8 Business Fundamentals

During my career, my bosses or clients would usually come to me for help to solve a particular problem. Being a fixer, I would quickly set out to solve that problem. If we were lucky, that would be the end of it. Unfortunately, the most common scenarios were usually one of two situations:

  1. During the process of identifying and implementing a solution to that problem, I would uncover some more issues that would need fixing. This would lead to discovering a rabbit warren of issues (it is a running joke with one of my clients in particular), or
  2. We would put a solution in place, only to find that it was outdated quickly due to something I wasn’t aware of

I did not find either situation desirable, and usually, my clients didn’t either. Often we would have to do a 180-degree turn and rethink the initial solution, now we were armed with all of the facts.

Do you find this happens to you?

Over time I realised it paid to ask the right questions up front – get the bigger picture. Then we could be more strategic in the approach to putting solutions or systems in place.

 

The Business Machine

We see business as a machine of moving parts. If one (or more) of the fundamental parts are not working well– the machine cannot operate at its highest level. Sometimes a poorly performing part can even cause the machine to grind to a halt.

Standing back and seeing business as 8 fundamental parts, is all about being strategic with how we build the machine.

Are we building it with no.8 wire & band-aids that are inferior for the needs?

Or, are we building it with quality parts that make sense for the quality of result we desire?

Our goal is to help our clients have successful, well-oiled business machines.

 

What are the 8 Business Fundamentals we focus on?

the-8-fundamentals-of-business

 

The Business Owners / Managers

We train in best systems and strategies help free the leader of the business up to work in their genius. We look at the Business Owners’ management of their time and health in particular.

 

Goals & Planning

Business growth shouldn’t be accidental. We help business growth be strategic, well planned and most importantly well executed. A business plan doesn’t have to be complicated. A simple one-pager or visual business board can be perfect! This fundamental is all about defining your why; why are you doing what you’re doing? Getting clear on your why, and where you want to end up, is the first step to writing your map to get there.

 

Business Finances

Money is the often the number 1 reason businesses go bust. We teach effective systems to help businesses get a handle on their money.

 

Systems and Processes

SMART systems and processes are essential to maximise workflow and profit. What do we mean by SMART? We mean Scalable, Measurable, Affordable, Realistic and Teachable.

 

The Team

A team that is performing in their genius, and feels appreciated, will reward you by giving it their best. It’s also important to make sure businesses are compliant with their required paperwork & tax obligations.

 

The Brand

A consistent brand is so much more than a logo; it incorporates everything from a complete visual look through to a company’s values. We talk about how to have an exceptional brand message across the entire business.

 

Sales & Marketing Plans

Marketing and sales are everything to the bottom line. Plan to get yourself & your product out there and get it sold.

 

Customer Experience

Up-selling or reselling is so much more efficient than finding new customers. Customer experience is everything, to keep your customers coming back. We teach SMART systems to keep your customer information organised, and your clients feeling nurtured.

 

Business Fundamental Key Functions

At our company Helpful Business Performance, we have developed a Business Warrant of Fitness (BWOF) Framework that breaks down the Business Fundamentals further into 30 Key Functions. For example; Job Management, Social Media, Financial Systems, etc. By applying the Framework, we then measure the level the business is each of the Key Functions and rate them. The levels range from 0 – Infrared (function doesn’t exist) to 4 – Green (function is performing at optimum level). Once we have done the BWOF health check, we then recommend SMART systems and processes to help the business prioritise & strategically level-up in each function.

 

The Business Fundamentals Framework

We hope you’ve enjoyed the first article in our Business Fundamentals Series. Read the second post on SMART systems here and the third post about the 5 levels of business here.

This Framework forms the basis of our training catalog here at The Helpful Academy.
Our training is about being strategic and making the best use of all time, money and resources.
The focus is on maximum efficiency & profitability.

 

 

By | 2018-04-09T21:22:58+00:00 August 26th, 2017|Business, Our Methodology|6 Comments

About the Author:

Kat is a Trainer, Systems Strategist, and Business Coach. She owns The Helpful Brand - a group of Business Services and Training businesses. Kat's particularly passionate about helping people achieve their goals through SMART systems and processes.

6 Comments

  1. […] Previous […]

  2. […] to the third post in the Business Fundamentals series. You can read post one about the 8 Business Fundamentals here, and post two about SMART systems […]

  3. […] is part of our Business Fundamentals Series. Click here for the first post in the series which explains our […]

  4. Reginald Onyeahialam 11/10/2017 at 4:45 PM - Reply

    This 8 business fundamentals you have treated here are very powerful and important for those who really wants to be successful in the entrepreneurial journey.
    Thanks for sharing this great tips

  5. Miracle 11/10/2017 at 5:59 PM - Reply

    I love these 8 strategies! As someone wanting to turn a hobby into a business, these are extremely helpful.

  6. Erika Ravnsborg 12/10/2017 at 2:22 AM - Reply

    Yep those are the fundamentals all right but I think number one should be the planning

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